24,599 Shares in Standard Motor Products, Inc. $SMP Acquired by PDT Partners LLC

PDT Partners LLC purchased a new stake in Standard Motor Products, Inc. (NYSE:SMP) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 24,599 shares of the auto parts company’s stock, valued at approximately $959,000. PDT Partners LLC owned approximately 0.11% of Standard Motor Products at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Assenagon Asset Management S.A. lifted its holdings in shares of Standard Motor Products by 727.9% during the first quarter. Assenagon Asset Management S.A. now owns 98,751 shares of the auto parts company’s stock valued at $3,431,000 after acquiring an additional 86,823 shares during the period. SG Americas Securities LLC grew its holdings in shares of Standard Motor Products by 207.8% in the 1st quarter. SG Americas Securities LLC now owns 259,180 shares of the auto parts company’s stock worth $9,004,000 after purchasing an additional 174,986 shares during the last quarter. Rice Hall James & Associates LLC acquired a new stake in shares of Standard Motor Products during the 2nd quarter worth about $2,113,000. Manatuck Hill Partners LLC acquired a new stake in shares of Standard Motor Products during the 2nd quarter worth about $4,482,000. Finally, Congruence Capital LLC bought a new position in Standard Motor Products during the 4th quarter valued at about $6,571,000. 81.26% of the stock is currently owned by institutional investors.

Standard Motor Products Stock Performance

Standard Motor Products stock opened at $36.99 on Friday. The stock has a 50-day simple moving average of $38.68 and a 200 day simple moving average of $38.62. The stock has a market capitalization of $826.36 million, a price-to-earnings ratio of 16.51 and a beta of 0.82. The company has a quick ratio of 0.80, a current ratio of 2.00 and a debt-to-equity ratio of 0.73. 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 issued its quarterly earnings data on Tuesday, August 4th. The auto parts company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.01. The firm had revenue of $526.72 million for the quarter, compared to analyst estimates of $511.68 million. Standard Motor Products had a net margin of 2.78% and a return on equity of 13.28%. During the same quarter in the prior year, the firm earned $1.13 EPS. On average, research analysts anticipate that Standard Motor Products, Inc. will post 4.23 earnings per share for the current fiscal year.

Standard Motor Products Dividend Announcement

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

Insider Activity at Standard Motor Products

In other Standard Motor Products news, VP Ray Nicholas sold 5,822 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $39.75, for a total transaction of $231,424.50. Following the transaction, the vice president owned 35,327 shares of the company’s stock, valued at approximately $1,404,248.25. This represents a 14.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Dale Burks sold 5,798 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $39.00, for a total value of $226,122.00. Following the completion of the transaction, the executive vice president owned 47,657 shares in the company, valued at $1,858,623. The trade was a 10.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 26,121 shares of company stock worth $1,018,217 over the last three months. 5.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on SMP shares. Weiss Ratings raised shares of Standard Motor Products from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, July 28th. Zacks Research downgraded Standard Motor Products from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 12th. Finally, Wall Street Zen upgraded Standard Motor Products from a “hold” rating to a “buy” rating in a research report on Sunday, August 16th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $49.00.

Standard Motor Products Company Profile

Standard Motor Products, Inc, headquartered in Long Island City, New York, is a leading manufacturer and distributor of aftermarket and original equipment automotive parts. Since its founding in 1919, the company has focused on engineering, testing, and supplying ignition and temperature management products for passenger cars and light trucks. Its product lineup includes ignition coils, spark plug wires, sensors, switches, heating and air conditioning controls, and related electronic components.

The company operates through two primary segments: Engine Management and Temperature Control.