Algert Global LLC Acquires New Shares in Standard Motor Products, Inc. (NYSE:SMP)

Algert Global LLC acquired a new position in shares of Standard Motor Products, Inc. (NYSE:SMP - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 81,463 shares of the auto parts company's stock, valued at approximately $2,524,000. Algert Global LLC owned 0.38% of Standard Motor Products as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of SMP. Barclays PLC boosted its position in Standard Motor Products by 359.9% during the 3rd quarter. Barclays PLC now owns 48,522 shares of the auto parts company's stock valued at $1,609,000 after purchasing an additional 37,971 shares during the period. Franklin Resources Inc. bought a new stake in Standard Motor Products in the 3rd quarter valued at about $3,876,000. Versant Capital Management Inc grew its position in Standard Motor Products by 147.2% in the 4th quarter. Versant Capital Management Inc now owns 1,031 shares of the auto parts company's stock worth $32,000 after purchasing an additional 614 shares during the last quarter. Inspire Investing LLC increased its stake in shares of Standard Motor Products by 3.1% in the fourth quarter. Inspire Investing LLC now owns 12,896 shares of the auto parts company's stock valued at $400,000 after purchasing an additional 383 shares during the period. Finally, Exchange Traded Concepts LLC raised its holdings in shares of Standard Motor Products by 5.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 9,421 shares of the auto parts company's stock valued at $292,000 after buying an additional 446 shares during the last quarter. Institutional investors own 81.26% of the company's stock.

Insider Buying and Selling

In related news, EVP Dale Burks sold 11,005 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $27.20, for a total value of $299,336.00. Following the completion of the transaction, the executive vice president now owns 56,860 shares in the company, valued at $1,546,592. This trade represents a 16.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 5.00% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com lowered Standard Motor Products from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 3rd.

Standard Motor Products Price Performance

Shares of Standard Motor Products stock traded up $0.16 on Friday, hitting $28.77. The company had a trading volume of 156,130 shares, compared to its average volume of 168,027. Standard Motor Products, Inc. has a 52 week low of $21.38 and a 52 week high of $35.92. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.25 and a quick ratio of 0.82. The company has a market cap of $632.39 million, a PE ratio of 17.76 and a beta of 0.62. The business has a 50-day simple moving average of $25.30 and a 200-day simple moving average of $29.46.

Standard Motor Products (NYSE:SMP - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The auto parts company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.37. Standard Motor Products had a return on equity of 10.42% and a net margin of 2.56%. The business had revenue of $413.38 million during the quarter, compared to analyst estimates of $394.38 million. During the same quarter in the prior year, the firm posted $0.45 earnings per share. The company's revenue was up 24.7% on a year-over-year basis. Research analysts expect that Standard Motor Products, Inc. will post 3.08 EPS for the current fiscal year.

Standard Motor Products Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th will be paid a $0.31 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.24 annualized dividend and a dividend yield of 4.31%. This is a boost from Standard Motor Products's previous quarterly dividend of $0.29. Standard Motor Products's payout ratio is currently 88.57%.

About Standard Motor Products

Standard Motor Products, Inc manufactures and distributes replacement automotive parts in the United States and internationally. The company operates through three segments: Vehicle Control, Temperature Control, and Engineered Solutions segments. The company provides components for the ignition, emissions, and fuel delivery systems, such as air injection and induction components, air management valves, regulators and solenoids, exhaust gas recirculation components, fuel injectors and related components, fuel valves, ignition coils, connectors and sockets, modules, pumps, relays and fuses, starting and charging system parts, and vapor and purge components.