Improved sales of automotive parts led to a 9.1% revenue rise for this company during the most-recent quarter.
A cost control plan continues to help boost earnings, while the stock trades at 23.0 times the company’s 2021 earnings forecast.
GENUINE PARTS CO. (New York symbol GPC; www.genpt.com) is a leading seller of replacement auto parts. It has 1,100 company-owned stores (under the famous NAPA banner) and independent outlets in North America, Europe, Australia and New Zealand. Genuine also distributes industrial parts and electrical equipment.
The company’s sales in the three months ended March 31, 2021, rose 9.1%, to $4.46 billion from $4.09 billion a year earlier. That’s due to improving demand for automotive and industrial equipment as the global economy reopens. Genuine continues to benefit from a recent cost-control plan. Its earnings in the quarter before one-time items jumped 87.5%, to $1.50 a share from $0.80.
For all of 2021, Genuine expects its overall sales will rise between 4% and 6%. It also expects to earn between $5.55 and $5.75 a share. The stock trades at 23.0 times the midpoint of that range, which is a reasonable p/e for your new buying.
Value Stocks: The latest dividend raise has a long tradition
Starting with the April 2021 payment, it raised your quarterly dividend by 3.2%. Investors now receive $0.815 a share instead of $0.79. The annual rate of $3.26 offers you an appealing 2.5% yield. Investors have enjoyed an annual dividend increase for 65 consecutive years.
Including this latest increase, over the last five years, Genuine has increased its dividend 4.4% on average each year. Its TSI Dividend Sustainability Rating is Above Average.
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I agree that at least 20% of my investment should be outside Canada
On another front, I have no shares in a REIT. Are any of your advisories commenting on REITs?
Thanks. You’ll find REITs in most of our publications. Inner Circle Pro members access all of them.