Invenomic Capital Management LP Trims Stock Position in Standard Motor Products, Inc. (NYSE:SMP)

Invenomic Capital Management LP lessened its position in shares of Standard Motor Products, Inc. (NYSE:SMP - Free Report) by 13.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 90,844 shares of the auto parts company's stock after selling 14,537 shares during the quarter. Invenomic Capital Management LP owned 0.42% of Standard Motor Products worth $2,814,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of SMP. Barclays PLC increased its stake in Standard Motor Products by 359.9% in the 3rd quarter. Barclays PLC now owns 48,522 shares of the auto parts company's stock worth $1,609,000 after buying an additional 37,971 shares in the last quarter. Franklin Resources Inc. bought a new stake in Standard Motor Products during the third quarter worth approximately $3,876,000. Inspire Investing LLC boosted its stake in Standard Motor Products by 3.1% during the fourth quarter. Inspire Investing LLC now owns 12,896 shares of the auto parts company's stock worth $400,000 after buying an additional 383 shares during the period. Exchange Traded Concepts LLC boosted its stake in Standard Motor Products by 5.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 9,421 shares of the auto parts company's stock worth $292,000 after buying an additional 446 shares during the period. Finally, Empowered Funds LLC grew its stake in shares of Standard Motor Products by 5.1% during the fourth quarter. Empowered Funds LLC now owns 110,684 shares of the auto parts company's stock valued at $3,429,000 after buying an additional 5,341 shares during the last quarter. Hedge funds and other institutional investors own 81.26% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Standard Motor Products from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 3rd.

Standard Motor Products Stock Down 0.7%

Standard Motor Products stock traded down $0.21 during mid-day trading on Thursday, reaching $29.58. 132,910 shares of the company were exchanged, compared to its average volume of 168,510. The business has a fifty day moving average of $25.43 and a 200 day moving average of $29.48. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.82 and a current ratio of 2.25. The firm has a market cap of $650.20 million, a P/E ratio of 18.26 and a beta of 0.62. Standard Motor Products, Inc. has a 12-month low of $21.38 and a 12-month high of $35.92.

Standard Motor Products (NYSE:SMP - Get Free Report) last posted its earnings results on Wednesday, April 30th. The auto parts company reported $0.81 earnings per share for the quarter, topping analysts' consensus estimates of $0.44 by $0.37. Standard Motor Products had a return on equity of 10.42% and a net margin of 2.56%. The company had revenue of $413.38 million during the quarter, compared to analyst estimates of $394.38 million. During the same quarter in the prior year, the business earned $0.45 earnings per share. Standard Motor Products's revenue was up 24.7% on a year-over-year basis. Research analysts anticipate that Standard Motor Products, Inc. will post 3.08 earnings per share for the current fiscal year.

Standard Motor Products Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 4.19%. The ex-dividend date is Thursday, May 15th. This is a positive change from Standard Motor Products's previous quarterly dividend of $0.29. Standard Motor Products's dividend payout ratio is currently 88.57%.

Insider Activity at Standard Motor Products

In other Standard Motor Products news, EVP Dale Burks sold 11,005 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $27.20, for a total transaction of $299,336.00. Following the sale, the executive vice president now directly owns 56,860 shares of the company's stock, valued at approximately $1,546,592. This trade represents a 16.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.00% of the stock is owned by insiders.

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.