Deutsche Bank AG Has $495,000 Stock Holdings in Standard Motor Products, Inc. $SMP

Key Points

• Deutsche Bank AG reduced its stake in Standard Motor Products by 58.9%, holding about $495,000 worth of shares after selling more than 28,000 during the first quarter.
• Analysts upgraded Standard Motor Products from a "buy" to a "strong-buy" rating, reflecting increased optimism for the company's performance.
• Standard Motor Products reported a revenue increase of 26.7% year-over-year, exceeding expectations with earnings per share of $1.29, significantly above the consensus estimate.

Deutsche Bank AG trimmed its stake in Standard Motor Products, Inc. (NYSE:SMP - Free Report) by 58.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,870 shares of the auto parts company's stock after selling 28,423 shares during the quarter. Deutsche Bank AG owned about 0.09% of Standard Motor Products worth $495,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Assenagon Asset Management S.A. acquired a new stake in Standard Motor Products in the first quarter worth $996,000. North Star Investment Management Corp. acquired a new stake in Standard Motor Products in the first quarter worth $823,000. Rhumbline Advisers grew its holdings in Standard Motor Products by 8.4% in the first quarter. Rhumbline Advisers now owns 128,896 shares of the auto parts company's stock worth $3,213,000 after purchasing an additional 9,979 shares during the period. SG Americas Securities LLC grew its holdings in Standard Motor Products by 144.8% in the first quarter. SG Americas Securities LLC now owns 25,604 shares of the auto parts company's stock worth $638,000 after purchasing an additional 15,146 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Standard Motor Products by 2,880.9% in the first quarter. GAMMA Investing LLC now owns 26,351 shares of the auto parts company's stock worth $657,000 after purchasing an additional 25,467 shares during the period. 81.26% of the stock is currently owned by institutional investors and hedge funds.

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 report on Saturday, July 26th.

Standard Motor Products Stock Up 2.0%

Standard Motor Products stock opened at $39.45 on Thursday. Standard Motor Products, Inc. has a fifty-two week low of $21.38 and a fifty-two week high of $40.18. The stock has a market cap of $867.51 million, a PE ratio of 22.41 and a beta of 0.63. The firm's 50-day simple moving average is $34.04 and its 200 day simple moving average is $29.78. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 2.16.

Standard Motor Products (NYSE:SMP - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The auto parts company reported $1.29 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $450.21 million. During the same period in the previous year, the company earned $0.98 earnings per share. The firm's revenue for the quarter was up 26.7% compared to the same quarter last year. Research analysts predict that Standard Motor Products, Inc. will post 3.08 EPS for the current fiscal year.

Standard Motor Products Dividend Announcement

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

Standard Motor Products Company 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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