Advance Auto Parts, Inc. (NYSE:AAP) Stock Holdings Raised by Solas Capital Management LLC

Solas Capital Management LLC increased its position in Advance Auto Parts, Inc. (NYSE:AAP - Free Report) by 9.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 235,484 shares of the company's stock after buying an additional 20,000 shares during the period. Advance Auto Parts accounts for 7.4% of Solas Capital Management LLC's portfolio, making the stock its 5th largest holding. Solas Capital Management LLC owned 0.39% of Advance Auto Parts worth $11,136,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its position in Advance Auto Parts by 34.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,685,541 shares of the company's stock worth $316,160,000 after purchasing an additional 1,706,328 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in Advance Auto Parts by 11.2% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 3,449,554 shares of the company's stock worth $163,129,000 after purchasing an additional 347,587 shares in the last quarter. Pzena Investment Management LLC boosted its position in Advance Auto Parts by 12.5% in the 4th quarter. Pzena Investment Management LLC now owns 3,270,897 shares of the company's stock valued at $154,681,000 after buying an additional 362,239 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Advance Auto Parts by 12.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,728,289 shares of the company's stock valued at $129,016,000 after buying an additional 297,741 shares during the period. Finally, Cooper Creek Partners Management LLC acquired a new stake in shares of Advance Auto Parts during the fourth quarter worth $75,055,000. Institutional investors own 88.75% of the company's stock.

Insider Activity at Advance Auto Parts

In other news, CEO Shane M. Okelly purchased 1,500 shares of Advance Auto Parts stock in a transaction that occurred on Tuesday, March 11th. The stock was bought at an average price of $36.79 per share, with a total value of $55,185.00. Following the completion of the transaction, the chief executive officer now directly owns 183,121 shares of the company's stock, valued at approximately $6,737,021.59. The trade was a 0.83 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eugene I. Lee, Jr. purchased 14,640 shares of Advance Auto Parts stock in a transaction dated Thursday, March 6th. The stock was bought at an average price of $34.15 per share, with a total value of $499,956.00. Following the completion of the purchase, the director now directly owns 34,070 shares of the company's stock, valued at approximately $1,163,490.50. This trade represents a 75.35 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.35% of the stock is currently owned by corporate insiders.

Advance Auto Parts Trading Up 0.6 %

AAP traded up $0.18 on Thursday, hitting $32.90. 580,875 shares of the company were exchanged, compared to its average volume of 2,221,221. The firm has a fifty day simple moving average of $35.55 and a two-hundred day simple moving average of $40.75. Advance Auto Parts, Inc. has a 12 month low of $28.89 and a 12 month high of $77.49. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.62 and a current ratio of 1.34. The stock has a market capitalization of $1.97 billion, a PE ratio of 45.06, a price-to-earnings-growth ratio of 1.98 and a beta of 1.07.

Advance Auto Parts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Friday, April 11th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend was Friday, April 11th. Advance Auto Parts's dividend payout ratio is currently -17.86%.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Truist Financial reduced their target price on Advance Auto Parts from $39.00 to $34.00 and set a "hold" rating on the stock in a report on Thursday, February 27th. BMO Capital Markets lowered their target price on Advance Auto Parts from $45.00 to $40.00 and set a "market perform" rating on the stock in a research report on Thursday, February 27th. Barclays reduced their price target on Advance Auto Parts from $66.00 to $54.00 and set an "equal weight" rating for the company in a report on Thursday, January 9th. Citigroup decreased their price target on shares of Advance Auto Parts from $47.00 to $40.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th. Finally, Wells Fargo & Company upped their price target on shares of Advance Auto Parts from $40.00 to $45.00 and gave the company an "equal weight" rating in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $45.13.

Advance Auto Parts Profile

Advance Auto Parts, Inc provides automotive replacement parts, accessories, batteries, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. The company offers battery accessories; belts and hoses; brakes and brake pads; chassis and climate control parts; clutches and drive shafts; engines and engine parts; exhaust systems and parts; hub assemblies; ignition components and wires; radiators and cooling parts; starters and alternators; and steering and alignment parts.