Cornercap Investment Counsel Inc. Cuts Position in Standard Motor Products, Inc. (NYSE:SMP)

Cornercap Investment Counsel Inc. lessened its holdings in shares of Standard Motor Products, Inc. (NYSE:SMP - Free Report) by 64.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,154 shares of the auto parts company's stock after selling 30,871 shares during the period. Cornercap Investment Counsel Inc. owned 0.08% of Standard Motor Products worth $570,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Azarias Capital Management L.P. purchased a new stake in Standard Motor Products in the second quarter valued at $11,197,000. American Century Companies Inc. lifted its holdings in shares of Standard Motor Products by 19.5% in the 2nd quarter. American Century Companies Inc. now owns 338,931 shares of the auto parts company's stock valued at $9,399,000 after purchasing an additional 55,327 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Standard Motor Products by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 1,442,712 shares of the auto parts company's stock valued at $48,403,000 after purchasing an additional 49,905 shares during the period. Bank of Montreal Can purchased a new position in Standard Motor Products during the 2nd quarter worth approximately $1,029,000. Finally, Rice Hall James & Associates LLC increased its position in Standard Motor Products by 47.1% during 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. Hedge funds and other institutional investors own 81.26% of the company's stock.

Insider Activity at Standard Motor Products

In other Standard Motor Products news, CFO Nathan R. Iles sold 1,485 shares of the business'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 directly owns 29,015 shares of the company's stock, valued at approximately $1,014,654.55. The trade was a 4.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Dale Burks sold 1,722 shares of the firm's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $34.96, for a total transaction of $60,201.12. Following the completion of the sale, the executive vice president now owns 67,865 shares of the company's stock, valued at $2,372,560.40. This trade represents a 2.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,454 shares of company stock worth $225,701 in the last quarter. Company insiders own 5.00% of the company's stock.

Standard Motor Products Stock Performance

Shares of SMP stock traded down $0.52 during trading hours on Friday, hitting $33.17. The stock had a trading volume of 131,899 shares, compared to its average volume of 155,881. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.25 and a quick ratio of 0.82. The firm has a market capitalization of $720.45 million, a PE ratio of 20.48 and a beta of 0.51. The stock's 50 day moving average is $32.24 and its 200 day moving average is $31.03. Standard Motor Products, Inc. has a twelve month low of $26.09 and a twelve month high of $41.71.

Standard Motor Products (NYSE:SMP - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The auto parts company reported $1.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.09 by $0.19. The firm had revenue of $399.27 million during the quarter, compared to analysts' expectations of $396.10 million. Standard Motor Products had a net margin of 2.56% and a return on equity of 10.42%. Standard Motor Products's quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.11 EPS. As a group, research analysts forecast that Standard Motor Products, Inc. will post 3.03 earnings per share for the current fiscal year.

Standard Motor Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend is Friday, November 15th. Standard Motor Products's dividend payout ratio is currently 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.