Standard Motor Products, Inc. (NYSE:SMP) Shares Sold by Millennium Management LLC

Millennium Management LLC trimmed its holdings in shares of Standard Motor Products, Inc. (NYSE:SMP - Free Report) by 65.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,567 shares of the auto parts company's stock after selling 18,035 shares during the quarter. Millennium Management LLC's holdings in Standard Motor Products were worth $296,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of SMP. Vanguard Group Inc. boosted its stake in Standard Motor Products by 4.3% in the fourth quarter. Vanguard Group Inc. now owns 1,655,886 shares of the auto parts company's stock valued at $51,299,000 after acquiring an additional 69,000 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in shares of Standard Motor Products by 2.1% during the 4th quarter. William Blair Investment Management LLC now owns 929,813 shares of the auto parts company's stock valued at $28,806,000 after purchasing an additional 19,180 shares during the last quarter. Gamco Investors INC. ET AL boosted its position in shares of Standard Motor Products by 4.7% in the 4th quarter. Gamco Investors INC. ET AL now owns 717,457 shares of the auto parts company's stock worth $22,227,000 after purchasing an additional 32,197 shares in the last quarter. American Century Companies Inc. grew its stake in Standard Motor Products by 21.1% during the 4th quarter. American Century Companies Inc. now owns 497,258 shares of the auto parts company's stock worth $15,405,000 after buying an additional 86,640 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Standard Motor Products by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 494,489 shares of the auto parts company's stock valued at $15,323,000 after buying an additional 9,190 shares in the last quarter. Institutional investors own 81.26% of the company's stock.

Standard Motor Products Stock Performance

Shares of NYSE SMP remained flat at $30.84 during midday trading on Thursday. 11,638 shares of the company's stock were exchanged, compared to its average volume of 169,085. The company has a market cap of $677.89 million, a PE ratio of 19.04 and a beta of 0.65. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.82 and a current ratio of 2.25. Standard Motor Products, Inc. has a fifty-two week low of $21.38 and a fifty-two week high of $35.92. The company's 50-day moving average is $26.98 and its 200-day moving average is $29.02.

Standard Motor Products (NYSE:SMP - Get Free Report) last issued its earnings results on Wednesday, April 30th. The auto parts company reported $0.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.44 by $0.37. The company had revenue of $413.38 million during the quarter, compared to analyst estimates of $394.38 million. Standard Motor Products had a return on equity of 10.42% and a net margin of 2.56%. The firm's quarterly revenue was up 24.7% on a year-over-year basis. During the same quarter last year, the business posted $0.45 EPS. Analysts predict that Standard Motor Products, Inc. will post 3.08 earnings per share for the current year.

Standard Motor Products Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Thursday, May 15th were given a $0.31 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.24 dividend on an annualized basis and a yield of 4.02%. This is a positive change from Standard Motor Products's previous quarterly dividend of $0.29. Standard Motor Products's dividend payout ratio is currently 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 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.