Russell Investments Group Ltd. Has $619,000 Stake in Standard Motor Products, Inc. $SMP

Key Points

• Russell Investments Group Ltd. increased its stake in Standard Motor Products, Inc. by 301.3% during the first quarter, holding approximately 0.11% of the company's stock valued at $619,000.
• Standard Motor Products reported a strong quarterly performance with an earnings per share (EPS) of $1.29, exceeding expectations by $0.32, and a revenue surge of 26.7% year-over-year.
• The company announced a quarterly dividend of $0.31 per share, translating to an annualized yield of 3.2%, with a dividend payout ratio of 70.45%.

Russell Investments Group Ltd. boosted its position in Standard Motor Products, Inc. (NYSE:SMP - Free Report) by 301.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,827 shares of the auto parts company's stock after purchasing an additional 18,640 shares during the period. Russell Investments Group Ltd. owned approximately 0.11% of Standard Motor Products worth $619,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. acquired a new stake in shares of Standard Motor Products during the 1st quarter valued at $996,000. North Star Investment Management Corp. acquired a new stake in shares of Standard Motor Products during the 1st quarter valued at $823,000. Rhumbline Advisers lifted its position in shares of Standard Motor Products by 8.4% during the 1st quarter. Rhumbline Advisers now owns 128,896 shares of the auto parts company's stock valued at $3,213,000 after acquiring an additional 9,979 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Standard Motor Products by 144.8% during the 1st quarter. SG Americas Securities LLC now owns 25,604 shares of the auto parts company's stock valued at $638,000 after acquiring an additional 15,146 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Standard Motor Products by 2,880.9% during the 1st quarter. GAMMA Investing LLC now owns 26,351 shares of the auto parts company's stock valued at $657,000 after acquiring an additional 25,467 shares during the last quarter. 81.26% of the stock is currently owned by institutional investors and hedge funds.

Standard Motor Products Stock Down 0.4%

Shares of NYSE SMP traded down $0.15 during mid-day trading on Monday, reaching $38.75. The company had a trading volume of 139,924 shares, compared to its average volume of 224,199. Standard Motor Products, Inc. has a twelve month low of $21.38 and a twelve month high of $40.18. 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 stock has a market capitalization of $852.16 million, a PE ratio of 22.02 and a beta of 0.66. The stock's 50 day moving average is $34.53 and its 200-day moving average is $29.93.

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 for the quarter, topping analysts' consensus estimates of $0.97 by $0.32. Standard Motor Products had a net margin of 2.39% and a return on equity of 12.98%. The business had revenue of $493.85 million for the quarter, compared to the consensus estimate of $450.21 million. During the same period in the prior year, the business posted $0.98 earnings per share. Standard Motor Products's revenue for the quarter was up 26.7% compared to the same quarter last year. As a group, equities analysts anticipate that Standard Motor Products, Inc. will post 3.08 earnings per share for the current fiscal year.

Standard Motor Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Friday, August 15th. Standard Motor Products's dividend payout ratio is presently 70.45%.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Standard Motor Products from a "buy" rating to a "strong-buy" rating in a research note 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.