Raymond James Financial Inc. Makes New Investment in Standard Motor Products, Inc. (NYSE:SMP)

Raymond James Financial Inc. bought a new stake in Standard Motor Products, Inc. (NYSE:SMP - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 87,482 shares of the auto parts company's stock, valued at approximately $2,710,000. Raymond James Financial Inc. owned about 0.40% of Standard Motor Products at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its stake in Standard Motor Products by 147.2% during the fourth quarter. Versant Capital Management Inc now owns 1,031 shares of the auto parts company's stock worth $32,000 after buying an additional 614 shares during the period. FMR LLC lifted its holdings in shares of Standard Motor Products by 64.6% during the 3rd quarter. FMR LLC now owns 1,745 shares of the auto parts company's stock valued at $58,000 after acquiring an additional 685 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in Standard Motor Products by 5.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 9,421 shares of the auto parts company's stock worth $292,000 after purchasing an additional 446 shares during the period. Illinois Municipal Retirement Fund increased its holdings in Standard Motor Products by 6.1% in the 4th quarter. Illinois Municipal Retirement Fund now owns 10,467 shares of the auto parts company's stock valued at $324,000 after purchasing an additional 600 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Standard Motor Products in the third quarter valued at about $382,000. Hedge funds and other institutional investors own 81.26% of the company's stock.

Remove Ads

Standard Motor Products Stock Down 0.0 %

NYSE:SMP traded down $0.01 during trading hours on Monday, hitting $24.91. The stock had a trading volume of 218,030 shares, compared to its average volume of 154,585. The company has a market cap of $544.60 million, a PE ratio of 15.38 and a beta of 0.50. The business has a 50 day simple moving average of $29.20 and a two-hundred day simple moving average of $31.09. Standard Motor Products, Inc. has a 1-year low of $24.40 and a 1-year high of $35.92. The company has a current ratio of 2.25, a quick ratio of 0.82 and a debt-to-equity ratio of 0.21.

Standard Motor Products (NYSE:SMP - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The auto parts company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.10. The firm had revenue of $343.35 million for the quarter, compared to the consensus estimate of $292.50 million. Standard Motor Products had a net margin of 2.56% and a return on equity of 10.42%. Analysts predict that Standard Motor Products, Inc. will post 3.08 EPS for the current year.

Standard Motor Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 4.66%. The ex-dividend date was Friday, February 14th. Standard Motor Products's dividend payout ratio is currently 100.81%.

Insider Buying and Selling at Standard Motor Products

In other Standard Motor Products news, EVP Dale Burks sold 11,005 shares of the firm's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $27.20, for a total transaction of $299,336.00. Following the completion of the transaction, the executive vice president now directly owns 56,860 shares of the company's stock, valued at $1,546,592. This trade represents a 16.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Standard Motor Products from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 3rd.

Standard Motor Products Profile

Standard Motor Products, Inc manufactures and distributes replacement automotive parts in the United States and internationally. The company operates through three segments: Vehicle Control, Temperature Control, and Engineered Solutions segments. The company provides components for the ignition, emissions, and fuel delivery systems, such as air injection and induction components, air management valves, regulators and solenoids, exhaust gas recirculation components, fuel injectors and related components, fuel valves, ignition coils, connectors and sockets, modules, pumps, relays and fuses, starting and charging system parts, and vapor and purge components.