Dean Capital Management Buys 14,812 Shares of Standard Motor Products, Inc. $SMP

Key Points

• Dean Capital Management increased its stake in Standard Motor Products, purchasing an additional 14,812 shares, bringing its total to 67,537 shares, valued at approximately $1.68 million.
• Standard Motor Products was upgraded from a "buy" to a "strong-buy" rating by Wall Street Zen, indicating increased analyst confidence in the stock.
• The company reported strong quarterly earnings with an EPS of $1.29, surpassing analyst estimates by $0.32, alongside a 26.7% increase in revenue compared to the previous year.

Dean Capital Management lifted its position in Standard Motor Products, Inc. (NYSE:SMP - Free Report) by 28.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,537 shares of the auto parts company's stock after buying an additional 14,812 shares during the period. Dean Capital Management owned about 0.31% of Standard Motor Products worth $1,684,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. PNC Financial Services Group Inc. increased its position 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 buying an additional 1,499 shares in the last quarter. Central Pacific Bank Trust Division increased 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 buying an additional 1,700 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in shares of Standard Motor Products in the 1st quarter valued at $110,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Standard Motor Products in the 1st quarter valued at $214,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Standard Motor Products in the 1st quarter valued at $225,000. Institutional investors own 81.26% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded 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 Down 1.3%

SMP stock traded down $0.54 during trading hours on Friday, reaching $40.44. 102,501 shares of the stock were exchanged, compared to its average volume of 145,514. The firm's 50-day moving average is $36.03 and its 200-day moving average is $30.51. The company has a market cap of $889.28 million, a price-to-earnings ratio of 22.98 and a beta of 0.66. 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 $41.07.

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

Standard Motor Products Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Friday, August 15th. Standard Motor Products's dividend payout ratio is 70.45%.

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.