Standard Motor Products, Inc. (NYSE:SMP) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lowered its stake in Standard Motor Products, Inc. (NYSE:SMP - Free Report) by 15.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 246,291 shares of the auto parts company's stock after selling 46,221 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.13% of Standard Motor Products worth $7,630,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Thrivent Financial for Lutherans lifted its position in shares of Standard Motor Products by 4.0% in the third quarter. Thrivent Financial for Lutherans now owns 16,198 shares of the auto parts company's stock worth $538,000 after buying an additional 624 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Standard Motor Products in the 3rd quarter worth approximately $382,000. Intech Investment Management LLC raised its holdings in shares of Standard Motor Products by 274.6% during the 3rd quarter. Intech Investment Management LLC now owns 37,119 shares of the auto parts company's stock worth $1,232,000 after acquiring an additional 27,210 shares in the last quarter. FMR LLC boosted its position 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 during the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of Standard Motor Products by 129.1% in the third quarter. BNP Paribas Financial Markets now owns 19,721 shares of the auto parts company's stock valued at $655,000 after purchasing an additional 11,114 shares in the last quarter. Institutional investors own 81.26% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

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

Insider Transactions 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 dated Tuesday, March 11th. The shares were sold at an average price of $27.20, for a total transaction of $299,336.00. Following the transaction, the executive vice president now owns 56,860 shares of the company's stock, valued at approximately $1,546,592. This trade represents a 16.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 5.00% of the company's stock.

Standard Motor Products Trading Up 1.0 %

SMP traded up $0.25 on Wednesday, hitting $25.96. The company had a trading volume of 176,982 shares, compared to its average volume of 146,292. The business's fifty day simple moving average is $29.44 and its 200 day simple moving average is $31.19. The company has a quick ratio of 0.82, a current ratio of 2.25 and a debt-to-equity ratio of 0.21. Standard Motor Products, Inc. has a 12-month low of $25.56 and a 12-month high of $35.92. The company has a market cap of $567.54 million, a PE ratio of 16.02 and a beta of 0.50.

Standard Motor Products (NYSE:SMP - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The auto parts company reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.10. Standard Motor Products had a net margin of 2.56% and a return on equity of 10.42%. The business had revenue of $343.35 million for the quarter, compared to analysts' expectations of $292.50 million. Equities research analysts expect that Standard Motor Products, Inc. will post 3.08 EPS for the current year.

Standard Motor Products Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a $0.29 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a yield of 4.47%. Standard Motor Products's payout ratio is 100.81%.

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.