SG Americas Securities LLC Acquires 75,339 Shares of Standard Motor Products, Inc. $SMP

Key Points

• SG Americas Securities LLC raised its stake in Standard Motor Products by 850.8% in Q4, buying an additional 75,339 shares to hold 84,194 shares (about 0.38% of the company) valued at roughly $3.10 million.
• Standard Motor Products beat quarterly EPS estimates ($0.56 vs. $0.45) while revenue came in roughly in line, and analysts expect about 3.08 EPS for the current year.
• The company increased its quarterly dividend to $0.33 (annualized $1.32) for a yield of ~3.7%, and institutional investors own about 81.3% of the stock.

SG Americas Securities LLC raised its holdings in shares of Standard Motor Products, Inc. (NYSE:SMP - Free Report) by 850.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,194 shares of the auto parts company's stock after purchasing an additional 75,339 shares during the quarter. SG Americas Securities LLC owned approximately 0.38% of Standard Motor Products worth $3,103,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Standard Motor Products by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,446 shares of the auto parts company's stock valued at $310,000 after purchasing an additional 546 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Standard Motor Products during the 1st quarter worth about $214,000. Empowered Funds LLC boosted its holdings in shares of Standard Motor Products by 3.0% during the 1st quarter. Empowered Funds LLC now owns 114,036 shares of the auto parts company's stock worth $2,843,000 after buying an additional 3,352 shares during the period. Jane Street Group LLC grew its stake in Standard Motor Products by 320.0% in the 1st quarter. Jane Street Group LLC now owns 64,037 shares of the auto parts company's stock valued at $1,596,000 after buying an additional 48,790 shares during the last quarter. Finally, Creative Planning acquired a new position in Standard Motor Products in the 2nd quarter valued at about $431,000. 81.26% of the stock is owned by institutional investors.

Standard Motor Products Stock Performance

NYSE SMP opened at $35.64 on Friday. The firm has a 50-day moving average price of $39.56 and a two-hundred day moving average price of $38.95. Standard Motor Products, Inc. has a 12-month low of $21.38 and a 12-month high of $46.00. The company has a market capitalization of $789.26 million, a P/E ratio of 19.26 and a beta of 0.80. The company has a quick ratio of 0.69, a current ratio of 2.13 and a debt-to-equity ratio of 0.81.

Standard Motor Products (NYSE:SMP - Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The auto parts company reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of $0.45 by $0.11. The company had revenue of $385.09 million during the quarter, compared to the consensus estimate of $385.91 million. Standard Motor Products had a net margin of 2.31% and a return on equity of 13.15%. Analysts anticipate that Standard Motor Products, Inc. will post 3.08 earnings per share for the current year.

Standard Motor Products Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Monday, February 16th were issued a $0.33 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $1.32 annualized dividend and a yield of 3.7%. This is a boost from Standard Motor Products's previous quarterly dividend of $0.31. Standard Motor Products's payout ratio is presently 71.35%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SMP. Zacks Research downgraded shares of Standard Motor Products from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 1st. Weiss Ratings upgraded Standard Motor Products from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, March 16th. Finally, Wall Street Zen cut Standard Motor Products from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 7th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, Standard Motor Products has a consensus rating of "Moderate Buy" and a consensus price target of $49.00.

Standard Motor Products Profile

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.

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