Assenagon Asset Management S.A. Sells 68,157 Shares of Standard Motor Products, Inc. (NYSE:SMP)

Assenagon Asset Management S.A. decreased its position in shares of Standard Motor Products, Inc. (NYSE:SMP - Free Report) by 39.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 105,534 shares of the auto parts company's stock after selling 68,157 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.49% of Standard Motor Products worth $4,201,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of SMP. PNC Financial Services Group Inc. lifted its position in Standard Motor Products by 85.8% in the second quarter. PNC Financial Services Group Inc. now owns 691 shares of the auto parts company's stock valued at $26,000 after buying an additional 319 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in Standard Motor Products by 6.0% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 5,716 shares of the auto parts company's stock worth $215,000 after buying an additional 326 shares during the period. Captrust Financial Advisors boosted its stake in Standard Motor Products by 4.4% during the second quarter. Captrust Financial Advisors now owns 8,528 shares of the auto parts company's stock worth $320,000 after buying an additional 357 shares during the period. Swiss National Bank boosted its stake in Standard Motor Products by 1.0% during the second quarter. Swiss National Bank now owns 42,300 shares of the auto parts company's stock worth $1,587,000 after buying an additional 400 shares during the period. Finally, Amalgamated Bank boosted its stake in Standard Motor Products by 5.6% during the third quarter. Amalgamated Bank now owns 7,947 shares of the auto parts company's stock worth $267,000 after buying an additional 421 shares during the period. Institutional investors and hedge funds own 81.26% of the company's stock.

Standard Motor Products Stock Down 0.7 %

Shares of NYSE SMP traded down $0.23 during midday trading on Tuesday, hitting $33.16. The company's stock had a trading volume of 166,012 shares, compared to its average volume of 134,184. The business's fifty day simple moving average is $35.83 and its two-hundred day simple moving average is $36.00. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.45 and a quick ratio of 0.78. Standard Motor Products, Inc. has a 1 year low of $30.09 and a 1 year high of $41.71. The firm has a market capitalization of $726.87 million, a price-to-earnings ratio of 21.66 and a beta of 0.61.

Standard Motor Products (NYSE:SMP - Get Free Report) last posted its quarterly earnings data on Thursday, February 22nd. The auto parts company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.25). The business had revenue of $290.76 million during the quarter, compared to analysts' expectations of $313.84 million. Standard Motor Products had a net margin of 2.51% and a return on equity of 10.09%. On average, equities analysts predict that Standard Motor Products, Inc. will post 3.03 EPS for the current year.

Standard Motor Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Thursday, February 15th were given a dividend of $0.29 per share. The ex-dividend date was Wednesday, February 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.50%. Standard Motor Products's dividend payout ratio (DPR) is presently 75.33%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SMP. StockNews.com raised shares of Standard Motor Products from a "hold" rating to a "buy" rating in a research note on Friday. TheStreet lowered shares of Standard Motor Products from a "b" rating to a "c+" rating in a research note on Thursday, February 22nd.

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.