Inspire Investing LLC lowered its position in Standard Motor Products, Inc. (NYSE:SMP - Free Report) by 67.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 14,817 shares of the auto parts company's stock after selling 30,188 shares during the period. Inspire Investing LLC owned about 0.07% of Standard Motor Products worth $515,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Osaic Holdings Inc. increased its stake in Standard Motor Products by 6.2% in the 4th quarter. Osaic Holdings Inc. now owns 6,142 shares of the auto parts company's stock worth $226,000 after buying an additional 358 shares during the period. New York State Teachers Retirement System lifted its holdings in Standard Motor Products by 1.2% during the 4th quarter. New York State Teachers Retirement System now owns 32,443 shares of the auto parts company's stock valued at $1,196,000 after buying an additional 389 shares in the last quarter. LPL Financial LLC boosted its position in Standard Motor Products by 6.1% in the 4th quarter. LPL Financial LLC now owns 6,946 shares of the auto parts company's stock valued at $256,000 after buying an additional 397 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Standard Motor Products by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,446 shares of the auto parts company's stock valued at $310,000 after buying an additional 546 shares during the period. Finally, Pacific Ridge Capital Partners LLC grew its stake in Standard Motor Products by 4.7% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 14,794 shares of the auto parts company's stock worth $545,000 after acquiring an additional 660 shares in the last quarter. Hedge funds and other institutional investors own 81.26% of the company's stock.
Insider Transactions at Standard Motor Products
In related news, VP Ray Nicholas sold 5,822 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $39.75, for a total value of $231,424.50. Following the completion of the transaction, the vice president directly owned 35,327 shares of the company's stock, valued at $1,404,248.25. This trade represents a 14.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.00% of the stock is owned by corporate insiders.
Standard Motor Products Trading Up 0.2%
NYSE SMP opened at $38.01 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.78 and a current ratio of 2.23. The company has a market capitalization of $846.08 million, a price-to-earnings ratio of 18.63 and a beta of 0.81. The company's 50-day simple moving average is $38.68 and its two-hundred day simple moving average is $38.77. Standard Motor Products, Inc. has a one year low of $29.53 and a one year high of $46.00.
Standard Motor Products (NYSE:SMP - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The auto parts company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.09. The firm had revenue of $451.17 million during the quarter, compared to analysts' expectations of $429.07 million. Standard Motor Products had a net margin of 2.51% and a return on equity of 12.98%. Equities analysts forecast that Standard Motor Products, Inc. will post 4.4 EPS for the current fiscal year.
Standard Motor Products Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Friday, May 15th. Standard Motor Products's dividend payout ratio is currently 64.71%.
Analyst Ratings Changes
A number of brokerages have recently commented on SMP. Weiss Ratings lowered shares of Standard Motor Products from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, May 20th. Wall Street Zen cut Standard Motor Products from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 7th. Finally, Zacks Research downgraded Standard Motor Products from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 12th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $49.00.
Get Our Latest Stock Report on Standard Motor Products
Standard Motor Products Company Profile
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Free Report)
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.
See Also
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