Systematic Ideas - Short Genuine Parts & Neste Oil, Long Paccar - 11 J

New Longs: PCAR New Shorts: GPC, NESTE FH Closing Positions: WKL NA, CNA LN, PNDORA DC, TIT IM, TSO Short Genuine Parts Co (GPC US) Increasing debt, declining margins and stagnant revenue numbers have put a lid on Genuine Parts’ stock price for the last few years. Increased competition in the automotive business that is already skewed towards lower margins has seen Genuine Parts lose third place (by sales) to O’Reilly in 2016. With the tailwinds in the automotive segment expected to slow ov...