Olstein Capital Management L.P. Grows Position in LKQ Co. (NASDAQ:LKQ)

Olstein Capital Management L.P. grew its holdings in LKQ Co. (NASDAQ:LKQ) by 23.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 250,000 shares of the auto parts company’s stock after buying an additional 48,000 shares during the period. LKQ accounts for about 1.7% of Olstein Capital Management L.P.’s portfolio, making the stock its 9th biggest holding. Olstein Capital Management L.P.’s holdings in LKQ were worth $9,980,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Catalyst Capital Advisors LLC acquired a new position in LKQ in the 3rd quarter valued at about $25,000. Rothschild Investment LLC bought a new stake in shares of LKQ during the second quarter worth approximately $33,000. Allworth Financial LP grew its position in shares of LKQ by 94.2% in the third quarter. Allworth Financial LP now owns 1,010 shares of the auto parts company’s stock valued at $40,000 after purchasing an additional 490 shares during the last quarter. Bruce G. Allen Investments LLC increased its stake in shares of LKQ by 33.5% during the third quarter. Bruce G. Allen Investments LLC now owns 1,151 shares of the auto parts company’s stock worth $46,000 after purchasing an additional 289 shares during the period. Finally, Banque Cantonale Vaudoise lifted its holdings in LKQ by 29.8% during the 2nd quarter. Banque Cantonale Vaudoise now owns 1,211 shares of the auto parts company’s stock worth $50,000 after purchasing an additional 278 shares during the last quarter. 95.63% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Robert W. Baird lowered their price objective on LKQ from $50.00 to $48.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Stifel Nicolaus lowered their price target on shares of LKQ from $53.00 to $47.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. JPMorgan Chase & Co. boosted their price objective on shares of LKQ from $54.00 to $55.00 and gave the company an “overweight” rating in a report on Thursday, September 12th. Roth Mkm reaffirmed a “buy” rating and set a $59.00 target price on shares of LKQ in a report on Thursday, September 12th. Finally, StockNews.com cut LKQ from a “buy” rating to a “hold” rating in a research note on Tuesday. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, LKQ presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.80.

LKQ Price Performance

NASDAQ:LKQ traded up $0.01 during mid-day trading on Thursday, reaching $38.15. The stock had a trading volume of 110,564 shares, compared to its average volume of 1,923,779. The stock has a 50-day simple moving average of $39.30 and a two-hundred day simple moving average of $41.26. The stock has a market capitalization of $9.92 billion, a PE ratio of 14.23 and a beta of 1.29. LKQ Co. has a 12 month low of $35.57 and a 12 month high of $53.68. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.72 and a quick ratio of 0.67.

LKQ (NASDAQ:LKQ) last posted its quarterly earnings results on Thursday, October 24th. The auto parts company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.01. The company had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.65 billion. LKQ had a return on equity of 15.15% and a net margin of 4.90%. LKQ’s revenue was up .4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.86 EPS. On average, equities analysts anticipate that LKQ Co. will post 3.43 earnings per share for the current year.

LKQ Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 3.15%. LKQ’s dividend payout ratio (DPR) is presently 44.78%.

LKQ Company Profile

LKQ Corporation engages in the distribution of replacement parts, components, and systems used in the repair and maintenance of vehicles and specialty vehicle aftermarket products and accessories. It operates through four segments: Wholesale-North America, Europe, Specialty, and Self Service. The company distributes bumper covers, automotive body panels, and lights, as well as mechanical automotive parts and accessories; salvage products, including mechanical and collision parts comprising engines; transmissions; door assemblies; sheet metal products, such as trunk lids, fenders, and hoods; lights and bumper assemblies; scrap metal and other materials to metals recyclers; and brake pads, discs and sensors, clutches, steering and suspension products, filters, and oil and automotive fluids, as well as electrical products, including spark plugs and batteries.