Nuveen LLC Acquires New Position in Standard Motor Products, Inc. $SMP

Key Points

• Nuveen LLC invested approximately $1.96 million in Standard Motor Products, acquiring 78,786 shares during the first quarter, bringing its total ownership to about 0.36% of the company.
• Standard Motor Products reported an earnings per share (EPS) of $1.29 for the last quarter, significantly exceeding analysts' estimates of $0.97, with a 26.7% year-over-year revenue increase.
• The company announced a quarterly dividend of $0.31, providing an annualized yield of 3.2%, with the ex-dividend date set for August 15th.

Nuveen LLC bought a new position in shares of Standard Motor Products, Inc. (NYSE:SMP - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 78,786 shares of the auto parts company's stock, valued at approximately $1,964,000. Nuveen LLC owned approximately 0.36% of Standard Motor Products as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. SummerHaven Investment Management LLC raised its holdings in Standard Motor Products by 1.6% in the 1st quarter. SummerHaven Investment Management LLC now owns 29,228 shares of the auto parts company's stock worth $729,000 after purchasing an additional 463 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Standard Motor Products by 4.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,900 shares of the auto parts company's stock valued at $369,000 after buying an additional 469 shares in the last quarter. Barclays PLC raised its stake in shares of Standard Motor Products by 1.2% during the 4th quarter. Barclays PLC now owns 49,118 shares of the auto parts company's stock worth $1,521,000 after buying an additional 596 shares during the period. Aquatic Capital Management LLC purchased a new position in shares of Standard Motor Products during the 4th quarter valued at approximately $30,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Standard Motor Products by 3.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 45,660 shares of the auto parts company's stock valued at $1,415,000 after acquiring an additional 1,388 shares during the period. Hedge funds and other institutional investors own 81.26% of the company's stock.

Wall Street Analysts Forecast Growth

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

Standard Motor Products Price Performance

NYSE SMP traded up $0.65 during trading hours on Thursday, hitting $39.90. 147,225 shares of the company's stock traded hands, compared to its average volume of 194,720. The company has a market capitalization of $877.40 million, a PE ratio of 22.67 and a beta of 0.66. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.16 and a quick ratio of 0.87. Standard Motor Products, Inc. has a 52-week low of $21.38 and a 52-week high of $40.18. The firm's 50-day moving average is $35.09 and its 200-day moving average is $30.12.

Standard Motor Products (NYSE:SMP - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The auto parts company reported $1.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.97 by $0.32. The business had revenue of $493.85 million during the quarter, compared to analyst estimates of $450.21 million. Standard Motor Products had a return on equity of 12.98% and a net margin of 2.39%.The business's revenue was up 26.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.98 earnings per share. Equities analysts forecast that Standard Motor Products, Inc. will post 3.08 EPS for the current fiscal year.

Standard Motor Products Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th were paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Friday, August 15th. Standard Motor Products's dividend payout ratio (DPR) is 70.45%.

About Standard Motor Products

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.