Deutsche Bank AG Sells 28,423 Shares of 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 decreased its holdings in shares of Standard Motor Products, Inc. (NYSE:SMP - Free Report) by 58.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Royce & Associates LP increased its holdings in shares of Standard Motor Products by 2.1% in the first quarter. Royce & Associates LP now owns 1,309,714 shares of the auto parts company's stock worth $32,651,000 after purchasing an additional 26,712 shares during the period. Northern Trust Corp increased its holdings in shares of Standard Motor Products by 3.8% in the fourth quarter. Northern Trust Corp now owns 334,037 shares of the auto parts company's stock worth $10,348,000 after purchasing an additional 12,379 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Standard Motor Products by 3.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 255,278 shares of the auto parts company's stock worth $6,364,000 after purchasing an additional 8,987 shares during the period. Bridgeway Capital Management LLC increased its holdings in shares of Standard Motor Products by 2.9% in the fourth quarter. Bridgeway Capital Management LLC now owns 192,284 shares of the auto parts company's stock worth $5,957,000 after purchasing an additional 5,341 shares during the period. Finally, Rhumbline Advisers increased its holdings in shares of 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. Institutional investors own 81.26% of the company's stock.

Standard Motor Products Trading Up 1.8%

Shares of NYSE:SMP traded up $0.71 on Tuesday, reaching $39.52. 167,546 shares of the company traded hands, compared to its average volume of 214,131. The business's 50-day simple moving average is $34.71 and its 200 day simple moving average is $30.00. Standard Motor Products, Inc. has a 52 week low of $21.38 and a 52 week high of $40.18. The stock has a market capitalization of $869.04 million, a P/E ratio of 22.45 and a beta of 0.66. The company has a current ratio of 2.16, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86.

Standard Motor Products (NYSE:SMP - Get Free Report) last posted its earnings results 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. The company had revenue of $493.85 million during the quarter, compared to analyst estimates of $450.21 million. Standard Motor Products had a net margin of 2.39% and a return on equity of 12.98%. Standard Motor Products's revenue for the quarter was up 26.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.98 earnings per share. As a group, equities analysts anticipate that Standard Motor Products, Inc. will post 3.08 EPS for the current fiscal year.

Standard Motor Products Announces Dividend

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 issued a $0.31 dividend. 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 dividend payout ratio (DPR) is 70.45%.

Wall Street Analyst Weigh In

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

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.