Nuveen LLC Invests $1.96 Million 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 purchased a new stake in Standard Motor Products, Inc. (NYSE:SMP - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 78,786 shares of the auto parts company's stock, valued at approximately $1,964,000. Nuveen LLC owned about 0.36% of Standard Motor Products as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of SMP. Aquatic Capital Management LLC purchased a new stake in shares of Standard Motor Products in the fourth quarter worth about $30,000. PNC Financial Services Group Inc. lifted its stake in shares of Standard Motor Products by 188.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,295 shares of the auto parts company's stock valued at $57,000 after purchasing an additional 1,499 shares during the period. Central Pacific Bank Trust Division increased its holdings in Standard Motor Products by 68.0% in the first quarter. Central Pacific Bank Trust Division now owns 4,200 shares of the auto parts company's stock valued at $105,000 after buying an additional 1,700 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of Standard Motor Products in the first quarter worth about $110,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Standard Motor Products during the 1st quarter worth about $225,000. Hedge funds and other institutional investors own 81.26% of the company's stock.

Standard Motor Products Trading Down 0.4%

Shares of SMP stock opened at $38.75 on Friday. The stock's fifty day moving average is $34.37 and its two-hundred day moving average is $29.88. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 2.16. The firm has a market capitalization of $852.16 million, a P/E ratio of 22.02 and a beta of 0.63. Standard Motor Products, Inc. has a fifty-two week low of $21.38 and a fifty-two week high of $40.18.

Standard Motor Products (NYSE:SMP - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The auto parts company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.32. The company had revenue of $493.85 million during the quarter, compared to analysts' expectations 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 was up 26.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.98 EPS. Research analysts expect that Standard Motor Products, Inc. will post 3.08 earnings per share for the current fiscal year.

Standard Motor Products Dividend Announcement

The business also recently announced 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. This represents a $1.24 annualized dividend and a yield of 3.2%. The ex-dividend date is Friday, August 15th. Standard Motor Products's dividend payout ratio is presently 70.45%.

Analysts Set New Price Targets

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.