California Public Employees Retirement System cut its stake in Standard Motor Products, Inc. (NYSE:SMP) by 0.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,500 shares of the auto parts company’s stock after selling 200 shares during the period. California Public Employees Retirement System owned approximately 0.15% of Standard Motor Products worth $1,802,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Municipal Employees Retirement System of Michigan raised its holdings in shares of Standard Motor Products by 1.0% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 6,350 shares of the auto parts company’s stock worth $332,000 after buying an additional 60 shares in the last quarter. Texas Permanent School Fund raised its holdings in shares of Standard Motor Products by 0.8% during the 2nd quarter. Texas Permanent School Fund now owns 14,663 shares of the auto parts company’s stock worth $766,000 after buying an additional 113 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Standard Motor Products by 0.6% during the 1st quarter. Legal & General Group Plc now owns 33,915 shares of the auto parts company’s stock worth $1,666,000 after buying an additional 215 shares in the last quarter. First Midwest Bank Trust Division raised its holdings in shares of Standard Motor Products by 3.1% during the 2nd quarter. First Midwest Bank Trust Division now owns 11,189 shares of the auto parts company’s stock worth $584,000 after buying an additional 332 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of Standard Motor Products by 1.0% during the 2nd quarter. Wells Fargo & Company MN now owns 38,285 shares of the auto parts company’s stock worth $1,999,000 after buying an additional 397 shares in the last quarter. 78.65% of the stock is owned by hedge funds and other institutional investors.

Shares of Standard Motor Products, Inc. (SMP) opened at $42.77 on Friday. The stock has a market capitalization of $967.37, a price-to-earnings ratio of 15.78, a price-to-earnings-growth ratio of 2.66 and a beta of 1.80.

Standard Motor Products (NYSE:SMP) last issued its quarterly earnings data on Thursday, October 26th. The auto parts company reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.12). The firm had revenue of $281.06 million for the quarter. Standard Motor Products had a return on equity of 13.68% and a net margin of 4.97%. The firm’s revenue was down 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.92 EPS. analysts forecast that Standard Motor Products, Inc. will post 2.67 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.76 dividend on an annualized basis and a yield of 1.78%. Standard Motor Products’s dividend payout ratio is currently 32.20%.

A number of research firms have recently commented on SMP. BidaskClub cut Standard Motor Products from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Zacks Investment Research raised Standard Motor Products from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. Jefferies Group LLC reissued a “buy” rating and set a $60.00 price target on shares of Standard Motor Products in a report on Wednesday, August 9th. FBR & Co reissued a “hold” rating and set a $48.00 price target on shares of Standard Motor Products in a report on Friday, October 27th. Finally, ValuEngine cut Standard Motor Products from a “buy” rating to a “hold” rating in a report on Thursday, August 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Standard Motor Products presently has an average rating of “Hold” and an average target price of $54.00.

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In other Standard Motor Products news, VP Thomas Tesoro sold 775 shares of the company’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $44.18, for a total value of $34,239.50. Following the sale, the vice president now owns 31,456 shares in the company, valued at approximately $1,389,726.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Ray Nicholas sold 1,331 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $45.25, for a total value of $60,227.75. Following the completion of the sale, the vice president now owns 30,250 shares in the company, valued at approximately $1,368,812.50. The disclosure for this sale can be found here. Insiders have sold a total of 104,899 shares of company stock worth $4,706,903 in the last 90 days. 6.60% of the stock is currently owned by corporate insiders.

Standard Motor Products Profile

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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Institutional Ownership by Quarter for Standard Motor Products (NYSE:SMP)

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