Patton Fund Management Inc. Has $3.13 Million Stock Holdings in LKQ Co. (NASDAQ:LKQ)

Patton Fund Management Inc. trimmed its holdings in LKQ Co. (NASDAQ:LKQ) by 6.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,716 shares of the auto parts company’s stock after selling 3,698 shares during the period. Patton Fund Management Inc.’s holdings in LKQ were worth $3,130,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Clear Street Markets LLC lifted its holdings in LKQ by 94.1% during the 1st quarter. Clear Street Markets LLC now owns 497 shares of the auto parts company’s stock worth $28,000 after purchasing an additional 241 shares during the last quarter. Covestor Ltd lifted its holdings in shares of LKQ by 81.1% during the first quarter. Covestor Ltd now owns 623 shares of the auto parts company’s stock worth $28,000 after buying an additional 279 shares in the last quarter. Desjardins Global Asset Management Inc. bought a new stake in shares of LKQ in the first quarter valued at about $35,000. Venturi Wealth Management LLC bought a new position in LKQ during the first quarter worth about $36,000. Finally, Steward Partners Investment Advisory LLC raised its stake in LKQ by 55.3% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 736 shares of the auto parts company’s stock worth $42,000 after purchasing an additional 262 shares in the last quarter. Institutional investors and hedge funds own 93.67% of the company’s stock.

Insider Activity

In related news, CEO Dominick P. Zarcone sold 32,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $51.74, for a total transaction of $1,655,680.00. Following the completion of the transaction, the chief executive officer now directly owns 495,004 shares in the company, valued at approximately $25,611,506.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.55% of the stock is currently owned by corporate insiders.

LKQ Price Performance

Shares of LKQ stock traded up $0.04 on Tuesday, reaching $50.15. 83,056 shares of the stock were exchanged, compared to its average volume of 1,353,597. The firm’s 50 day moving average is $53.80 and its 200-day moving average is $54.99. The firm has a market cap of $13.42 billion, a PE ratio of 13.43 and a beta of 1.35. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.15 and a current ratio of 2.03. LKQ Co. has a one year low of $46.20 and a one year high of $59.38.

LKQ (NASDAQ:LKQ) last issued its earnings results on Thursday, July 27th. The auto parts company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. LKQ had a return on equity of 18.65% and a net margin of 7.80%. The firm had revenue of $3.45 billion for the quarter, compared to the consensus estimate of $3.46 billion. During the same quarter last year, the business posted $1.09 EPS. The company’s revenue was up 3.2% compared to the same quarter last year. As a group, analysts anticipate that LKQ Co. will post 3.98 EPS for the current fiscal year.

LKQ Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Thursday, August 17th were paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend was Wednesday, August 16th. LKQ’s payout ratio is 29.49%.

Wall Street Analyst Weigh In

LKQ has been the topic of a number of analyst reports. Robert W. Baird restated an “outperform” rating and set a $65.00 target price on shares of LKQ in a research report on Monday, August 28th. StockNews.com upgraded LKQ from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 13th.

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 automotive glass products, such as windshields; 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.