Rhumbline Advisers Raises Stock Position 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 lifted its holdings in Standard Motor Products, Inc. (NYSE:SMP - Free Report) by 8.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,896 shares of the auto parts company's stock after buying an additional 9,979 shares during the quarter. Rhumbline Advisers owned 0.59% of Standard Motor Products worth $3,213,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Assenagon Asset Management S.A. purchased a new stake in shares of Standard Motor Products in the first quarter valued at approximately $996,000. North Star Investment Management Corp. acquired a new position in Standard Motor Products during the first quarter worth about $823,000. SG Americas Securities LLC grew its position in Standard Motor Products by 144.8% during the first quarter. SG Americas Securities LLC now owns 25,604 shares of the auto parts company's stock worth $638,000 after buying an additional 15,146 shares during the period. GAMMA Investing LLC grew its position in Standard Motor Products by 2,880.9% during the first quarter. GAMMA Investing LLC now owns 26,351 shares of the auto parts company's stock worth $657,000 after buying an additional 25,467 shares during the period. Finally, Deutsche Bank AG grew its position in Standard Motor Products by 270.1% during the fourth quarter. Deutsche Bank AG now owns 48,293 shares of the auto parts company's stock worth $1,496,000 after buying an additional 35,245 shares during the period. 81.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Standard Motor Products Trading Down 2.8%

Shares of SMP traded down $1.14 during mid-day trading on Friday, reaching $39.39. The company had a trading volume of 88,622 shares, compared to its average volume of 172,619. The stock has a market cap of $866.19 million, a price-to-earnings ratio of 22.37 and a beta of 0.66. The firm has a fifty day simple moving average of $36.59 and a 200-day simple moving average of $30.82. Standard Motor Products, Inc. has a fifty-two week low of $21.38 and a fifty-two week high of $41.54. The company has a current ratio of 2.16, a quick ratio of 0.87 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 earnings per share for the quarter, beating analysts' consensus estimates of $0.97 by $0.32. The company had revenue of $493.85 million for the quarter, compared to analyst estimates of $450.21 million. Standard Motor Products had a net margin of 2.39% and a return on equity of 12.98%. Standard Motor Products's revenue for the quarter was up 26.7% on a year-over-year basis. During the same quarter last year, the business earned $0.98 EPS. On average, sell-side analysts anticipate that Standard Motor Products, Inc. will post 3.08 EPS for the current fiscal 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 issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Friday, August 15th. Standard Motor Products's dividend payout ratio (DPR) is 70.45%.

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.