Standard Motor Products, Inc. $SMP Stock Bought by Royce & Associates LP

Royce & Associates LP grew its position in shares of Standard Motor Products, Inc. (NYSE:SMP) by 1.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,222,500 shares of the auto parts company’s stock after purchasing an additional 15,000 shares during the period. Royce & Associates LP owned 5.47% of Standard Motor Products worth $45,355,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Parallel Advisors LLC raised its position in shares of Standard Motor Products by 76.7% in the first quarter. Parallel Advisors LLC now owns 949 shares of the auto parts company’s stock valued at $33,000 after buying an additional 412 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Standard Motor Products by 24.6% during the third quarter. Nisa Investment Advisors LLC now owns 2,195 shares of the auto parts company’s stock valued at $81,000 after buying an additional 433 shares during the period. Illinois Municipal Retirement Fund boosted its position in Standard Motor Products by 4.2% during the first quarter. Illinois Municipal Retirement Fund now owns 11,679 shares of the auto parts company’s stock worth $406,000 after acquiring an additional 466 shares during the last quarter. Fifth Third Bancorp boosted its position in Standard Motor Products by 10.7% during the third quarter. Fifth Third Bancorp now owns 5,182 shares of the auto parts company’s stock worth $192,000 after acquiring an additional 501 shares during the last quarter. Finally, Versant Capital Management Inc boosted its position in Standard Motor Products by 89.1% during the third quarter. Versant Capital Management Inc now owns 1,159 shares of the auto parts company’s stock worth $43,000 after acquiring an additional 546 shares during the last quarter. 81.26% of the stock is currently owned by hedge funds and other institutional investors.

Standard Motor Products Trading Up 0.3%

Shares of SMP traded up $0.13 during mid-day trading on Friday, reaching $44.08. The company had a trading volume of 98,570 shares, compared to its average volume of 161,384. Standard Motor Products, Inc. has a fifty-two week low of $34.27 and a fifty-two week high of $47.27. The firm has a fifty day simple moving average of $39.12 and a 200-day simple moving average of $38.86. The stock has a market cap of $984.75 million, a price-to-earnings ratio of 14.45 and a beta of 0.80. The company has a current ratio of 1.81, a quick ratio of 0.73 and a debt-to-equity ratio of 0.56.

Standard Motor Products (NYSE:SMP) last released its quarterly earnings data on Friday, October 30th. The auto parts company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.13. The business had revenue of $512.90 million during the quarter, compared to the consensus estimate of $514.99 million. Standard Motor Products had a return on equity of 13.65% and a net margin of 3.77%. On average, sell-side analysts anticipate that Standard Motor Products, Inc. will post 4.30 EPS for the current fiscal year.

Standard Motor Products Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Monday, November 16th will be issued a $0.33 dividend. The ex-dividend date is Monday, November 16th. This represents a $1.32 dividend on an annualized basis and a yield of 3.0%. Standard Motor Products’s dividend payout ratio (DPR) is presently 43.28%.

Insider Transactions at Standard Motor Products

In other news, EVP Dale Burks sold 2,020 shares of the firm’s stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $44.14, for a total value of $89,162.80. Following the transaction, the executive vice president directly owned 47,044 shares in the company, valued at $2,076,522.16. This trade represents a 4.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Carmine Broccole sold 1,708 shares of the firm’s stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $44.13, for a total value of $75,374.04. Following the completion of the transaction, the insider owned 74,305 shares in the company, valued at approximately $3,279,079.65. This trade represents a 2.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 17,124 shares of company stock worth $707,413 in the last three months. 5.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Standard Motor Products in a report on Monday, October 26th. Roth Capital reissued a “buy” rating and set a $54.00 price target on shares of Standard Motor Products in a research note on Monday, November 2nd. Finally, Wall Street Zen upgraded Standard Motor Products from a “hold” rating to a “buy” rating in a report on Sunday, August 16th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $54.00.

Standard Motor Products Company Profile

Standard Motor Products, Inc. (NYSE: SMP) designs, manufactures and distributes replacement parts for the automotive aftermarket, along with components for original equipment manufacturers. Founded in 1919, the company has a long history in the vehicle-parts industry. Its products include ignition, fuel, emissions, engine-management and temperature-control parts, as well as switches, sensors and related electrical components. The company sells products under brands including Standard and Blue Streak.