5,190 Shares in Standard Motor Products, Inc. (NYSE:SMP) Purchased by International Assets Investment Management LLC

Posted by Defense World Staff on Apr 15th, 2023

International Assets Investment Management LLC purchased a new position in shares of Standard Motor Products, Inc. (NYSE:SMP – Get Rating) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,190 shares of the auto parts company’s stock, valued at approximately $334,000.

Several other hedge funds have also recently modified their holdings of the stock. BlackRock Inc. raised its position in shares of Standard Motor Products by 1.1% during the 1st quarter. BlackRock Inc. now owns 3,271,994 shares of the auto parts company’s stock worth $141,153,000 after purchasing an additional 37,157 shares during the last quarter. Royce & Associates LP raised its position in shares of Standard Motor Products by 1.6% during the 3rd quarter. Royce & Associates LP now owns 1,472,870 shares of the auto parts company’s stock worth $47,868,000 after purchasing an additional 22,642 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Standard Motor Products by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 1,385,563 shares of the auto parts company’s stock worth $59,773,000 after purchasing an additional 37,724 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Standard Motor Products by 2.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,299,367 shares of the auto parts company’s stock worth $42,229,000 after purchasing an additional 36,855 shares during the last quarter. Finally, State Street Corp raised its position in shares of Standard Motor Products by 0.6% during the 2nd quarter. State Street Corp now owns 800,519 shares of the auto parts company’s stock worth $36,015,000 after purchasing an additional 4,518 shares during the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

Standard Motor Products Stock Down 0.7 %

SMP stock opened at $36.23 on Friday. The company has a market cap of $782.21 million, a price-to-earnings ratio of 14.55 and a beta of 0.56. The company has a current ratio of 2.36, a quick ratio of 0.72 and a debt-to-equity ratio of 0.30. Standard Motor Products, Inc. has a 12 month low of $31.61 and a 12 month high of $48.24. The firm has a 50-day moving average of $37.84 and a two-hundred day moving average of $37.11.

Standard Motor Products (NYSE:SMP – Get Rating) last announced its quarterly 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 business had revenue of $308.20 million during the quarter, compared to the consensus estimate of $322.49 million. Standard Motor Products had a net margin of 4.03% and a return on equity of 12.87%. The business’s revenue was down .5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.90 EPS. As a group, analysts forecast that Standard Motor Products, Inc. will post 3.56 earnings per share for the current fiscal year.

Standard Motor Products Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 1st. Stockholders of record on Wednesday, February 15th were issued a dividend of $0.29 per share. The ex-dividend date was Tuesday, February 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.20%. This is an increase from Standard Motor Products’s previous quarterly dividend of $0.27. Standard Motor Products’s dividend payout ratio (DPR) is currently 46.59%.

Wall Street Analyst Weigh In

A number of analysts have commented on SMP shares. StockNews.com started coverage on shares of Standard Motor Products in a report on Thursday, March 16th. They issued a “buy” rating for the company. TheStreet upgraded shares of Standard Motor Products from a “c+” rating to a “b-” rating in a report on Tuesday, February 7th. Finally, Roth Capital reiterated a “buy” rating on shares of Standard Motor Products in a report on Wednesday, February 22nd.

Insider Transactions at Standard Motor Products

In other news, EVP Dale Burks sold 3,530 shares of the firm’s stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $38.40, for a total transaction of $135,552.00. Following the completion of the sale, the executive vice president now owns 48,219 shares in the company, valued at approximately $1,851,609.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Thomas Tesoro sold 1,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now owns 17,566 shares of the company’s stock, valued at approximately $678,398.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dale Burks sold 3,530 shares of the stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $38.40, for a total transaction of $135,552.00. Following the transaction, the executive vice president now directly owns 48,219 shares of the company’s stock, valued at approximately $1,851,609.60. The disclosure for this sale can be found here. Insiders own 6.60% of the company’s stock.

Standard Motor Products Profile

(Get Rating)

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.