Eagle Asset Management Inc. reduced its stake in shares of Standard Motor Products, Inc. (NYSE:SMP - Free Report) by 41.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,395 shares of the auto parts company's stock after selling 49,489 shares during the quarter. Eagle Asset Management Inc. owned 0.32% of Standard Motor Products worth $2,427,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the stock. Innealta Capital LLC acquired a new stake in shares of Standard Motor Products during the 2nd quarter worth approximately $25,000. Gladius Capital Management LP acquired a new position in shares of Standard Motor Products in the 2nd quarter worth approximately $30,000. GAMMA Investing LLC grew its position in Standard Motor Products by 153.8% during the 3rd quarter. GAMMA Investing LLC now owns 906 shares of the auto parts company's stock worth $30,000 after acquiring an additional 549 shares during the last quarter. Farther Finance Advisors LLC acquired a new stake in Standard Motor Products during the 3rd quarter valued at $73,000. Finally, Central Pacific Bank Trust Division bought a new position in Standard Motor Products in the 3rd quarter valued at $83,000. 81.26% of the stock is owned by institutional investors.
Standard Motor Products Price Performance
Shares of NYSE:SMP traded down $0.54 during midday trading on Tuesday, reaching $32.68. The company's stock had a trading volume of 112,818 shares, compared to its average volume of 155,023. The business's fifty day simple moving average is $32.25 and its 200-day simple moving average is $31.02. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.25 and a quick ratio of 0.82. Standard Motor Products, Inc. has a fifty-two week low of $26.09 and a fifty-two week high of $41.71. The company has a market capitalization of $709.87 million, a P/E ratio of 20.03 and a beta of 0.51.
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 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.19. Standard Motor Products had a net margin of 2.56% and a return on equity of 10.42%. The firm had revenue of $399.27 million during the quarter, compared to analysts' expectations of $396.10 million. During the same quarter last year, the company posted $1.11 EPS. The company's quarterly revenue was up 3.3% compared to the same quarter last year. As a group, equities research analysts expect that Standard Motor Products, Inc. will post 3.05 EPS for the current fiscal year.
Standard Motor Products Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.55%. The ex-dividend date is Friday, November 15th. Standard Motor Products's dividend payout ratio (DPR) is presently 71.60%.
Insiders Place Their Bets
In related news, EVP Dale Burks sold 1,722 shares of the company's stock in a transaction dated 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 sale, the executive vice president now owns 67,865 shares in the company, 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 document filed with the SEC, which can be accessed through this link. Also, insider Carmine Joseph Broccole sold 913 shares of the business's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $34.96, for a total value of $31,918.48. Following the transaction, the insider now owns 81,241 shares of the company's stock, valued at $2,840,185.36. The trade was a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,454 shares of company stock valued at $225,701. 5.00% of the stock is currently owned by corporate insiders.
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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