Insider Trading Report: Genuine Parts Company (GPC)

John Holder, a director at Genuine Parts Company (GPC), recently picked up 2,000 more shares. That increased his stake at the company by nearly 13 percent, and came to a total purchase price of just under $250,000.

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  • This is the first insider buy of the year, and the third made by Holder in the past year. Insiders have generally been small buyers of shares overall, with the last insider sale occurring in 2019.

    Overall, company insiders own nearly 3 percent of shares.

    The automotive supply store chain has performed about in line with the overall S&P 500 over the past year. Thanks to a shortage of parts for new cars, used car prices have sold at their best prices relative to estimates in years, and many are looking to extend the lives of their cars.

    The company’s 25 percent rise in revenue in the past year is likely to continue, leading to further rise in shares.

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  • Action to take: Investors may like shares here, given the company’s 2.6 percent dividend, which has also been growing over time.

    For traders, shares have traded somewhat flat over the past few weeks, but with insiders buying here and the company next reporting earnings in October, shares may buck their recent trend and start trending higher instead.

     

    Disclosure: The author of this article has no position in the company mentioned here, but may make a trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.

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