Standard Motor Products, Inc. $SMP Shares Bought by Gamco Investors INC. ET AL

Key Points

• Gamco Investors INC. ET AL increased its stake in Standard Motor Products by 10.1%, owning approximately 3.59% of the company, equivalent to 790,210 shares worth $19.7 million.
• Standard Motor Products achieved a quarterly revenue of $493.85 million, significantly surpassing analysts' expectations of $450.21 million and reporting earnings per share of $1.29.
• In addition to a strong performance, the company declared a quarterly dividend of $0.31 per share, resulting in a 3.2% dividend yield and a payout ratio of 70.45%.

Gamco Investors INC. ET AL grew its holdings in shares of Standard Motor Products, Inc. (NYSE:SMP - Free Report) by 10.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 790,210 shares of the auto parts company's stock after acquiring an additional 72,753 shares during the period. Gamco Investors INC. ET AL owned about 3.59% of Standard Motor Products worth $19,700,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Walleye Capital LLC acquired a new stake in shares of Standard Motor Products during the first quarter valued at about $305,000. AlphaQuest LLC acquired a new stake in shares of Standard Motor Products during the first quarter valued at about $622,000. Hsbc Holdings PLC grew its stake in shares of Standard Motor Products by 53.7% during the first quarter. Hsbc Holdings PLC now owns 22,044 shares of the auto parts company's stock valued at $546,000 after acquiring an additional 7,705 shares in the last quarter. Versor Investments LP grew its stake in shares of Standard Motor Products by 91.0% during the first quarter. Versor Investments LP now owns 29,600 shares of the auto parts company's stock valued at $738,000 after acquiring an additional 14,100 shares in the last quarter. Finally, Algert Global LLC grew its stake in shares of Standard Motor Products by 46.6% during the first quarter. Algert Global LLC now owns 119,454 shares of the auto parts company's stock valued at $2,978,000 after acquiring an additional 37,991 shares in the last quarter. 81.26% of the stock is currently owned by institutional investors and hedge funds.

Standard Motor Products Stock Performance

Shares of SMP stock opened at $38.70 on Wednesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 2.16. Standard Motor Products, Inc. has a one year low of $21.38 and a one year high of $40.18. The company's 50-day simple moving average is $33.87 and its 200-day simple moving average is $29.71. The stock has a market capitalization of $850.87 million, a price-to-earnings ratio of 21.99 and a beta of 0.63.

Standard Motor Products (NYSE:SMP - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The auto parts company reported $1.29 EPS for the quarter, topping the consensus estimate 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 analysts' expectations of $450.21 million. During the same quarter last year, the company posted $0.98 earnings per share. The company's quarterly revenue was up 26.7% compared to the same quarter last year. 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.24 annualized dividend and a dividend yield of 3.2%. Standard Motor Products's dividend payout ratio (DPR) is presently 70.45%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Standard Motor Products from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 26th.

Standard Motor Products Profile

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.

Want to see what other hedge funds are holding SMP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Standard Motor Products, Inc. (NYSE:SMP - Free Report).

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.