Standard Motor Products, Inc. (NYSE:SMP) Shares Sold by Rhumbline Advisers

Rhumbline Advisers lowered its position in shares of Standard Motor Products, Inc. (NYSE:SMP) by 1.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 86,242 shares of the auto parts company’s stock after selling 1,548 shares during the quarter. Rhumbline Advisers owned approximately 0.40% of Standard Motor Products worth $2,391,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Azarias Capital Management L.P. acquired a new stake in shares of Standard Motor Products in the second quarter worth approximately $11,197,000. Vanguard Group Inc. boosted its stake in Standard Motor Products by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 1,442,712 shares of the auto parts company’s stock worth $48,403,000 after purchasing an additional 49,905 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Standard Motor Products by 2.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,492,360 shares of the auto parts company’s stock worth $59,411,000 after buying an additional 31,688 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Standard Motor Products by 35.6% during the first quarter. Empowered Funds LLC now owns 92,783 shares of the auto parts company’s stock worth $3,113,000 after buying an additional 24,364 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Standard Motor Products by 3.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 361,255 shares of the auto parts company’s stock valued at $14,382,000 after buying an additional 13,101 shares during the last quarter. Institutional investors and hedge funds own 81.26% of the company’s stock.

Standard Motor Products Price Performance

SMP stock opened at $33.36 on Thursday. Standard Motor Products, Inc. has a 1 year low of $26.09 and a 1 year high of $41.71. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.46 and a quick ratio of 0.93. The firm has a market capitalization of $727.75 million, a PE ratio of 24.00 and a beta of 0.52. The business has a 50 day simple moving average of $31.38 and a 200-day simple moving average of $31.07.

Standard Motor Products (NYSE:SMP) last released its quarterly earnings data on Thursday, August 1st. The auto parts company reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.20. Standard Motor Products had a return on equity of 9.90% and a net margin of 2.79%. The company had revenue of $389.80 million for the quarter, compared to analyst estimates of $365.60 million. During the same quarter in the previous year, the company posted $0.84 earnings per share. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. Equities research analysts anticipate that Standard Motor Products, Inc. will post 3.01 earnings per share for the current fiscal year.

Standard Motor Products Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date was Thursday, August 15th. Standard Motor Products’s dividend payout ratio is currently 83.45%.

Analyst Upgrades and Downgrades

Separately, Roth Mkm restated a “buy” rating and set a $42.00 price target on shares of Standard Motor Products in a research report on Thursday, May 23rd.

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.