Rhumbline Advisers Has $3.21 Million Position in Standard Motor Products, Inc. (NYSE:SMP)

Rhumbline Advisers grew its stake in shares of Standard Motor Products, Inc. (NYSE:SMP - Free Report) by 8.4% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 128,896 shares of the auto parts company's stock after acquiring an additional 9,979 shares during the quarter. Rhumbline Advisers owned about 0.59% of Standard Motor Products worth $3,213,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of SMP. Proficio Capital Partners LLC bought a new stake in shares of Standard Motor Products during the 4th quarter worth $753,000. Foundry Partners LLC lifted its position in shares of Standard Motor Products by 22.4% during the 4th quarter. Foundry Partners LLC now owns 202,152 shares of the auto parts company's stock worth $6,263,000 after buying an additional 36,947 shares during the last quarter. Versor Investments LP bought a new stake in shares of Standard Motor Products during the 4th quarter worth $480,000. Deutsche Bank AG lifted its position in shares of Standard Motor Products by 270.1% during the 4th quarter. Deutsche Bank AG now owns 48,293 shares of the auto parts company's stock worth $1,496,000 after buying an additional 35,245 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Standard Motor Products by 143.6% during the 4th quarter. BNP Paribas Financial Markets now owns 48,032 shares of the auto parts company's stock worth $1,488,000 after buying an additional 28,311 shares during the last quarter. 81.26% of the stock is currently owned by institutional investors.

Standard Motor Products Price Performance

Shares of SMP stock traded up $0.60 on Wednesday, hitting $30.68. 223,519 shares of the company's stock were exchanged, compared to its average volume of 168,288. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.32 and a quick ratio of 0.86. Standard Motor Products, Inc. has a 12 month low of $21.38 and a 12 month high of $35.92. The stock has a market cap of $674.24 million, a P/E ratio of 21.91 and a beta of 0.65. The company has a 50 day moving average of $27.77 and a 200 day moving average of $28.94.

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

Standard Motor Products Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend was Thursday, May 15th. This is a boost from Standard Motor Products's previous quarterly dividend of $0.29. Standard Motor Products's dividend payout ratio is presently 88.57%.

Analyst Upgrades and Downgrades

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

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.