Genuine Parts Company (NYSE: GPC) is a four-segment business that distributes and sells car replacement parts, industrial replacements parts, office products and electrical/electronic materials. It operates about 2,600 stores in the United States, Canada, Mexico, New Zealand and Australia. If you love spectacular growth, Genuine Parts Company is not for you. But for income investors, GPC is a great bargain. First, I want to briefly review the issues that have accounted for the company’s so-far middling performance, and then I will tell you why I think it’s a fantastic buy right now.
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