International Assets Investment Management LLC Grows Stock Holdings in Standard Motor Products, Inc. (NYSE:SMP)

International Assets Investment Management LLC boosted its stake in shares of Standard Motor Products, Inc. (NYSE:SMP) by 3,237.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,005 shares of the auto parts company’s stock after buying an additional 3,885 shares during the quarter. International Assets Investment Management LLC’s holdings in Standard Motor Products were worth $121,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Probity Advisors Inc. boosted its stake in shares of Standard Motor Products by 11.3% during the 3rd quarter. Probity Advisors Inc. now owns 9,068 shares of the auto parts company’s stock worth $301,000 after acquiring an additional 922 shares in the last quarter. Creative Planning acquired a new position in Standard Motor Products during the third quarter worth $218,000. Inspire Investing LLC purchased a new stake in Standard Motor Products during the third quarter worth $415,000. Unison Advisors LLC acquired a new stake in Standard Motor Products in the third quarter valued at $710,000. Finally, CWM LLC increased its position in shares of Standard Motor Products by 3.5% in the third quarter. CWM LLC now owns 24,944 shares of the auto parts company’s stock valued at $828,000 after buying an additional 833 shares in the last quarter. 81.26% of the stock is owned by hedge funds and other institutional investors.

Standard Motor Products Price Performance

Shares of NYSE SMP opened at $34.93 on Friday. 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 company’s 50-day moving average price is $31.97 and its 200 day moving average price is $30.98. Standard Motor Products, Inc. has a 52 week low of $26.09 and a 52 week high of $41.71. The stock has a market cap of $758.68 million, a price-to-earnings ratio of 21.56 and a beta of 0.51.

Standard Motor Products (NYSE:SMP) last released 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 company had revenue of $399.27 million during the quarter, compared to analysts’ expectations of $396.10 million. Standard Motor Products had a return on equity of 10.42% and a net margin of 2.56%. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.11 earnings per share. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend is Friday, November 15th. Standard Motor Products’s dividend payout ratio (DPR) is 71.61%.

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.