Rhumbline Advisers Acquires 16,330 Shares of Standard Motor Products, Inc. (NYSE:SMP)

Rhumbline Advisers lifted its stake in shares of Standard Motor Products, Inc. (NYSE:SMP - Free Report) by 15.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,917 shares of the auto parts company's stock after purchasing an additional 16,330 shares during the quarter. Rhumbline Advisers owned about 0.55% of Standard Motor Products worth $3,684,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Geode Capital Management LLC raised its holdings in Standard Motor Products by 5.9% during the third quarter. Geode Capital Management LLC now owns 485,299 shares of the auto parts company's stock worth $16,115,000 after buying an additional 27,210 shares during the last quarter. State Street Corp increased its holdings in Standard Motor Products by 2.6% during the third quarter. State Street Corp now owns 783,593 shares of the auto parts company's stock worth $26,015,000 after buying an additional 19,652 shares during the last quarter. Franklin Resources Inc. bought a new stake in Standard Motor Products in the third quarter worth about $3,876,000. Intech Investment Management LLC boosted its stake in Standard Motor Products by 274.6% in the third quarter. Intech Investment Management LLC now owns 37,119 shares of the auto parts company's stock valued at $1,232,000 after acquiring an additional 27,210 shares during the last quarter. Finally, Rice Hall James & Associates LLC grew its position in shares of Standard Motor Products by 47.1% during the 3rd quarter. Rice Hall James & Associates LLC now owns 99,345 shares of the auto parts company's stock valued at $3,298,000 after acquiring an additional 31,826 shares during the period. 81.26% of the stock is currently owned by institutional investors and hedge funds.

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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.

Insider Activity

In other news, VP Ray Nicholas sold 4,730 shares of the business's stock in a transaction on Monday, December 9th. The shares were sold at an average price of $34.11, for a total transaction of $161,340.30. Following the completion of the transaction, the vice president now directly owns 46,385 shares in the company, valued at $1,582,192.35. The trade was a 9.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 5.00% of the company's stock.

Standard Motor Products Stock Performance

Shares of NYSE SMP traded up $0.04 during midday trading on Tuesday, hitting $28.06. The company's stock had a trading volume of 82,875 shares, compared to its average volume of 111,324. The firm has a market capitalization of $609.52 million, a price-to-earnings ratio of 17.34 and a beta of 0.52. 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 stock has a fifty day moving average price of $30.80 and a 200 day moving average price of $31.77. Standard Motor Products, Inc. has a one year low of $26.09 and a one year high of $35.92.

Standard Motor Products (NYSE:SMP - Get Free Report) last issued its earnings results on Thursday, February 27th. The auto parts company reported $0.47 earnings per share (EPS) 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. On average, research analysts forecast that Standard Motor Products, Inc. will post 3.08 EPS for the current fiscal year.

Standard Motor Products Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date was Friday, February 14th. Standard Motor Products's payout ratio is presently 100.81%.

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.