Charles Schwab Investment Management Inc. Trims Position in Standard Motor Products, Inc. (NYSE:SMP)

Charles Schwab Investment Management Inc. cut its holdings in shares of Standard Motor Products, Inc. (NYSE:SMP - Free Report) by 10.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 292,512 shares of the auto parts company's stock after selling 33,436 shares during the period. Charles Schwab Investment Management Inc. owned 1.35% of Standard Motor Products worth $9,711,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SMP. Azarias Capital Management L.P. purchased a new position in Standard Motor Products during the 2nd quarter valued at $11,197,000. Royce & Associates LP boosted its stake in shares of Standard Motor Products by 6.0% during the 3rd quarter. Royce & Associates LP now owns 1,295,997 shares of the auto parts company's stock valued at $43,027,000 after purchasing an additional 73,476 shares in the last quarter. American Century Companies Inc. increased its position in shares of Standard Motor Products by 19.5% during the second quarter. American Century Companies Inc. now owns 338,931 shares of the auto parts company's stock valued at $9,399,000 after buying an additional 55,327 shares during the period. Bank of Montreal Can bought a new position in Standard Motor Products in the second quarter worth about $1,029,000. Finally, Rice Hall James & Associates LLC lifted its holdings in Standard Motor Products by 47.1% in the third quarter. Rice Hall James & Associates LLC now owns 99,345 shares of the auto parts company's stock worth $3,298,000 after buying an additional 31,826 shares during the period. Institutional investors own 81.26% of the company's stock.

Insider Activity at Standard Motor Products

In other news, EVP Dale Burks sold 1,722 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $34.96, for a total value of $60,201.12. Following the sale, the executive vice president now directly owns 67,865 shares of the company's stock, valued at approximately $2,372,560.40. This represents a 2.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Nathan R. Iles sold 1,485 shares of the firm's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $34.97, for a total value of $51,930.45. Following the transaction, the chief financial officer now owns 29,015 shares of the company's stock, valued at $1,014,654.55. The trade was a 4.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,454 shares of company stock valued at $225,701 in the last three months. Company insiders own 5.00% of the company's stock.

Standard Motor Products Stock Up 1.0 %

Standard Motor Products stock traded up $0.34 during trading hours on Tuesday, hitting $34.30. 46,698 shares of the stock traded hands, compared to its average volume of 152,425. Standard Motor Products, Inc. has a one year low of $26.09 and a one year high of $41.71. The firm's 50-day moving average price is $32.23 and its two-hundred day moving average price is $31.14. The company has a current ratio of 2.25, a quick ratio of 0.82 and a debt-to-equity ratio of 0.21. The company has a market cap of $745.00 million, a PE ratio of 20.96 and a beta of 0.52.

Standard Motor Products (NYSE:SMP - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The auto parts company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.19. The company had revenue of $399.27 million for the quarter, compared to analyst estimates of $396.10 million. Standard Motor Products had a return on equity of 10.42% and a net margin of 2.56%. The firm's revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.11 earnings per share. On average, research analysts forecast that Standard Motor Products, Inc. will post 3.08 EPS for the current year.

Standard Motor Products Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 15th were paid a $0.29 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.16 annualized dividend and a dividend yield of 3.38%. Standard Motor Products's payout ratio is 71.61%.

Standard Motor Products Company 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.