O'Reilly Automotive conducts stock split

Springfield-based auto parts retailer O'Reilly Automotive Inc. (Nasdaq: ORLY) has conducted a 15-for-1 stock split that was announced this spring.

ORLY stock was trading at $90.44 as of 10:24 a.m., compared with previously priced shares in the low $1,000s. The stock split was conducted after the market closed yesterday, and shares began trading on a post-split basis today.

“It was encouraging to get on our corporate website this morning and see the share price at $89.87 – a per share price that enables our team members to buy a whole share more easily through our employee stock purchase plan,” said Brad Beckham, O'Reilly Automotive CEO, in a statement provided to Springfield Business Journal this morning. “This is a great way for them to benefit from the hard work they put in to our company’s growth through more than just their pay and benefits. It’s opportunities like this, and our promote-from-within philosophy, that make O’Reilly such a great place to grow a career.”

O'Reilly Automotive announced in March that its board gave the green light to the stock split, through which shareholders of record as of June 2 would receive 14 additional shares of common stock for each share held.

The post-split ORLY stock's 52-week range is listed as $65.06 to $97.22 per share. When the stock split was announced in March, the 52-week range was $947.49 to $1,389.05 per share.

The company previously enacted two-for-one stock splits in June 2005, December 1999 and September 1997, according to past reporting. 

During the first quarter, O'Reilly Automotive reported net income of $538.5 million, a 1.6% decrease from $547.2 million a year earlier. Revenue during the quarter came to $4.1 billion, a roughly 4% increase.