AlphaQuest LLC Buys Shares of 24,968 Standard Motor Products, Inc. $SMP

Key Points

• AlphaQuest LLC acquired 24,968 shares of Standard Motor Products, Inc. for approximately $622,000, now holding about 0.11% of the company.
• The company recently reported a Q2 EPS of $1.29, exceeding estimates, with a 26.7% increase in revenue year-over-year.
• Standard Motor Products announced a quarterly dividend of $0.31, providing an annualized yield of 3.2% for shareholders.

AlphaQuest LLC purchased a new position in Standard Motor Products, Inc. (NYSE:SMP - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 24,968 shares of the auto parts company's stock, valued at approximately $622,000. AlphaQuest LLC owned about 0.11% of Standard Motor Products as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in SMP. Aquatic Capital Management LLC acquired a new position in Standard Motor Products in the fourth quarter worth approximately $30,000. PNC Financial Services Group Inc. grew its position in Standard Motor Products by 188.3% in the first quarter. PNC Financial Services Group Inc. now owns 2,295 shares of the auto parts company's stock worth $57,000 after buying an additional 1,499 shares during the last quarter. Central Pacific Bank Trust Division grew its position in Standard Motor Products by 68.0% in the first quarter. Central Pacific Bank Trust Division now owns 4,200 shares of the auto parts company's stock worth $105,000 after buying an additional 1,700 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in Standard Motor Products in the first quarter worth approximately $110,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in Standard Motor Products in the first quarter worth approximately $225,000. Institutional investors and hedge funds own 81.26% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Standard Motor Products from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 26th.

Standard Motor Products Trading Down 0.4%

NYSE SMP traded down $0.15 on Friday, hitting $38.75. 139,924 shares of the stock were exchanged, compared to its average volume of 176,102. The company's 50-day moving average price is $34.20 and its two-hundred day moving average price is $29.83. The company has a market capitalization of $852.16 million, a price-to-earnings ratio of 22.02 and a beta of 0.63. Standard Motor Products, Inc. has a 52-week low of $21.38 and a 52-week high of $40.18. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.16 and a quick ratio of 0.87.

Standard Motor Products (NYSE:SMP - Get Free Report) last issued its earnings results on Tuesday, August 5th. The auto parts company reported $1.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.97 by $0.32. The company had revenue of $493.85 million during the quarter, compared to analyst estimates of $450.21 million. Standard Motor Products had a net margin of 2.39% and a return on equity of 12.98%. The company's revenue for the quarter was up 26.7% on a year-over-year basis. During the same quarter last year, the business posted $0.98 EPS. Research analysts predict that Standard Motor Products, Inc. will post 3.08 EPS for the current year.

Standard Motor Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.2%. Standard Motor Products's dividend payout ratio (DPR) is 70.45%.

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.