GENUINE PARTS CO. $87 (New York symbol GPC; Conservative Growth and Income Portfolios, Manufacturing & Industry sector; Shares outstanding: 153.6 million; Marketcap: $13.4 billion; Price-to-sales ratio: 0.9; Dividend yield: 2.6%; TSINetwork Rating: Average; www.genpt.com) has agreed to pay an undisclosed sum for Toledo, Ohio-based Impact Products. This privately held firm sells janitorial equipment, such as mops, pails, safety glasses and first aid kits, to businesses.
Expanding by acquisition adds risk, but the purchase looks like a good fit with Genuine’s office supplies and furniture business. The new operations will also add $85 million to Genuine’s $14.1 billion of annual sales. Moreover, small purchases like this tend to be easier to integrate.
The stock now trades at 19.0 times the company’s projected 2014 earnings of $4.58 a share. That’s a high p/e for a firm that supplies clients in cyclical industries like auto parts and manufacturing.
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Privacy Policy and Terms of Use
The Successful Investor Inc. and its affiliate Successful Investor Wealth Management (referred to hereafter as TSI Network) know that you care how information about you is used and shared, and we appreciate your trust that we will do so carefully and sensibly. This notice describes our privacy policy. By visiting websites owned by or associated with TSI Network, you are accepting the practices described in this Privacy Policy.
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