Algert Global LLC Grows Stake in Standard Motor Products, Inc. $SMP

Key Points

• Algert Global LLC increased its stake in Standard Motor Products, Inc. by 46.6%, holding 119,454 shares worth approximately $2.98 million at the end of the first quarter.
• Standard Motor Products recently reported a significant earnings performance, with $1.29 earnings per share for the quarter, well above analysts' expectations of $0.97.
• The company declared a quarterly dividend of $0.31 per share, with an annualized yield of 3.3%, set to be paid on September 2nd.

Algert Global LLC lifted its stake in shares of Standard Motor Products, Inc. (NYSE:SMP - Free Report) by 46.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,454 shares of the auto parts company's stock after purchasing an additional 37,991 shares during the quarter. Algert Global LLC owned about 0.54% of Standard Motor Products worth $2,978,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SMP. JPMorgan Chase & Co. boosted its position in shares of Standard Motor Products by 37.1% during the 4th quarter. JPMorgan Chase & Co. now owns 59,086 shares of the auto parts company's stock worth $1,830,000 after purchasing an additional 15,979 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Standard Motor Products by 26.9% during the 4th quarter. Wells Fargo & Company MN now owns 12,805 shares of the auto parts company's stock worth $397,000 after purchasing an additional 2,715 shares in the last quarter. Invesco Ltd. boosted its position in shares of Standard Motor Products by 32.5% during the 4th quarter. Invesco Ltd. now owns 189,589 shares of the auto parts company's stock worth $5,873,000 after purchasing an additional 46,482 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Standard Motor Products by 5.4% during the 4th quarter. Legal & General Group Plc now owns 55,668 shares of the auto parts company's stock worth $1,725,000 after purchasing an additional 2,843 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Standard Motor Products during the fourth quarter worth about $2,710,000. Institutional investors own 81.26% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen raised 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 Stock Up 0.6%

Standard Motor Products stock traded up $0.22 during midday trading on Tuesday, hitting $38.70. 136,802 shares of the stock were exchanged, compared to its average volume of 238,580. Standard Motor Products, Inc. has a 52-week low of $21.38 and a 52-week high of $40.18. The stock has a market capitalization of $850.95 million, a price-to-earnings ratio of 21.99 and a beta of 0.63. The business's 50-day moving average price is $33.87 and its 200-day moving average price is $29.71. The company has a quick ratio of 0.87, a current ratio of 2.16 and a debt-to-equity ratio of 0.86.

Standard Motor Products (NYSE:SMP - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The auto parts company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.32. Standard Motor Products had a net margin of 2.39% and a return on equity of 12.98%. The business had revenue of $493.85 million for the quarter, compared to analysts' expectations of $450.21 million. During the same period in the previous year, the company earned $0.98 earnings per share. The firm's revenue for the quarter was up 26.7% compared to the same quarter last year. On average, research analysts expect that Standard Motor Products, Inc. will post 3.08 EPS for the current fiscal year.

Standard Motor Products Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 15th will be issued a dividend of $0.31 per share. The ex-dividend date is Friday, August 15th. This represents a $1.24 annualized dividend and a yield of 3.2%. Standard Motor Products's payout ratio 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.