9,019 Shares in Standard Motor Products, Inc. (NYSE:SMP) Acquired by Y Intercept Hong Kong Ltd

Key Points

• Y Intercept Hong Kong Ltd acquired 9,019 shares of Standard Motor Products, valued at approximately $225,000, marking their entry into the company's stock this first quarter.
• Standard Motor Products reported a 24.7% year-over-year increase in revenue, reaching $413.38 million and surpassing analysts' expectations for the quarter.
• Wall Street Zen upgraded Standard Motor Products from a "buy" rating to a "strong-buy" rating, reflecting growing optimism about the company's future performance.

Y Intercept Hong Kong Ltd acquired a new stake in shares of Standard Motor Products, Inc. (NYSE:SMP - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 9,019 shares of the auto parts company's stock, valued at approximately $225,000.

Other large investors also recently added to or reduced their stakes in the company. Aquatic Capital Management LLC bought a new stake in Standard Motor Products during the fourth quarter worth about $30,000. Central Pacific Bank Trust Division lifted its stake in shares of Standard Motor Products by 68.0% in the 1st quarter. Central Pacific Bank Trust Division now owns 4,200 shares of the auto parts company's stock valued at $105,000 after acquiring an additional 1,700 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in shares of Standard Motor Products in the 1st quarter valued at about $110,000. Polymer Capital Management US LLC bought a new stake in shares of Standard Motor Products in the 4th quarter valued at about $239,000. Finally, Probity Advisors Inc. lifted its stake in shares of Standard Motor Products by 17.7% in the 4th quarter. Probity Advisors Inc. now owns 10,671 shares of the auto parts company's stock valued at $331,000 after acquiring an additional 1,603 shares during the last quarter. Institutional investors own 81.26% of the company's stock.

Standard Motor Products Trading Up 0.4%

SMP traded up $0.11 during midday trading on Friday, reaching $30.47. 223,410 shares of the company's stock traded hands, compared to its average volume of 154,572. The firm has a fifty day moving average of $31.30 and a two-hundred day moving average of $28.97. The stock has a market capitalization of $669.73 million, a price-to-earnings ratio of 21.76 and a beta of 0.63. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.32 and a quick ratio of 0.86. Standard Motor Products, Inc. has a 52 week low of $21.38 and a 52 week high of $35.92.

Standard Motor Products (NYSE:SMP - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The auto parts company reported $0.81 EPS for the quarter, beating analysts' consensus estimates of $0.44 by $0.37. The business had revenue of $413.38 million during the quarter, compared to analyst estimates of $394.38 million. Standard Motor Products had a return on equity of 12.12% and a net margin of 2.02%. Standard Motor Products's quarterly revenue was up 24.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.45 EPS. On average, equities analysts anticipate that Standard Motor Products, Inc. will post 3.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.