Genuine Parts Company (GPC) is Recovering From its Pandemic Lows

Carillon Tower Advisers, an investment management company, released its “Carillon Chartwell Mid Cap Value Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. The market witnessed extreme volatility in the quarter, and the equity market segment returns ranged from -2% to -5%. The Russell Mid Cap Value index declined nearly 5% in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Carillon Tower highlighted stocks like Genuine Parts Company (NYSE:GPC) in the Q3 2022 investor letter. Headquartered in Atlanta, Georgia, Genuine Parts Company (NYSE:GPC) is an industrial and automotive parts distributor. On November 18, 2022, Genuine Parts Company (NYSE:GPC) stock closed at $180.68 per share. One-month return of Genuine Parts Company (NYSE:GPC) was 5.94% and its shares gained 32.02% of their value over the last 52 weeks. Genuine Parts Company (NYSE:GPC)  has a market capitalization of $25.505 billion.

Carillon Tower made the following comment about Genuine Parts Company (NYSE:GPC) in its Q3 2022 investor letter:

Genuine Parts Company (NYSE:GPC) operates two global distribution businesses, one focused on automotive replacement parts and the other focused on industrial replacement parts. Both businesses experienced strong same store sales growth and margin expansion in the prior quarter, as demand continued to rebound from pandemic lows.”

Genuine Parts Company (NYSE:GPC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 36 hedge fund portfolios held Genuine Parts Company (NYSE:GPC) at the end of the third quarter, which was 32 in the previous quarter.

We discussed Genuine Parts Company (NYSE:GPC) in another article and shared the top 25 Dividend Kings by yield. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.