Annis Gardner Whiting Capital Advisors LLC Buys 21,113 Shares of Standard Motor Products, Inc. (NYSE:SMP)

Key Points

• Annis Gardner Whiting Capital Advisors LLC increased its holdings in Standard Motor Products by 972.9%, acquiring an additional 21,113 shares, bringing its total to 23,283 shares valued at approximately $580,000.
• Standard Motor Products' stock has received a rating upgrade from Wall Street Zen, moving from a "buy" to a "strong-buy" rating.
• As of the latest report, institutional investors own 81.26% of Standard Motor Products, indicating a strong investment interest in the company.

Annis Gardner Whiting Capital Advisors LLC boosted its holdings in shares of Standard Motor Products, Inc. (NYSE:SMP - Free Report) by 972.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,283 shares of the auto parts company's stock after buying an additional 21,113 shares during the period. Annis Gardner Whiting Capital Advisors LLC owned about 0.11% of Standard Motor Products worth $580,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Aquatic Capital Management LLC acquired a new position in Standard Motor Products in the fourth quarter worth about $30,000. PNC Financial Services Group Inc. grew its stake in shares of Standard Motor Products by 188.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,295 shares of the auto parts company's stock valued at $57,000 after purchasing an additional 1,499 shares during the period. Central Pacific Bank Trust Division raised its holdings 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 worth $105,000 after buying an additional 1,700 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of Standard Motor Products during the 1st quarter worth approximately $110,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Standard Motor Products in the 1st quarter valued at $225,000. Institutional investors own 81.26% of the company's stock.

Standard Motor Products Price Performance

NYSE:SMP traded down $0.21 during mid-day trading on Thursday, reaching $36.40. 278,001 shares of the company were exchanged, compared to its average volume of 186,311. The company has a quick ratio of 0.86, a current ratio of 2.16 and a debt-to-equity ratio of 0.86. The stock has a market cap of $799.96 million, a PE ratio of 20.68 and a beta of 0.63. Standard Motor Products, Inc. has a 12 month low of $21.38 and a 12 month high of $36.86. The company has a fifty day moving average of $31.72 and a 200 day moving average of $29.09.

Standard Motor Products (NYSE:SMP - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The auto parts company reported $1.29 earnings per share for the quarter, beating 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 business had revenue of $493.85 million during the quarter, compared to analyst estimates of $450.21 million. During the same quarter last year, the business posted $0.98 earnings per share. Standard Motor Products's revenue for the quarter was up 26.7% compared to the same quarter last year. On average, research analysts anticipate that Standard Motor Products, Inc. will post 3.08 EPS for the current fiscal year.

Standard Motor Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.4%. Standard Motor Products's dividend payout ratio is 88.57%.

Analyst Upgrades and Downgrades

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

Standard Motor Products Profile

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.