First Trust Advisors LP increased its position in Standard Motor Products, Inc. (NYSE:SMP) by 85.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,719 shares of the auto parts company’s stock after acquiring an additional 8,639 shares during the period. First Trust Advisors LP owned about 0.08% of Standard Motor Products worth $909,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of SMP. Nuveen Asset Management LLC bought a new stake in shares of Standard Motor Products in the second quarter worth $3,704,000. Tributary Capital Management LLC grew its holdings in Standard Motor Products by 15.5% during the third quarter. Tributary Capital Management LLC now owns 425,148 shares of the auto parts company’s stock valued at $20,641,000 after purchasing an additional 56,965 shares during the period. Neumeier Poma Investment Counsel LLC grew its holdings in Standard Motor Products by 12.1% during the second quarter. Neumeier Poma Investment Counsel LLC now owns 459,940 shares of the auto parts company’s stock valued at $20,854,000 after purchasing an additional 49,800 shares during the period. Schroder Investment Management Group grew its holdings in Standard Motor Products by 16.6% during the second quarter. Schroder Investment Management Group now owns 232,843 shares of the auto parts company’s stock valued at $10,557,000 after purchasing an additional 33,134 shares during the period. Finally, Renaissance Technologies LLC lifted its position in shares of Standard Motor Products by 36.7% in the second quarter. Renaissance Technologies LLC now owns 109,800 shares of the auto parts company’s stock valued at $4,978,000 after acquiring an additional 29,500 shares in the last quarter. 79.00% of the stock is owned by institutional investors.
Shares of Standard Motor Products stock opened at $50.37 on Monday. The stock’s 50-day simple moving average is $51.09 and its 200-day simple moving average is $46.93. Standard Motor Products, Inc. has a 52 week low of $42.03 and a 52 week high of $55.85. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 19.75, a PEG ratio of 1.49 and a beta of 1.01. The company has a quick ratio of 0.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.06.
Standard Motor Products (NYSE:SMP) last announced its quarterly earnings data on Wednesday, October 30th. The auto parts company reported $1.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.10. Standard Motor Products had a return on equity of 14.40% and a net margin of 4.35%. The business had revenue of $307.70 million for the quarter, compared to the consensus estimate of $311.11 million. During the same period in the previous year, the business earned $0.83 earnings per share. The business’s revenue was up 3.7% on a year-over-year basis. On average, equities analysts expect that Standard Motor Products, Inc. will post 3.08 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be given a $0.23 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.92 annualized dividend and a dividend yield of 1.83%. Standard Motor Products’s payout ratio is 36.08%.
Separately, Zacks Investment Research downgraded Standard Motor Products from a “buy” rating to a “sell” rating and set a $56.00 price objective on the stock. in a research report on Monday, November 4th.
In related news, CEO Eric Sills sold 1,358 shares of the business’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $49.11, for a total value of $66,691.38. Following the sale, the chief executive officer now directly owns 170,932 shares in the company, valued at $8,394,470.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Dale Burks sold 1,331 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $49.93, for a total value of $66,456.83. Following the completion of the sale, the executive vice president now owns 45,016 shares in the company, valued at $2,247,648.88. The disclosure for this sale can be found here. Insiders sold 100,062 shares of company stock worth $5,026,542 over the last 90 days. Company insiders own 6.60% of the company’s stock.
About Standard Motor Products
Standard Motor Products, Inc manufactures and distributes replacement parts for motor vehicles in the automotive aftermarket industry. The company operates in two segments, Engine Management and Temperature Control. The Engine Management segment offers electronic ignition control modules, new and remanufactured fuel injectors, ignition wires, coils, switches, relays, EGR valves, distributor caps and rotors, sensors, electronic throttle bodies, keyless entry transmitters, safety-related components, and other engine management components.
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