Quantamental Technologies LLC Takes Position in Standard Motor Products, Inc. (NYSE:SMP)
Quantamental Technologies LLC purchased a new position in Standard Motor Products, Inc. (NYSE:SMP) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,509 shares of the auto parts company’s stock, valued at approximately $68,000.
Several other institutional investors have also recently modified their holdings of SMP. Bank of Montreal Can lifted its stake in Standard Motor Products by 18.0% in the first quarter. Bank of Montreal Can now owns 1,272 shares of the auto parts company’s stock worth $62,000 after purchasing an additional 194 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in Standard Motor Products by 283.7% in the first quarter. BNP Paribas Arbitrage SA now owns 4,420 shares of the auto parts company’s stock worth $217,000 after purchasing an additional 3,268 shares during the last quarter. Piedmont Investment Advisors Inc. grew its holdings in Standard Motor Products by 6.0% in the first quarter. Piedmont Investment Advisors Inc. now owns 5,113 shares of the auto parts company’s stock worth $251,000 after purchasing an additional 290 shares during the last quarter. Mason Street Advisors LLC lifted its stake in shares of Standard Motor Products by 3.4% during the first quarter. Mason Street Advisors LLC now owns 6,485 shares of the auto parts company’s stock worth $318,000 after buying an additional 215 shares during the period. Finally, Victory Capital Management Inc. acquired a new stake in shares of Standard Motor Products during the first quarter worth $327,000. Hedge funds and other institutional investors own 78.53% of the company’s stock.
In other Standard Motor Products news, Director Pamela Forbes Lieberman sold 16,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $50.00, for a total transaction of $800,000.00. Following the transaction, the director now directly owns 39,655 shares of the company’s stock, valued at approximately $1,982,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Thomas Tesoro sold 7,000 shares of the firm’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $44.25, for a total transaction of $309,750.00. Following the transaction, the vice president now directly owns 24,121 shares in the company, valued at $1,067,354.25. The disclosure for this sale can be found here. Insiders have sold a total of 41,131 shares of company stock worth $1,949,175 over the last three months. 6.60% of the stock is currently owned by insiders.
Standard Motor Products (NYSE:SMP) last issued its quarterly earnings data on Thursday, July 25th. The auto parts company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.80 by $0.12. Standard Motor Products had a net margin of 4.48% and a return on equity of 13.71%. The firm had revenue of $305.17 million for the quarter, compared to analyst estimates of $302.47 million. During the same period in the prior year, the business posted $0.74 EPS. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. Equities research analysts predict that Standard Motor Products, Inc. will post 3.06 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.84%. The ex-dividend date was Wednesday, August 14th. Standard Motor Products’s payout ratio is currently 36.08%.
Separately, Zacks Investment Research downgraded shares of Standard Motor Products from a “hold” rating to a “sell” rating and set a $50.00 price objective for the company. in a research report on Monday, July 29th.
About Standard Motor Products
Standard Motor Products, Inc manufactures and distributes replacement parts for motor vehicles in the automotive aftermarket industry. The company operates in two segments, Engine Management and Temperature Control. The Engine Management segment offers electronic ignition control modules, new and remanufactured fuel injectors, ignition wires, coils, switches, relays, EGR valves, distributor caps and rotors, sensors, electronic throttle bodies, keyless entry transmitters, safety-related components, and other engine management components.
Featured Article: What are trading strategies for the 52-week high/low?
Want to see what other hedge funds are holding SMP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Standard Motor Products, Inc. (NYSE:SMP).
Receive News & Ratings for Standard Motor Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Standard Motor Products and related companies with MarketBeat.com's FREE daily email newsletter.