Genuine Parts Co. (GPC, Financial) (4.6%) (GPC – $169.23 – NYSE) is an Atlanta, Georgia-based distributor of automotive and industrial replacement parts. GPC has a strong competitive position in both its Industrial and Automotive segments and should continue to drive earnings via scale and operational execution. The company should continue to deliver growth, as consumers see the value in repairing their vehicles over buying new, and the industrial market benefits from reshoring and exposure to high growth end markets in automation and conveyance. Management has shown consistent dedication to shareholder value via share repurchases and dividend increases and has a history of driving solid returns during periods of economic volatility.
From Mario Gabelli (Trades, Portfolio)'s Gabelli Value 25 Fund second-quarter 2023 commentary.
