ClariVest Asset Management LLC acquired a new position in Standard Motor Products, Inc. (NYSE:SMP) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 4,900 shares of the auto parts company’s stock, valued at approximately $256,000.
Other institutional investors also recently made changes to their positions in the company. State of Alaska Department of Revenue increased its stake in Standard Motor Products by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 2,220 shares of the auto parts company’s stock worth $109,000 after buying an additional 60 shares in the last quarter. Envestnet Asset Management Inc. acquired a new stake in Standard Motor Products during the first quarter worth approximately $152,000. NN Investment Partners Holdings N.V. acquired a new stake in Standard Motor Products during the second quarter worth approximately $186,000. Victory Capital Management Inc. increased its stake in Standard Motor Products by 119.1% in the first quarter. Victory Capital Management Inc. now owns 4,125 shares of the auto parts company’s stock worth $203,000 after buying an additional 2,242 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in Standard Motor Products during the first quarter worth approximately $226,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.
Shares of Standard Motor Products, Inc. (SMP) opened at 44.21 on Monday. The stock has a market cap of $1.01 billion, a P/E ratio of 16.48 and a beta of 1.81. Standard Motor Products, Inc. has a 52-week low of $42.43 and a 52-week high of $55.37. The firm has a 50-day moving average price of $49.44 and a 200-day moving average price of $49.39.
Standard Motor Products (NYSE:SMP) last issued its quarterly earnings results on Monday, July 31st. The auto parts company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by $0.18. Standard Motor Products had a return on equity of 14.83% and a net margin of 5.55%. The business had revenue of $312.73 million for the quarter. During the same quarter in the previous year, the company posted $0.88 earnings per share. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, analysts anticipate that Standard Motor Products, Inc. will post $2.87 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date is Friday, August 11th. Standard Motor Products’s dividend payout ratio is presently 28.36%.
A number of equities research analysts have commented on SMP shares. Zacks Investment Research upgraded Standard Motor Products from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a research report on Friday, May 5th. Jefferies Group LLC restated a “buy” rating and issued a $60.00 target price on shares of Standard Motor Products in a research report on Wednesday, August 9th. Finally, BidaskClub downgraded Standard Motor Products from a “buy” rating to a “hold” rating in a research report on Monday, August 7th.
In other Standard Motor Products news, Director Frederick D. Sturdivant sold 2,000 shares of the stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $50.75, for a total transaction of $101,500.00. Following the transaction, the director now owns 28,850 shares of the company’s stock, valued at approximately $1,464,137.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Lawrence I. Sills sold 7,000 shares of the stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $50.77, for a total value of $355,390.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,750 shares of company stock worth $1,645,693. Corporate insiders own 6.60% of the company’s stock.
About Standard Motor Products
Standard Motor Products, Inc is an independent manufacturer and distributor of replacement parts for motor vehicles in the automotive aftermarket industry with a complementary focus on heavy duty, industrial equipment and the original equipment service market. The Company’s segments include Engine Management Segment and Temperature Control Segment.
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