Genuine Parts buys rest of Inenco

Article Excerpt

GENUINE PARTS CO. $98 (New York symbol GPC; Income Portfolio, Manufacturing & Industry sector; Shares outstanding: 146.8 million; Market cap: $14.4 billion; Price-to-sales ratio: 0.8; Dividend yield: 3.1%; TSINetwork Rating: Average; www.genpt.com) has agreed to buy the remaining 65% of Inenco Group that it does not already own. Inenco distributes auto parts through 160 locations in Australia and New Zealand. The company has yet to reveal the purchase price. However, it paid $72.1 million in 2017 for its initial 35% stake in Inenco. Using acquisitions to spur growth adds risk. However, genuine has a long history of successful integrating its new businesses. Genuine Parts is a buy. buy…