Allianz Asset Management GmbH Makes New $5.87 Million Investment in Standard Motor Products, Inc. $SMP

Allianz Asset Management GmbH purchased a new stake in Standard Motor Products, Inc. (NYSE:SMP - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 150,613 shares of the auto parts company's stock, valued at approximately $5,869,000. Allianz Asset Management GmbH owned approximately 0.67% of Standard Motor Products at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in SMP. BlackRock Inc. bought a new position in Standard Motor Products in the second quarter worth approximately $158,258,000. California State Teachers Retirement System grew its position in Standard Motor Products by 4,157.0% in the 2nd quarter. California State Teachers Retirement System now owns 805,510 shares of the auto parts company's stock valued at $31,391,000 after purchasing an additional 786,588 shares during the period. Bank of New York Mellon Corp bought a new stake in Standard Motor Products during the 2nd quarter valued at $10,882,000. Congruence Capital LLC bought a new stake in Standard Motor Products during the 4th quarter valued at $6,571,000. Finally, SG Americas Securities LLC raised its holdings in Standard Motor Products by 207.8% during the first quarter. SG Americas Securities LLC now owns 259,180 shares of the auto parts company's stock worth $9,004,000 after buying an additional 174,986 shares during the last quarter. Institutional investors and hedge funds own 81.26% of the company's stock.

Insiders Place Their Bets

In other Standard Motor Products news, EVP Dale Burks sold 9,051 shares of Standard Motor Products stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $38.71, for a total value of $350,364.21. Following the sale, the executive vice president owned 56,955 shares of the company's stock, valued at approximately $2,204,728.05. The trade was a 13.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 18,349 shares of company stock worth $712,146 in the last three months. 5.50% of the stock is currently owned by corporate insiders.

Standard Motor Products Stock Performance

NYSE SMP opened at $39.56 on Wednesday. Standard Motor Products, Inc. has a 1 year low of $34.27 and a 1 year high of $46.00. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.00 and a quick ratio of 0.80. The firm has a market cap of $883.77 million, a price-to-earnings ratio of 17.66 and a beta of 0.82. The company has a fifty day moving average price of $38.65 and a 200-day moving average price of $38.33.

Standard Motor Products (NYSE:SMP - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The auto parts company reported $1.40 EPS for the quarter, beating analysts' consensus estimates of $1.39 by $0.01. The company had revenue of $526.72 million during the quarter, compared to the consensus estimate of $511.68 million. Standard Motor Products had a return on equity of 13.28% and a net margin of 2.78%.During the same period last year, the business posted $1.13 earnings per share. As a group, equities research analysts predict that Standard Motor Products, Inc. will post 4.23 EPS for the current fiscal year.

Standard Motor Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Friday, August 14th were given a dividend of $0.33 per share. The ex-dividend date was Friday, August 14th. This represents a $1.32 annualized dividend and a yield of 3.3%. Standard Motor Products's dividend payout ratio is presently 58.93%.

Analysts Set New Price Targets

SMP has been the topic of a number of recent research reports. Zacks Research lowered shares of Standard Motor Products from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 12th. Weiss Ratings raised shares of Standard Motor Products from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, July 28th. Finally, Wall Street Zen upgraded shares of Standard Motor Products from a "hold" rating to a "buy" rating in a report on Sunday, August 16th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $49.00.

Standard Motor Products Profile

Standard Motor Products, Inc, headquartered in Long Island City, New York, is a leading manufacturer and distributor of aftermarket and original equipment automotive parts. Since its founding in 1919, the company has focused on engineering, testing, and supplying ignition and temperature management products for passenger cars and light trucks. Its product lineup includes ignition coils, spark plug wires, sensors, switches, heating and air conditioning controls, and related electronic components.

The company operates through two primary segments: Engine Management and Temperature Control.

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