Standard Motor Products, Inc. $SMP Shares Acquired by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase increased its stake in Standard Motor Products by 405.3% in Q3, adding 40,898 shares to hold 50,990 shares (0.23% of the company) valued at about $2.08 million, while institutional investors own 81.26% of the stock.
• Standard Motor Products topped quarterly EPS estimates ($0.56 vs. $0.45) on roughly in-line revenue and raised its quarterly dividend to $0.33 (annualized $1.32), implying a 3.7% yield and a 71.35% payout ratio.
• The stock trades near $35.38 with a market cap of $783.5 million and a P/E of 19.1, and analysts have a consensus "Moderate Buy" rating with an average price target of $49.00.

JPMorgan Chase & Co. lifted its stake in shares of Standard Motor Products, Inc. (NYSE:SMP - Free Report) by 405.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,990 shares of the auto parts company's stock after acquiring an additional 40,898 shares during the period. JPMorgan Chase & Co. owned 0.23% of Standard Motor Products worth $2,081,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in SMP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Standard Motor Products by 4.6% during 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 acquiring 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 first quarter valued at $214,000. Empowered Funds LLC boosted its stake in shares of Standard Motor Products by 3.0% during the first quarter. Empowered Funds LLC now owns 114,036 shares of the auto parts company's stock valued at $2,843,000 after acquiring an additional 3,352 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of Standard Motor Products by 320.0% during the first quarter. Jane Street Group LLC now owns 64,037 shares of the auto parts company's stock valued at $1,596,000 after acquiring an additional 48,790 shares during the last quarter. Finally, Creative Planning acquired a new stake in shares of Standard Motor Products during the second quarter valued at $431,000. Institutional investors and hedge funds own 81.26% of the company's stock.

Standard Motor Products Stock Down 0.5%

Shares of NYSE:SMP opened at $35.38 on Tuesday. The stock's 50-day moving average price is $39.48 and its two-hundred day moving average price is $38.90. The company has a current ratio of 2.13, a quick ratio of 0.69 and a debt-to-equity ratio of 0.81. Standard Motor Products, Inc. has a 12-month low of $21.38 and a 12-month high of $46.00. The firm has a market cap of $783.50 million, a price-to-earnings ratio of 19.12 and a beta of 0.80.

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

Standard Motor Products Increases Dividend

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

Wall Street Analysts Forecast Growth

SMP has been the topic of a number of analyst reports. Zacks Research lowered Standard Motor Products from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 1st. Weiss Ratings raised 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 lowered Standard Motor Products from a "strong-buy" rating to a "buy" rating in a research note 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. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average 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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