Delphi Management Inc. MA Buys 28,944 Shares of Standard Motor Products, Inc. $SMP

Key Points

• Delphi Management boosted its stake in Standard Motor Products (NYSE:SMP) by 506.3%, buying 28,944 shares to hold 34,661 shares (about 0.16% of the company) valued at ~$1.28 million at quarter end.
• Standard Motor Products beat Q4 EPS estimates ($0.56 vs. $0.45) and raised its quarterly dividend to $0.33 ($1.32 annualized), implying a 3.7% yield and a 71.35% payout ratio.
• Institutional investors own ~81.3% of the stock; analysts have a consensus "Moderate Buy" rating with an average price target of $49, while the company trades at a market cap of ~$783.5M and a P/E of 19.12.

Delphi Management Inc. MA boosted its stake in shares of Standard Motor Products, Inc. (NYSE:SMP - Free Report) by 506.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,661 shares of the auto parts company's stock after buying an additional 28,944 shares during the period. Delphi Management Inc. MA owned approximately 0.16% of Standard Motor Products worth $1,277,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its position in Standard Motor Products by 235.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,298 shares of the auto parts company's stock valued at $71,000 after buying an additional 1,613 shares in the last quarter. iSAM Funds UK Ltd bought a new position in Standard Motor Products during the 3rd quarter valued at approximately $99,000. Quantbot Technologies LP bought a new position in Standard Motor Products during the 3rd quarter valued at approximately $108,000. Zacks Investment Management bought a new position in Standard Motor Products during the 3rd quarter valued at approximately $202,000. Finally, Cambria Investment Management L.P. bought a new position in Standard Motor Products during the 3rd quarter valued at approximately $213,000. Institutional investors own 81.26% of the company's stock.

Standard Motor Products Stock Down 0.5%

Standard Motor Products stock opened at $35.38 on Tuesday. The firm has a market cap of $783.50 million, a price-to-earnings ratio of 19.12 and a beta of 0.80. The stock has a fifty day simple moving average of $39.48 and a two-hundred day simple moving average of $38.90. Standard Motor Products, Inc. has a 12 month low of $21.38 and a 12 month high of $46.00. The company has a current ratio of 2.13, a quick ratio of 0.69 and a debt-to-equity ratio of 0.81.

Standard Motor Products (NYSE:SMP - Get Free Report) last posted its earnings results on Thursday, February 26th. The auto parts company reported $0.56 EPS for the quarter, topping analysts' consensus estimates of $0.45 by $0.11. The business had revenue of $385.09 million during the quarter, compared to analyst estimates of $385.91 million. Standard Motor Products had a return on equity of 13.15% and a net margin of 2.31%. Equities analysts predict that Standard Motor Products, Inc. will post 3.08 EPS for the current fiscal year.

Standard Motor Products Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Monday, February 16th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Friday, February 13th. This is a positive change from Standard Motor Products's previous quarterly dividend of $0.31. Standard Motor Products's dividend payout ratio is 71.35%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Weiss Ratings raised Standard Motor Products from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, March 16th. Zacks Research lowered Standard Motor Products from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 1st. Finally, Wall Street Zen lowered Standard Motor Products from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 7th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $49.00.

Standard Motor Products Company 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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