GAMMA Investing LLC Buys 25,467 Shares of Standard Motor Products, Inc. (NYSE:SMP)

GAMMA Investing LLC boosted its holdings in shares of Standard Motor Products, Inc. (NYSE:SMP - Free Report) by 2,880.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 26,351 shares of the auto parts company's stock after buying an additional 25,467 shares during the period. GAMMA Investing LLC owned approximately 0.12% of Standard Motor Products worth $657,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in SMP. Vanguard Group Inc. lifted its stake in Standard Motor Products by 4.3% during the fourth quarter. Vanguard Group Inc. now owns 1,655,886 shares of the auto parts company's stock worth $51,299,000 after purchasing an additional 69,000 shares during the last quarter. William Blair Investment Management LLC increased its holdings in Standard Motor Products by 2.1% during the 4th quarter. William Blair Investment Management LLC now owns 929,813 shares of the auto parts company's stock valued at $28,806,000 after purchasing an additional 19,180 shares during the period. Gamco Investors INC. ET AL grew its holdings in shares of Standard Motor Products by 4.7% during the 4th quarter. Gamco Investors INC. ET AL now owns 717,457 shares of the auto parts company's stock worth $22,227,000 after acquiring an additional 32,197 shares during the period. American Century Companies Inc. grew its holdings in shares of Standard Motor Products by 21.1% during the 4th quarter. American Century Companies Inc. now owns 497,258 shares of the auto parts company's stock worth $15,405,000 after acquiring an additional 86,640 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Standard Motor Products by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 494,489 shares of the auto parts company's stock worth $15,323,000 after acquiring an additional 9,190 shares during the period. Institutional investors own 81.26% of the company's stock.

Standard Motor Products Stock Down 1.0%

SMP stock traded down $0.32 during midday trading on Friday, hitting $30.33. The company's stock had a trading volume of 313,762 shares, compared to its average volume of 163,846. The company has a market cap of $666.54 million, a PE ratio of 21.66 and a beta of 0.65. Standard Motor Products, Inc. has a 12 month low of $21.38 and a 12 month high of $35.92. The company has a current ratio of 2.32, a quick ratio of 0.86 and a debt-to-equity ratio of 0.96. The firm's 50-day moving average is $28.11 and its 200-day moving average is $28.83.

Standard Motor Products (NYSE:SMP - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The auto parts company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.37. The firm had revenue of $413.38 million for the quarter, compared to analysts' expectations of $394.38 million. Standard Motor Products had a return on equity of 12.12% and a net margin of 2.02%. The company's revenue was up 24.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.45 EPS. On average, equities research analysts forecast that Standard Motor Products, Inc. will post 3.08 earnings per share for the current fiscal year.

Standard Motor Products Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 4.09%. This is a positive change from Standard Motor Products's previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Thursday, May 15th. Standard Motor Products's dividend payout ratio is 88.57%.

Analysts Set New Price Targets

Separately, Wall Street Zen cut Standard Motor Products from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 3rd.

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.