Studio Investment Management LLC Buys 485 Shares of LKQ Co. (NASDAQ:LKQ)

Studio Investment Management LLC increased its stake in LKQ Co. (NASDAQ:LKQ) by 5.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,701 shares of the auto parts company’s stock after purchasing an additional 485 shares during the quarter. Studio Investment Management LLC’s holdings in LKQ were worth $403,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Daiwa Securities Group Inc. increased its holdings in LKQ by 6.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 102,556 shares of the auto parts company’s stock worth $4,265,000 after acquiring an additional 5,790 shares during the last quarter. Choreo LLC increased its stake in shares of LKQ by 31.3% in the second quarter. Choreo LLC now owns 22,929 shares of the auto parts company’s stock worth $952,000 after purchasing an additional 5,460 shares in the last quarter. Ballentine Partners LLC raised its position in shares of LKQ by 5.9% in the second quarter. Ballentine Partners LLC now owns 13,938 shares of the auto parts company’s stock valued at $580,000 after purchasing an additional 780 shares during the period. Caprock Group LLC purchased a new stake in shares of LKQ during the 2nd quarter valued at approximately $278,000. Finally, Acadian Asset Management LLC boosted its holdings in LKQ by 676.3% in the 2nd quarter. Acadian Asset Management LLC now owns 6,723 shares of the auto parts company’s stock worth $278,000 after buying an additional 5,857 shares during the period. Hedge funds and other institutional investors own 95.63% of the company’s stock.

LKQ Price Performance

Shares of NASDAQ:LKQ opened at $38.98 on Wednesday. The company’s fifty day moving average price is $41.49 and its 200-day moving average price is $44.82. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.75 and a quick ratio of 0.70. The firm has a market capitalization of $10.26 billion, a price-to-earnings ratio of 12.66 and a beta of 1.29. LKQ Co. has a one year low of $35.57 and a one year high of $53.68.

LKQ (NASDAQ:LKQ) last released its quarterly earnings results on Thursday, July 25th. The auto parts company reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.05). LKQ had a net margin of 5.03% and a return on equity of 15.33%. The firm had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.87 billion. During the same quarter in the previous year, the business earned $1.09 EPS. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities research analysts anticipate that LKQ Co. will post 3.6 earnings per share for the current fiscal year.

LKQ Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.08%. The ex-dividend date was Thursday, August 15th. LKQ’s dividend payout ratio is currently 38.96%.

Insider Buying and Selling at LKQ

In other LKQ news, CEO Justin L. Jude acquired 2,500 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was bought at an average price of $39.91 per share, with a total value of $99,775.00. Following the purchase, the chief executive officer now owns 207,515 shares of the company’s stock, valued at $8,281,923.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Justin L. Jude acquired 2,500 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were purchased at an average price of $39.91 per share, for a total transaction of $99,775.00. Following the completion of the acquisition, the chief executive officer now owns 207,515 shares in the company, valued at $8,281,923.65. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Andrew C. Clarke bought 7,600 shares of the stock in a transaction dated Friday, July 26th. The stock was bought at an average cost of $39.70 per share, with a total value of $301,720.00. Following the purchase, the director now owns 10,519 shares in the company, valued at approximately $417,604.30. The disclosure for this purchase can be found here. Insiders have acquired 12,600 shares of company stock worth $500,870 over the last ninety days. Insiders own 0.55% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on LKQ shares. Robert W. Baird lowered their target price on shares of LKQ from $54.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Roth Mkm reiterated a “buy” rating and set a $65.00 price objective on shares of LKQ in a research note on Thursday, July 25th. StockNews.com upgraded LKQ from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Barrington Research reaffirmed an “outperform” rating and set a $60.00 target price on shares of LKQ in a report on Thursday, July 25th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, LKQ currently has an average rating of “Buy” and an average price target of $60.80.

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.