CCM Investment Group LLC Purchases Shares of 25,014 LKQ Corporation (NASDAQ:LKQ)

Key Points

• CCM Investment Group LLC acquired a new stake in LKQ Corporation worth approximately $1,040,000, purchasing 25,014 shares in the first quarter.
• Following recent adjustments, 95.63% of LKQ's stock is now owned by institutional investors, indicating strong institutional interest in the company.
• LKQ reported quarterly earnings of $0.87 per share, missing estimates by $0.06, and announced a quarterly dividend which yields 4.1% annually.

CCM Investment Group LLC bought a new position in LKQ Corporation (NASDAQ:LKQ - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 25,014 shares of the auto parts company's stock, valued at approximately $1,040,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC purchased a new position in shares of LKQ during the 1st quarter valued at $321,000. Goodman Financial Corp lifted its stake in shares of LKQ by 2.8% during the 1st quarter. Goodman Financial Corp now owns 317,305 shares of the auto parts company's stock valued at $13,498,000 after buying an additional 8,502 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in shares of LKQ during the 1st quarter valued at $1,618,000. Amalgamated Bank lifted its stake in shares of LKQ by 1.6% during the 1st quarter. Amalgamated Bank now owns 50,851 shares of the auto parts company's stock valued at $2,163,000 after buying an additional 801 shares in the last quarter. Finally, Aquatic Capital Management LLC lifted its stake in shares of LKQ by 53.2% during the 4th quarter. Aquatic Capital Management LLC now owns 19,298 shares of the auto parts company's stock valued at $709,000 after buying an additional 6,698 shares in the last quarter. Hedge funds and other institutional investors own 95.63% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on LKQ. Barrington Research restated an "outperform" rating and set a $60.00 target price on shares of LKQ in a research note on Tuesday, July 22nd. Robert W. Baird lowered their target price on shares of LKQ from $48.00 to $42.00 and set an "outperform" rating on the stock in a research note on Friday, July 25th. Finally, Wall Street Zen cut shares of LKQ from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, LKQ has a consensus rating of "Moderate Buy" and an average target price of $51.40.

LKQ Price Performance

Shares of LKQ stock traded up $1.59 during trading hours on Wednesday, reaching $31.71. The company's stock had a trading volume of 4,303,012 shares, compared to its average volume of 3,875,538. The stock has a market cap of $8.16 billion, a P/E ratio of 11.62 and a beta of 0.92. LKQ Corporation has a one year low of $28.92 and a one year high of $44.82. The firm has a 50 day moving average price of $35.73 and a 200-day moving average price of $38.84. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.81 and a quick ratio of 0.69.

LKQ (NASDAQ:LKQ - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The auto parts company reported $0.87 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.06). LKQ had a net margin of 5.04% and a return on equity of 13.85%. The firm had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.62 billion. During the same quarter in the previous year, the company posted $0.98 earnings per share. The business's revenue for the quarter was down 1.6% on a year-over-year basis. On average, analysts predict that LKQ Corporation will post 3.57 EPS for the current year.

LKQ Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th will be paid a $0.30 dividend. The ex-dividend date is Thursday, August 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.8%. LKQ's dividend payout ratio is presently 43.96%.

About LKQ

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.