John Holder, a director at Genuine Parts Company (GPC) recently picked up 2,200 shares. The buy increased his total holdings by over 20 percent, and cost the director just over $201,000.
This is the second insider buy at the company this year, also from a director back in March. Insiders have been both buyers and sellers of shares over the past few years. Insiders own nearly 3 percent of the company.
Genuine Parts Company distributes automotive and industrial parts and materials worldwide, with a focus on automotive parts. While shares are considerably off their March lows, shares are still down 12 percent over the past year.
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The company is coming off some poor quarters where it barely eked out a profit, but now shares trade for 18 times forward earnings, and less than one times price to sales.
Action to take: Investors may like shares here, with their generous 3.5 percent dividend yield. Automotive parts have seen a strong demand in the past few months, and that trend is likely to continue pushing shares higher.
Traders may do better betting on a continued upside in shares. The February 2021 $95 calls have a bid/ask spread around $4.40, and could deliver mid-to-high double-digit returns if shares continue trending back to their 52-week high.