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| Snag This Bargain Even Cheaper Than Director Loudermilk Jr. DidBy Dividend Channel Staff, Monday, October 2, 10:39 AM ET
There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on June 2, Genuine Parts Co.'s Director, Robert C. Loudermilk Jr., invested $303,500.00 into 2,000 shares of GPC, for a cost per share of $151.75. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money. In trading on Monday, bargain hunters could buy shares of Genuine Parts Co. (NYSE:GPC) and achieve a cost basis 5.6% cheaper than Loudermilk Jr., with shares changing hands as low as $143.32 per share. It should be noted that Loudermilk Jr. has collected $0.95/share in dividends since the time of their purchase, so they are currently down 4.9% on their purchase from a total return basis. Genuine Parts Co. shares are currently trading down about 0.3% on the day. The chart below shows the one year performance of GPC shares, versus its 200 day moving average:
Looking at the chart above, GPC's low point in its 52 week range is $141.66 per share, with $187.725 as the 52 week high point — that compares with a last trade of $143.61. By comparison, below is a table showing the prices at which GPC insider buying was recorded over the last six months:
The current annualized dividend paid by Genuine Parts Co. is $3.8/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 09/07/2023. Below is a long-term dividend history chart for GPC, which can be of good help in judging whether the most recent dividend with approx. 2.6% annualized yield is likely to continue.
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