Versor Investments LP Raises Holdings in Standard Motor Products, Inc. $SMP

Key Points

• Versor Investments LP has increased its stake in Standard Motor Products by 91.0% in the first quarter, acquiring an additional 14,100 shares to reach ownership of 0.13% of the company.
• Standard Motor Products reported $1.29 EPS for the last quarter, exceeding analysts' expectations of $0.97, alongside a 26.7% increase in revenue compared to the previous year.
• The company has announced a quarterly dividend of $0.31 per share with a yield of 3.3%, reflecting a dividend payout ratio of 70.45%.

Versor Investments LP lifted its stake in Standard Motor Products, Inc. (NYSE:SMP - Free Report) by 91.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,600 shares of the auto parts company's stock after acquiring an additional 14,100 shares during the period. Versor Investments LP owned 0.13% of Standard Motor Products worth $738,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in SMP. Royce & Associates LP grew its stake in Standard Motor Products by 2.1% during the 1st quarter. Royce & Associates LP now owns 1,309,714 shares of the auto parts company's stock worth $32,651,000 after buying an additional 26,712 shares during the last quarter. American Century Companies Inc. grew its stake in Standard Motor Products by 8.2% during the 1st quarter. American Century Companies Inc. now owns 538,266 shares of the auto parts company's stock worth $13,419,000 after buying an additional 41,008 shares during the last quarter. Geode Capital Management LLC grew its stake in Standard Motor Products by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 494,489 shares of the auto parts company's stock worth $15,323,000 after buying an additional 9,190 shares during the last quarter. Northern Trust Corp grew its stake in Standard Motor Products by 3.8% during the 4th quarter. Northern Trust Corp now owns 334,037 shares of the auto parts company's stock worth $10,348,000 after buying an additional 12,379 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Standard Motor Products by 3.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 255,278 shares of the auto parts company's stock worth $6,364,000 after buying an additional 8,987 shares during the last quarter. 81.26% of the stock is owned by institutional investors.

Standard Motor Products Stock Performance

Standard Motor Products stock traded up $1.29 during trading hours on Friday, hitting $38.74. 200,025 shares of the stock traded hands, compared to its average volume of 237,159. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.16 and a quick ratio of 0.87. The firm's 50 day moving average price is $33.54 and its 200-day moving average price is $29.59. The stock has a market capitalization of $851.89 million, a price-to-earnings ratio of 22.01 and a beta of 0.63. Standard Motor Products, Inc. has a 1 year low of $21.38 and a 1 year high of $40.18.

Standard Motor Products (NYSE:SMP - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The auto parts company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.32. The business had revenue of $493.85 million for the quarter, compared to the consensus estimate of $450.21 million. Standard Motor Products had a return on equity of 12.98% and a net margin of 2.39%.The company's quarterly revenue was up 26.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.98 EPS. As a group, equities analysts expect that Standard Motor Products, Inc. will post 3.08 EPS for the current fiscal year.

Standard Motor Products Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 3.2%. The ex-dividend date is Friday, August 15th. Standard Motor Products's payout ratio is presently 70.45%.

Analyst Upgrades and Downgrades

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 Company 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.