Redwood Investment Management LLC Invests $1.67 Million in LKQ Corporation $LKQ

Key Points

• Redwood Investment Management LLC has acquired a new position in LKQ Corporation, purchasing 39,248 shares valued at approximately $1,670,000 during the first quarter.
• Several institutional investors, including Boothbay Fund Management LLC and AQR Capital Management LLC, have increased their stakes in LKQ, highlighting significant institutional interest with hedge funds owning 95.63% of the stock.
• LKQ recently reported a quarterly earnings per share (EPS) of $0.87, which missed analysts' expectations of $0.93, and declared a quarterly dividend of $0.30 per share with a yield of 3.8%.

Redwood Investment Management LLC acquired a new stake in shares of LKQ Corporation (NASDAQ:LKQ - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 39,248 shares of the auto parts company's stock, valued at approximately $1,670,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd purchased a new position in LKQ in the first quarter valued at about $30,000. Banque Cantonale Vaudoise purchased a new stake in LKQ in the 1st quarter worth approximately $40,000. UMB Bank n.a. grew its stake in LKQ by 104.8% in the 1st quarter. UMB Bank n.a. now owns 977 shares of the auto parts company's stock worth $42,000 after acquiring an additional 500 shares during the period. Horizon Financial Services LLC purchased a new stake in LKQ in the 1st quarter worth approximately $42,000. Finally, Bruce G. Allen Investments LLC boosted its holdings in shares of LKQ by 299.6% in the 1st quarter. Bruce G. Allen Investments LLC now owns 1,135 shares of the auto parts company's stock valued at $48,000 after purchasing an additional 851 shares during the last quarter. Institutional investors and hedge funds own 95.63% of the company's stock.

LKQ Price Performance

LKQ stock traded up $0.37 on Friday, hitting $32.62. 3,308,045 shares of the company's stock traded hands, compared to its average volume of 4,340,473. LKQ Corporation has a 1-year low of $28.92 and a 1-year high of $44.82. The stock has a market cap of $8.39 billion, a price-to-earnings ratio of 11.95 and a beta of 0.92. The stock has a fifty day moving average of $34.09 and a 200-day moving average of $38.34. 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 (NASDAQ:LKQ - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The auto parts company reported $0.87 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 analyst estimates of $3.62 billion. During the same quarter in the prior year, the firm earned $0.98 EPS. The firm's revenue was down 1.6% compared to the same quarter last year. LKQ has set its FY 2025 guidance at 3.000-3.30 EPS. On average, analysts forecast that LKQ Corporation will post 3.57 EPS for the current fiscal year.

LKQ Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were paid a dividend of $0.30 per share. The ex-dividend date was Thursday, August 14th. This represents a $1.20 annualized dividend and a dividend yield of 3.7%. LKQ's dividend payout ratio is 43.96%.

Wall Street Analysts Forecast Growth

LKQ has been the topic of several recent research reports. Wall Street Zen lowered shares of LKQ from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Barrington Research reiterated an "outperform" rating and issued a $60.00 price objective on shares of LKQ in a report on Tuesday, July 22nd. Finally, Robert W. Baird dropped their target price on shares of LKQ from $48.00 to $42.00 and set an "outperform" rating for the company in a research report on Friday, July 25th. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, LKQ has an average rating of "Buy" and a consensus target price of $51.40.

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.