Mitsubishi UFJ Asset Management Co. Ltd. Buys 38,368 Shares of LKQ Corporation (NASDAQ:LKQ)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in LKQ Corporation by 8.7%, now owning 478,612 shares worth approximately $20.36 million.
• LKQ Corporation reported earnings per share of $0.87 for the last quarter, falling short of analysts' expectations of $0.93, with revenues of $3.64 billion.
• The company declared a quarterly dividend of $0.30 per share, yielding 4.1%, set to be paid on August 28th.

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in LKQ Corporation (NASDAQ:LKQ - Free Report) by 8.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 478,612 shares of the auto parts company's stock after purchasing an additional 38,368 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.19% of LKQ worth $20,360,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its position in LKQ by 25.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,231,940 shares of the auto parts company's stock valued at $192,268,000 after acquiring an additional 1,053,001 shares during the period. Fuller & Thaler Asset Management Inc. purchased a new position in LKQ during the 4th quarter valued at about $165,548,000. EdgePoint Investment Group Inc. purchased a new position in LKQ during the 4th quarter valued at about $160,339,000. Northern Trust Corp lifted its position in LKQ by 9.1% during the 4th quarter. Northern Trust Corp now owns 2,685,613 shares of the auto parts company's stock valued at $98,696,000 after acquiring an additional 223,510 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in LKQ by 3.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,648,612 shares of the auto parts company's stock valued at $112,672,000 after acquiring an additional 75,936 shares during the period. 95.63% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Barrington Research reissued an "outperform" rating and set a $60.00 price target on shares of LKQ in a research report on Tuesday, July 22nd. Robert W. Baird reduced their price objective on shares of LKQ from $48.00 to $42.00 and set an "outperform" rating for the company in a research note on Friday, July 25th. Finally, Wall Street Zen lowered shares of LKQ from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $51.40.

LKQ Stock Down 1.7%

NASDAQ:LKQ traded down $0.55 on Friday, reaching $31.01. 740,273 shares of the stock traded hands, compared to its average volume of 2,581,846. The company has a market capitalization of $7.98 billion, a price-to-earnings ratio of 11.37 and a beta of 0.92. The company has a current ratio of 1.81, a quick ratio of 0.69 and a debt-to-equity ratio of 0.19. LKQ Corporation has a 12 month low of $28.92 and a 12 month high of $44.82. The company's fifty day simple moving average is $35.58 and its 200 day simple moving average is $38.79.

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

LKQ Announces Dividend

The business also recently declared 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 3.9%. LKQ's payout ratio is currently 43.96%.

LKQ 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.