Genuine Parts Company (NYSE:GPC), saw an insider alter their holdings with the company through a transaction that began earlier in the week and was officially filed today, August 27th. Chief Executive Officer Thomas Gallagher acquired 5,753 shares of common stock at an average price of $88.12 per share, and now has a total of 521,176 shares directly invested in the company. Moreover, a $13.48 billion market cap corporation, Genuine Parts Company (NYSE:GPC) is a service organization engaged in the distribution of automotive replacement parts, industrial replacement parts, office products and electrical/electronic materials.
In addition, while there are multiple outside investors, the largest comes from Billionaire Mario Gabelli‘s Gamco Investors hedge fund. As well, after reporting a 1% rise in its involvement with the company over the course of the last fiscal quarter, the fund now holds about 2.67 million shares worth approximately $234 million invested in Genuine Parts Company (NYSE:GPC).
Disclosure: The author, Daniel Forstein, holds no positions in any stocks mentioned.