Standard Motor Products, Inc. $SMP Stock Sold by Azarias Capital Management L.P.

Azarias Capital Management L.P. trimmed its position in Standard Motor Products, Inc. (NYSE:SMP) by 50.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 60,132 shares of the auto parts company’s stock after selling 60,941 shares during the period. Standard Motor Products makes up 2.1% of Azarias Capital Management L.P.’s holdings, making the stock its 19th biggest holding. Azarias Capital Management L.P.’s holdings in Standard Motor Products were worth $2,231,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in SMP. Parallel Advisors LLC raised its stake in shares of Standard Motor Products by 76.7% during the first quarter. Parallel Advisors LLC now owns 949 shares of the auto parts company’s stock valued at $33,000 after acquiring an additional 412 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in Standard Motor Products during the 2nd quarter valued at about $35,000. Tompkins Financial Corp bought a new position in Standard Motor Products during the 3rd quarter valued at approximately $37,000. Caitong International Asset Management Co. Ltd raised its position in Standard Motor Products by 7,560.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,149 shares of the auto parts company’s stock valued at $42,000 after purchasing an additional 1,134 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in shares of Standard Motor Products by 89.1% in the 3rd quarter. Versant Capital Management Inc now owns 1,159 shares of the auto parts company’s stock worth $43,000 after buying an additional 546 shares during the last quarter. Institutional investors own 81.26% of the company’s stock.

Insider Activity at Standard Motor Products

In other news, EVP Dale Burks sold 5,798 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $39.00, for a total transaction of $226,122.00. Following the completion of the transaction, the executive vice president directly owned 47,657 shares in the company, valued at $1,858,623. This trade represents a 10.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 18,349 shares of company stock valued at $712,146 over the last 90 days. Corporate insiders own 5.50% of the company’s stock.

Standard Motor Products Stock Down 2.1%

Shares of SMP stock traded down $0.78 during mid-day trading on Wednesday, reaching $36.25. 123,964 shares of the company’s stock traded hands, compared to its average volume of 139,938. The company has a quick ratio of 0.80, a current ratio of 2.00 and a debt-to-equity ratio of 0.73. The company’s 50-day moving average price is $38.17 and its 200-day moving average price is $38.18. The company has a market cap of $809.83 million, a P/E ratio of 16.18 and a beta of 0.85. Standard Motor Products, Inc. has a 12 month low of $34.27 and a 12 month high of $46.00.

Standard Motor Products (NYSE:SMP) last announced its quarterly earnings data on Tuesday, August 4th. The auto parts company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.01. Standard Motor Products had a net margin of 2.78% and a return on equity of 13.28%. The business had revenue of $526.72 million for the quarter, compared to analysts’ expectations of $511.68 million. During the same quarter in the prior year, the company earned $1.13 earnings per share. On average, equities analysts expect that Standard Motor Products, Inc. will post 4.23 earnings per share for the current fiscal year.

Standard Motor Products Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Friday, August 14th. Standard Motor Products’s dividend payout ratio is currently 58.93%.

Analysts Set New Price Targets

A number of equities analysts recently commented on SMP shares. Weiss Ratings upgraded Standard Motor Products from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, July 28th. Roth Capital reaffirmed a “buy” rating and issued a $54.00 target price on shares of Standard Motor Products in a research report on Monday. Finally, Wall Street Zen raised shares of Standard Motor Products from a “hold” rating to a “buy” rating in a research note on Sunday, August 16th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Standard Motor Products presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

About Standard Motor Products

Standard Motor Products, Inc (NYSE:SMP) manufactures and distributes replacement parts for the automotive aftermarket. The company supplies components used to maintain and repair passenger vehicles, light trucks, and other vehicles, serving professional repair shops, parts distributors, and do-it-yourself customers.

Its product portfolio includes engine-management components such as ignition, fuel, emissions, and sensor products, as well as temperature-control parts, including air-conditioning and cooling-system components.