Geode Capital Management LLC Has $16.12 Million Position in Standard Motor Products, Inc. (NYSE:SMP)

Geode Capital Management LLC boosted its holdings in Standard Motor Products, Inc. (NYSE:SMP) by 5.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 485,299 shares of the auto parts company’s stock after acquiring an additional 27,210 shares during the quarter. Geode Capital Management LLC owned 2.23% of Standard Motor Products worth $16,115,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in Standard Motor Products by 1.6% during the second quarter. Bank of New York Mellon Corp now owns 271,823 shares of the auto parts company’s stock worth $7,538,000 after acquiring an additional 4,391 shares in the last quarter. Innealta Capital LLC bought a new stake in shares of Standard Motor Products in the 2nd quarter worth about $25,000. Foundry Partners LLC increased its position in shares of Standard Motor Products by 11.8% during the 2nd quarter. Foundry Partners LLC now owns 154,845 shares of the auto parts company’s stock worth $4,294,000 after purchasing an additional 16,325 shares in the last quarter. Texas Permanent School Fund Corp lifted its holdings in Standard Motor Products by 52.8% during the 2nd quarter. Texas Permanent School Fund Corp now owns 24,996 shares of the auto parts company’s stock valued at $693,000 after purchasing an additional 8,641 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in Standard Motor Products by 19.5% in the second quarter. American Century Companies Inc. now owns 338,931 shares of the auto parts company’s stock valued at $9,399,000 after buying an additional 55,327 shares in the last quarter. Institutional investors and hedge funds own 81.26% of the company’s stock.

Standard Motor Products Stock Performance

NYSE SMP opened at $31.01 on Monday. Standard Motor Products, Inc. has a 1-year low of $26.09 and a 1-year high of $41.71. The company has a 50 day moving average of $32.44 and a 200-day moving average of $31.35. 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 firm has a market cap of $673.60 million, a price-to-earnings ratio of 19.14 and a beta of 0.52.

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, beating analysts’ consensus estimates of $1.09 by $0.19. The firm 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 was up 3.3% on a year-over-year basis. During the same period last year, the firm posted $1.11 EPS. On average, equities analysts forecast that Standard Motor Products, Inc. will post 3.08 earnings per share for the current fiscal year.

Standard Motor Products Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date was Friday, November 15th. Standard Motor Products’s dividend payout ratio is presently 71.60%.

Insider Buying and Selling

In related news, VP Ray Nicholas sold 4,730 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $34.11, for a total value of $161,340.30. Following the transaction, the vice president now directly owns 46,385 shares in the company, valued at $1,582,192.35. This represents a 9.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Eric Sills sold 1,721 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $34.97, for a total transaction of $60,183.37. Following the sale, the chief executive officer now owns 175,651 shares of the company’s stock, valued at $6,142,515.47. The trade was a 0.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,184 shares of company stock worth $387,041 in the last quarter. Insiders own 5.00% of the company’s stock.

About Standard Motor Products

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.