Algert Global LLC Buys 37,991 Shares of 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 raised its holdings in shares of Standard Motor Products, Inc. (NYSE:SMP - Free Report) by 46.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 119,454 shares of the auto parts company's stock after acquiring an additional 37,991 shares during the period. Algert Global LLC owned approximately 0.54% of Standard Motor Products worth $2,978,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SMP. American Century Companies Inc. boosted its stake in Standard Motor Products by 8.2% in the 1st quarter. American Century Companies Inc. now owns 538,266 shares of the auto parts company's stock worth $13,419,000 after purchasing an additional 41,008 shares during the period. Russell Investments Group Ltd. lifted its stake in Standard Motor Products by 301.3% in the 1st quarter. Russell Investments Group Ltd. now owns 24,827 shares of the auto parts company's stock valued at $619,000 after purchasing an additional 18,640 shares during the last quarter. Public Sector Pension Investment Board lifted its stake in Standard Motor Products by 26.7% in the 1st quarter. Public Sector Pension Investment Board now owns 65,424 shares of the auto parts company's stock valued at $1,631,000 after purchasing an additional 13,798 shares during the last quarter. Nuveen LLC acquired a new stake in Standard Motor Products in the 1st quarter valued at about $1,964,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Standard Motor Products by 3.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 255,278 shares of the auto parts company's stock worth $6,364,000 after acquiring an additional 8,987 shares during the last quarter. Institutional investors and hedge funds own 81.26% of the company's stock.

Analyst Upgrades and Downgrades

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

Standard Motor Products Price Performance

NYSE:SMP traded up $1.29 during mid-day trading on Friday, reaching $38.74. The stock had a trading volume of 200,025 shares, compared to its average volume of 233,426. The stock has a 50-day simple moving average of $33.54 and a two-hundred day simple moving average of $29.60. The stock has a market capitalization of $851.89 million, a PE ratio of 22.01 and a beta of 0.63. 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, Inc. has a 12 month low of $21.38 and a 12 month high of $40.18.

Standard Motor Products (NYSE:SMP - Get Free Report) last posted its earnings results on Tuesday, August 5th. The auto parts company reported $1.29 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $493.85 million for the quarter, compared to analysts' expectations of $450.21 million. During the same quarter in the previous year, the firm posted $0.98 earnings per share. The company's revenue was up 26.7% on a year-over-year basis. On average, equities analysts anticipate that Standard Motor Products, Inc. will post 3.08 earnings per share for the current year.

Standard Motor Products Announces Dividend

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