Why Genuine Parts Company Stock Lost 18% in the First Half of 2020
Shares of Genuine Parts Company (NYSE: GPC) fell about 18% over the first six months of 2020, according to data from S&P Global Market Intelligence. That compares to a roughly 5% drop in the S&P 500. It wasn't a great first half, with the stock down as much as 50% at one point, but investors shouldn't get too upset about this industrial name's pullback.
Genuine Parts makes replacement auto and industrial parts. It has a broad distribution network that ensures the timely delivery of those parts to customers. It is a well-respected business with a long history of success behind it. The best example of that success is the company's 60-plus years of annual dividend hikes. You don't put up a record like that without doing something right along the way.
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Source Fool.com