Charles Schwab Investment Management Inc. Boosts Position in Standard Motor Products, Inc. $SMP

Key Points

• Charles Schwab Investment Management Inc. increased its holdings in Standard Motor Products by 3.6%, bringing its total shares to 255,278, valued at approximately $6.36 million.
• Standard Motor Products reported a quarterly earnings per share of $1.29, exceeding analysts' expectations, and experienced a revenue increase of 26.7% year-over-year.
• The company declared a quarterly dividend of $0.31 per share with a yield of 3.2%, set to be paid on September 2nd.

Charles Schwab Investment Management Inc. increased its holdings in shares of Standard Motor Products, Inc. (NYSE:SMP - Free Report) by 3.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 255,278 shares of the auto parts company's stock after purchasing an additional 8,987 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.16% of Standard Motor Products worth $6,364,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in SMP. Aquatic Capital Management LLC purchased a new stake in Standard Motor Products during the fourth quarter worth approximately $30,000. PNC Financial Services Group Inc. lifted its stake in Standard Motor Products by 188.3% during the first quarter. PNC Financial Services Group Inc. now owns 2,295 shares of the auto parts company's stock worth $57,000 after purchasing an additional 1,499 shares during the last quarter. Central Pacific Bank Trust Division boosted its position 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 purchasing an additional 1,700 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in shares of Standard Motor Products in the 1st quarter valued at about $110,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Standard Motor Products in the 1st quarter valued at about $225,000. Hedge funds and other institutional investors own 81.26% of the company's stock.

Standard Motor Products Stock Up 0.6%

Shares of NYSE SMP opened at $38.70 on Wednesday. The stock has a market cap of $850.95 million, a PE ratio of 21.99 and a beta of 0.63. 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, Inc. has a 52-week low of $21.38 and a 52-week high of $40.18. The business has a 50-day moving average price of $33.87 and a 200 day moving average price of $29.71.

Standard Motor Products (NYSE:SMP - Get Free Report) last posted its quarterly earnings data 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 return on equity of 12.98% and a net margin of 2.39%.The company had revenue of $493.85 million during the quarter, compared to analysts' expectations of $450.21 million. During the same period last year, the firm earned $0.98 EPS. The firm's revenue for the quarter was up 26.7% on a year-over-year basis. Equities research analysts forecast that Standard Motor Products, Inc. will post 3.08 earnings per share for the current year.

Standard Motor Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Friday, August 15th. Standard Motor Products's dividend payout ratio (DPR) is presently 70.45%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Standard Motor Products from a "buy" rating to a "strong-buy" rating in a research report 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.

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