LKQ Corporation (NASDAQ:LKQ) Announces $0.30 Quarterly Dividend

LKQ Corporation (NASDAQ:LKQ - Get Free Report) declared a quarterly dividend on Thursday, July 24th, RTT News reports. Stockholders of record on Thursday, August 14th will be given a dividend of 0.30 per share by the auto parts company on Thursday, August 28th. This represents a $1.20 annualized dividend and a dividend yield of 3.89%.

LKQ has a payout ratio of 31.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect LKQ to earn $4.01 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 29.9%.

LKQ Stock Down 20.1%

Shares of LKQ traded down $7.75 on Thursday, hitting $30.86. 7,536,397 shares of the stock traded hands, compared to its average volume of 2,390,899. The company has a market capitalization of $7.97 billion, a PE ratio of 11.48 and a beta of 0.95. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.56 and a current ratio of 1.52. The business has a 50 day simple moving average of $38.88 and a 200 day simple moving average of $39.60. LKQ has a one year low of $30.06 and a one year high of $44.82.

LKQ (NASDAQ:LKQ - Get Free Report) last posted its 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 14.66% and a net margin of 4.97%. The company had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.62 billion. During the same period last year, the firm posted $0.98 EPS. The company's revenue for the quarter was down 1.6% on a year-over-year basis. As a group, equities analysts forecast that LKQ will post 3.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on LKQ shares. Wall Street Zen cut shares of LKQ from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Barrington Research restated an "outperform" rating and set a $60.00 target price on shares of LKQ in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $52.60.

Insider Buying and Selling at LKQ

In other LKQ news, CEO Justin L. Jude bought 2,708 shares of LKQ stock in a transaction dated Friday, April 25th. The shares were purchased at an average cost of $36.99 per share, for a total transaction of $100,168.92. Following the acquisition, the chief executive officer directly owned 280,777 shares in the company, valued at approximately $10,385,941.23. This represents a 0.97% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Dominick P. Zarcone sold 5,000 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $38.02, for a total transaction of $190,100.00. Following the transaction, the director owned 316,135 shares in the company, valued at $12,019,452.70. The trade was a 1.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.55% of the stock is owned by insiders.

Hedge Funds Weigh In On LKQ

A number of hedge funds have recently added to or reduced their stakes in LKQ. Integrated Wealth Concepts LLC purchased a new stake in shares of LKQ in the 1st quarter worth approximately $278,000. Empowered Funds LLC acquired a new position in LKQ during the 1st quarter valued at approximately $1,162,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in LKQ by 2.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,476 shares of the auto parts company's stock valued at $1,339,000 after purchasing an additional 807 shares in the last quarter. 95.63% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.