Axa S.A. lowered its stake in Standard Motor Products, Inc. (NYSE:SMP – Get Rating) by 51.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,574 shares of the auto parts company’s stock after selling 23,126 shares during the period. Axa S.A. owned approximately 0.10% of Standard Motor Products worth $701,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in SMP. Envestnet Asset Management Inc. raised its stake in shares of Standard Motor Products by 17.4% during the first quarter. Envestnet Asset Management Inc. now owns 7,983 shares of the auto parts company’s stock valued at $344,000 after acquiring an additional 1,185 shares in the last quarter. Raymond James & Associates grew its holdings in shares of Standard Motor Products by 12.4% during the first quarter. Raymond James & Associates now owns 50,840 shares of the auto parts company’s stock valued at $2,193,000 after buying an additional 5,610 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Standard Motor Products by 2.0% in the first quarter. Bank of New York Mellon Corp now owns 261,309 shares of the auto parts company’s stock valued at $11,273,000 after purchasing an additional 5,202 shares during the last quarter. Citigroup Inc. boosted its holdings in Standard Motor Products by 3.5% in the first quarter. Citigroup Inc. now owns 17,420 shares of the auto parts company’s stock valued at $751,000 after purchasing an additional 586 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its holdings in Standard Motor Products by 56.5% in the first quarter. MetLife Investment Management LLC now owns 10,831 shares of the auto parts company’s stock valued at $467,000 after purchasing an additional 3,910 shares during the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.
Insider Buying and Selling
In other Standard Motor Products news, insider Thomas Tesoro sold 1,000 shares of the firm’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $38.62, for a total transaction of $38,620.00. Following the transaction, the insider now directly owns 17,566 shares of the company’s stock, valued at approximately $678,398.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.60% of the stock is owned by company insiders.
Standard Motor Products Stock Performance
Standard Motor Products (NYSE:SMP – Get Rating) last released its earnings results on Wednesday, February 22nd. The auto parts company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.17. The company had revenue of $308.20 million for the quarter, compared to analyst estimates of $322.49 million. Standard Motor Products had a net margin of 4.03% and a return on equity of 12.87%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the business earned $0.90 EPS. Equities research analysts forecast that Standard Motor Products, Inc. will post 3.69 EPS for the current year.
Standard Motor Products Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 1st. Investors of record on Wednesday, February 15th will be paid a dividend of $0.29 per share. This is a positive change from Standard Motor Products’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a yield of 2.98%. The ex-dividend date is Tuesday, February 14th. Standard Motor Products’s dividend payout ratio (DPR) is currently 46.59%.
Wall Street Analyst Weigh In
SMP has been the subject of several research analyst reports. TheStreet upgraded shares of Standard Motor Products from a “c+” rating to a “b-” rating in a research report on Tuesday, February 7th. StockNews.com upgraded shares of Standard Motor Products from a “hold” rating to a “buy” rating in a report on Monday, February 6th. Finally, Roth Capital reiterated a “buy” rating on shares of Standard Motor Products in a report on Wednesday, February 22nd.
Standard Motor Products Profile
Standard Motor Products, Inc engages in the manufacture, distribution, and market of replacement parts for motor vehicles in the automotive aftermarket industry. It operates through the following segments: Engine Management, Temperature Control, and All Other. The Engine Management segment produces and remanufactures ignition and emission parts, ignition wires, battery cables, fuel system parts and sensors for vehicle systems.
Read More
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