Standard Motor Products, Inc. (SMP) Shares Bought by Pacific Ridge Capital Partners LLC
Pacific Ridge Capital Partners LLC lifted its stake in Standard Motor Products, Inc. (NYSE:SMP) by 12.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,740 shares of the auto parts company’s stock after acquiring an additional 2,910 shares during the quarter. Pacific Ridge Capital Partners LLC owned 0.12% of Standard Motor Products worth $1,396,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. State of Alaska Department of Revenue grew its stake in shares of 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 acquiring an additional 60 shares during the period. Envestnet Asset Management Inc. bought a new stake in shares of Standard Motor Products in the first quarter worth approximately $152,000. NN Investment Partners Holdings N.V. bought a new stake in shares of Standard Motor Products in the second quarter worth approximately $186,000. Victory Capital Management Inc. grew its stake in shares of 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 acquiring an additional 2,242 shares during the period. Finally, Campbell & CO Investment Adviser LLC bought a new stake in shares of Standard Motor Products in the first quarter worth approximately $226,000. Hedge funds and other institutional investors own 78.43% of the company’s stock.
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A number of analysts have recently commented on the stock. BidaskClub upgraded shares of Standard Motor Products from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Zacks Investment Research downgraded shares of Standard Motor Products from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Jefferies Group LLC reissued a “buy” rating on shares of Standard Motor Products in a report on Friday, July 7th. Finally, ValuEngine downgraded shares of Standard Motor Products from a “buy” rating to a “hold” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $55.67.
Standard Motor Products, Inc. (SMP) opened at 44.81 on Monday. The stock has a market cap of $1.02 billion, a P/E ratio of 16.70 and a beta of 1.79. Standard Motor Products, Inc. has a 12-month low of $43.29 and a 12-month high of $55.37. The company has a 50 day moving average of $47.47 and a 200-day moving average of $49.01.
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 the Thomson Reuters’ consensus estimate 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 during the quarter. During the same quarter in the previous year, the business posted $0.88 EPS. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. Equities analysts forecast that Standard Motor Products, Inc. will post $2.87 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Tuesday, August 15th were issued a $0.19 dividend. The ex-dividend date was Friday, August 11th. This represents a $0.76 annualized dividend and a yield of 1.70%. Standard Motor Products’s dividend payout ratio (DPR) is presently 28.36%.
In related news, SVP Carmine Joseph Broccole sold 2,000 shares of the stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $49.49, for a total value of $98,980.00. Following the transaction, the senior vice president now owns 47,823 shares in the company, valued at approximately $2,366,760.27. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Lawrence I. Sills sold 4,800 shares of the stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $50.83, for a total transaction of $243,984.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 101,432 shares of company stock worth $4,636,801. 6.60% of the stock is owned by corporate insiders.
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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