Invenomic Capital Management LP reduced its position in Standard Motor Products, Inc. (NYSE:SMP - Free Report) by 16.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 105,381 shares of the auto parts company's stock after selling 20,361 shares during the quarter. Invenomic Capital Management LP owned about 0.49% of Standard Motor Products worth $3,499,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SMP. Innealta Capital LLC acquired a new position in Standard Motor Products in the second quarter valued at approximately $25,000. Gladius Capital Management LP acquired a new position in shares of Standard Motor Products in the 2nd quarter valued at $30,000. GAMMA Investing LLC lifted its stake in shares of Standard Motor Products by 153.8% in the 3rd quarter. GAMMA Investing LLC now owns 906 shares of the auto parts company's stock valued at $30,000 after purchasing an additional 549 shares during the last quarter. FMR LLC grew 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 worth $58,000 after purchasing an additional 685 shares during the period. Finally, Farther Finance Advisors LLC acquired a new stake in shares of Standard Motor Products during the 3rd quarter worth about $73,000. Hedge funds and other institutional investors own 81.26% of the company's stock.
Insider Buying and Selling
In related news, EVP Dale Burks sold 1,722 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 67,865 shares of the company's stock, valued at $2,372,560.40. This represents a 2.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Nathan R. Iles sold 1,485 shares of the firm's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $34.97, for a total transaction of $51,930.45. Following the sale, the chief financial officer now directly owns 29,015 shares in the company, valued at approximately $1,014,654.55. The trade was a 4.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,454 shares of company stock worth $225,701 over the last 90 days. 5.00% of the stock is owned by insiders.
Standard Motor Products Trading Up 0.6 %
NYSE SMP traded up $0.20 on Wednesday, reaching $33.36. The stock had a trading volume of 30,497 shares, compared to its average volume of 153,338. The company has a quick ratio of 0.82, a current ratio of 2.25 and a debt-to-equity ratio of 0.21. The stock has a fifty day moving average price of $32.18 and a two-hundred day moving average price of $31.06. Standard Motor Products, Inc. has a 12-month low of $26.09 and a 12-month high of $41.71. The firm has a market capitalization of $724.65 million, a price-to-earnings ratio of 20.47 and a beta of 0.52.
Standard Motor Products (NYSE:SMP - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The auto parts company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.09 by $0.19. The business had revenue of $399.27 million during the quarter, compared to analyst estimates of $396.10 million. Standard Motor Products had a net margin of 2.56% and a return on equity of 10.42%. The business's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.11 earnings per share. As a group, sell-side analysts forecast that Standard Motor Products, Inc. will post 3.08 EPS for the current fiscal year.
Standard Motor Products Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 15th were issued a $0.29 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.16 annualized dividend and a yield of 3.48%. Standard Motor Products's dividend payout ratio (DPR) is 71.60%.
About Standard Motor Products
(
Free Report)
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.
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