Standard Motor Products, Inc. $SMP Shares Acquired by Inspire Investing LLC

Key Points

• Inspire Investing LLC increased its stake in Standard Motor Products by 192.8% in the second quarter, owning 40,562 shares valued at approximately $1.25 million.
• Standard Motor Products reported earnings of $1.29 per share for the most recent quarter, surpassing analysts' estimates of $0.97, with a revenue of $493.85 million.
• The company also announced a quarterly dividend of $0.31 per share, with a yield of 3.3%, and a dividend payout ratio of 70.45%.

Inspire Investing LLC boosted its position in Standard Motor Products, Inc. (NYSE:SMP - Free Report) by 192.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,562 shares of the auto parts company's stock after acquiring an additional 26,708 shares during the quarter. Inspire Investing LLC owned 0.18% of Standard Motor Products worth $1,246,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Royce & Associates LP raised its holdings in Standard Motor Products by 2.1% in the first quarter. Royce & Associates LP now owns 1,309,714 shares of the auto parts company's stock valued at $32,651,000 after acquiring an additional 26,712 shares in the last quarter. Gamco Investors INC. ET AL raised its holdings in Standard Motor Products by 10.1% in the first quarter. Gamco Investors INC. ET AL now owns 790,210 shares of the auto parts company's stock valued at $19,700,000 after acquiring an additional 72,753 shares in the last quarter. American Century Companies Inc. increased its stake in Standard Motor Products by 8.2% in the first quarter. American Century Companies Inc. now owns 538,266 shares of the auto parts company's stock valued at $13,419,000 after purchasing an additional 41,008 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Standard Motor Products by 3.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 255,278 shares of the auto parts company's stock valued at $6,364,000 after purchasing an additional 8,987 shares during the last quarter. Finally, Bridgeway Capital Management LLC increased its stake in Standard Motor Products by 1.7% in the first quarter. Bridgeway Capital Management LLC now owns 195,636 shares of the auto parts company's stock valued at $4,877,000 after purchasing an additional 3,352 shares during the last quarter. Institutional investors and hedge funds own 81.26% of the company's stock.

Standard Motor Products Stock Performance

Shares of SMP opened at $38.11 on Friday. The company has a current ratio of 2.16, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86. The firm has a market cap of $838.04 million, a PE ratio of 21.65 and a beta of 0.67. The company's 50 day simple moving average is $39.09 and its 200-day simple moving average is $32.32. Standard Motor Products, Inc. has a 12-month low of $21.38 and a 12-month high of $41.75.

Standard Motor Products (NYSE:SMP - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The auto parts company reported $1.29 earnings per share for the quarter, beating 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 firm had revenue of $493.85 million for the quarter, compared to analyst estimates of $450.21 million. During the same period last year, the firm posted $0.98 EPS. Standard Motor Products's quarterly revenue was up 26.7% on a year-over-year basis. As a group, equities analysts predict that Standard Motor Products, Inc. will post 3.08 EPS for the current year.

Standard Motor Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 15th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Friday, August 15th. Standard Motor Products's dividend payout ratio (DPR) is 70.45%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Weiss Ratings reiterated a "hold (c)" rating on shares of Standard Motor Products in a research note on Wednesday. Wall Street Zen upgraded shares of Standard Motor Products from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 26th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold".

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.