Rhumbline Advisers Has $3.21 Million Holdings in Standard Motor Products, Inc. $SMP

Key Points

• Rhumbline Advisers increased its stake in Standard Motor Products by 8.4%, owning approximately 0.59% of the company worth $3.2 million after acquiring additional shares in the first quarter.
• Standard Motor Products reported $1.29 earnings per share for the last quarter, exceeding analyst expectations and indicating a 26.7% year-over-year revenue increase.
• The company declared a quarterly dividend of $0.31 per share, representing a 3.0% yield based on an annualized payment.

Rhumbline Advisers grew its position in Standard Motor Products, Inc. (NYSE:SMP - Free Report) by 8.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 128,896 shares of the auto parts company's stock after purchasing an additional 9,979 shares during the period. Rhumbline Advisers owned approximately 0.59% of Standard Motor Products worth $3,213,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. SummerHaven Investment Management LLC grew its position in Standard Motor Products by 1.6% in the 1st quarter. SummerHaven Investment Management LLC now owns 29,228 shares of the auto parts company's stock worth $729,000 after purchasing an additional 463 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Standard Motor Products by 4.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,900 shares of the auto parts company's stock valued at $369,000 after acquiring an additional 469 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Standard Motor Products by 3.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 45,660 shares of the auto parts company's stock valued at $1,415,000 after acquiring an additional 1,388 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Standard Motor Products by 188.3% in the first quarter. PNC Financial Services Group Inc. now owns 2,295 shares of the auto parts company's stock valued at $57,000 after acquiring an additional 1,499 shares in the last quarter. Finally, Probity Advisors Inc. boosted its holdings in shares of Standard Motor Products by 17.7% in the fourth quarter. Probity Advisors Inc. now owns 10,671 shares of the auto parts company's stock valued at $331,000 after acquiring an additional 1,603 shares in the last quarter. Institutional investors own 81.26% of the company's stock.

Standard Motor Products Stock Down 2.7%

Shares of SMP traded down $1.09 during mid-day trading on Friday, hitting $39.44. 319,183 shares of the company's stock were exchanged, compared to its average volume of 143,279. The firm has a fifty day moving average of $36.72 and a two-hundred day moving average of $30.89. Standard Motor Products, Inc. has a twelve month low of $21.38 and a twelve month high of $41.54. The stock has a market cap of $867.35 million, a price-to-earnings ratio of 22.41 and a beta of 0.66. The company has a quick ratio of 0.87, a current ratio of 2.16 and a debt-to-equity ratio of 0.86.

Standard Motor Products (NYSE:SMP - Get Free Report) last announced 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 company had revenue of $493.85 million for the quarter, compared to analyst estimates of $450.21 million. During the same quarter in the prior year, the business posted $0.98 EPS. Standard Motor Products's quarterly revenue was up 26.7% on a year-over-year basis. On average, sell-side analysts forecast that Standard Motor Products, Inc. will post 3.08 earnings per share for the current year.

Standard Motor Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 3.1%. The ex-dividend date was Friday, August 15th. Standard Motor Products's dividend payout ratio (DPR) is currently 70.45%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of 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.