Ossiam Has $772,000 Holdings in Genuine Parts (NYSE:GPC)

Ossiam grew its position in Genuine Parts (NYSE:GPC) by 33.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 6,611 shares of the specialty retailer’s stock after acquiring an additional 1,644 shares during the period. Ossiam’s holdings in Genuine Parts were worth $772,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of GPC. Millstone Evans Group LLC acquired a new stake in shares of Genuine Parts during the fourth quarter valued at about $25,000. Kestra Investment Management LLC bought a new stake in Genuine Parts during the 4th quarter worth approximately $28,000. First Command Advisory Services Inc. acquired a new position in Genuine Parts in the 4th quarter valued at approximately $28,000. Compass Planning Associates Inc acquired a new position in shares of Genuine Parts during the fourth quarter worth $29,000. Finally, Synergy Asset Management LLC bought a new stake in shares of Genuine Parts in the fourth quarter worth $32,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

GPC has been the topic of a number of analyst reports. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday. The Goldman Sachs Group restated a “sell” rating and issued a $114.00 price target (down previously from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. Loop Capital initiated coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They set a “buy” rating and a $155.00 target price for the company. Truist Financial increased their price target on Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Finally, Northcoast Research lowered Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Genuine Parts currently has an average rating of “Moderate Buy” and an average target price of $131.00.

Genuine Parts Stock Performance

Shares of GPC stock opened at $111.85 on Tuesday. Genuine Parts has a 12 month low of $104.01 and a 12 month high of $163.86. The firm has a market capitalization of $15.52 billion, a PE ratio of 17.29 and a beta of 0.82. The firm has a fifty day simple moving average of $119.61 and a two-hundred day simple moving average of $121.04. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.07. The business had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.71 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. During the same quarter in the previous year, the business earned $2.26 EPS. Analysts forecast that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th were paid a $1.03 dividend. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Friday, March 7th. This represents a $4.12 annualized dividend and a dividend yield of 3.68%. Genuine Parts’s dividend payout ratio is presently 63.68%.

Genuine Parts Profile

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates in two segments: Automotive Parts Group and Industrial Parts Group segments. The company distributes automotive replacement parts for hybrid and electric vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, marine equipment, and heavy duty equipment; and equipment and parts used by repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.