Standard Motor Products, Inc. $SMP Shares Newly Bought by Ellsworth Advisors LLC

Key Points

• Ellsworth Advisors LLC purchased 59,511 shares of Standard Motor Products worth approximately $2.21 million, giving it a 0.27% stake. Other institutional investors also increased or initiated positions, with institutions collectively owning 81.26% of the company.
• Standard Motor Products reported quarterly EPS of $1.40, narrowly beating estimates, while revenue of $526.72 million exceeded expectations. The company also pays a $0.33 quarterly dividend, equivalent to a 3.6% yield.
• Analyst sentiment is moderately bullish: two analysts rate SMP a Buy and one rates it Hold, with an average price target of $54 versus the stock’s reported price of $37.14. Shares were recently up 2.4%.

Ellsworth Advisors LLC purchased a new stake in shares of Standard Motor Products, Inc. (NYSE:SMP - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 59,511 shares of the auto parts company's stock, valued at approximately $2,208,000. Ellsworth Advisors LLC owned about 0.27% of Standard Motor Products at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in SMP. Avidian Wealth Enterprises LLC bought a new position in shares of Standard Motor Products during the 3rd quarter valued at $448,000. Tompkins Financial Corp bought a new stake in Standard Motor Products during the 3rd quarter valued at approximately $37,000. Versant Capital Management Inc grew its stake in shares of Standard Motor Products by 89.1% in the third quarter. Versant Capital Management Inc now owns 1,159 shares of the auto parts company's stock worth $43,000 after acquiring an additional 546 shares during the last quarter. Tidal Investments LLC bought a new stake in shares of Standard Motor Products in the second quarter valued at about $686,000. Finally, Engineers Gate Manager LP bought a new stake in shares of Standard Motor Products in the 2nd quarter worth approximately $635,000. Institutional investors own 81.26% of the company's stock.

Insider Buying and Selling at Standard Motor Products

In other Standard Motor Products news, EVP Dale Burks sold 5,798 shares of the firm's stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $39.00, for a total value of $226,122.00. Following the sale, the executive vice president owned 47,657 shares in the company, valued at $1,858,623. This trade represents a 10.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In the last ninety days, insiders sold 18,349 shares of company stock worth $712,146. 5.50% of the stock is owned by corporate insiders.

Standard Motor Products Stock Up 2.4%

SMP stock opened at $37.14 on Friday. Standard Motor Products, Inc. has a twelve month low of $34.27 and a twelve month high of $46.00. The company has a quick ratio of 0.80, a current ratio of 2.00 and a debt-to-equity ratio of 0.73. The business has a 50 day moving average price of $38.06 and a two-hundred day moving average price of $38.18. The company has a market cap of $829.62 million, a price-to-earnings ratio of 16.58 and a beta of 0.85.

Standard Motor Products (NYSE:SMP - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The auto parts company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.01. The firm had revenue of $526.72 million for the quarter, compared to analyst estimates of $511.68 million. Standard Motor Products had a return on equity of 13.28% and a net margin of 2.78%. During the same quarter in the prior year, the company earned $1.13 earnings per share. Analysts anticipate that Standard Motor Products, Inc. will post 4.23 EPS for the current fiscal year.

Standard Motor Products Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.6%. The ex-dividend date was Friday, August 14th. Standard Motor Products's payout ratio is currently 58.93%.

Analyst Ratings Changes

A number of brokerages have commented on SMP. Weiss Ratings upgraded shares of Standard Motor Products from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, July 28th. Wall Street Zen upgraded shares of Standard Motor Products from a "hold" rating to a "buy" rating in a research report on Sunday, August 16th. Finally, Roth Capital reaffirmed a "buy" rating and issued a $54.00 target price on shares of Standard Motor Products in a research note on Monday. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $54.00.

About Standard Motor Products

Standard Motor Products, Inc NYSE: SMP manufactures and distributes replacement parts for the automotive aftermarket. The company supplies components used to maintain and repair passenger vehicles, light trucks, and other vehicles, serving professional repair shops, parts distributors, and do-it-yourself customers.

Its product portfolio includes engine-management components such as ignition, fuel, emissions, and sensor products, as well as temperature-control parts, including air-conditioning and cooling-system components.

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