87,482 Shares in Standard Motor Products, Inc. (NYSE:SMP) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new stake in Standard Motor Products, Inc. (NYSE:SMP) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 87,482 shares of the auto parts company’s stock, valued at approximately $2,710,000. Raymond James Financial Inc. owned about 0.40% of Standard Motor Products at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Franklin Resources Inc. bought a new position in Standard Motor Products in the 3rd quarter valued at $3,876,000. Bank of New York Mellon Corp grew its holdings in Standard Motor Products by 26.7% in the fourth quarter. Bank of New York Mellon Corp now owns 331,078 shares of the auto parts company’s stock worth $10,257,000 after purchasing an additional 69,717 shares during the last quarter. Barclays PLC increased its position in shares of Standard Motor Products by 359.9% during the third quarter. Barclays PLC now owns 48,522 shares of the auto parts company’s stock worth $1,609,000 after purchasing an additional 37,971 shares in the last quarter. Geode Capital Management LLC raised its stake in Standard Motor Products by 5.9% in the third quarter. Geode Capital Management LLC now owns 485,299 shares of the auto parts company’s stock valued at $16,115,000 after buying an additional 27,210 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in Standard Motor Products in the 4th quarter worth approximately $753,000. Institutional investors own 81.26% of the company’s stock.

Standard Motor Products Stock Performance

Shares of NYSE SMP opened at $24.90 on Friday. Standard Motor Products, Inc. has a 1 year low of $24.50 and a 1 year high of $35.92. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.82 and a current ratio of 2.25. The company has a market capitalization of $544.39 million, a PE ratio of 15.37 and a beta of 0.50. The company’s fifty day moving average price is $29.20 and its 200 day moving average price is $31.10.

Standard Motor Products (NYSE:SMP) last issued its quarterly earnings results on Thursday, February 27th. The auto parts company reported $0.47 earnings per share 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 firm had revenue of $343.35 million for the quarter, compared to analyst estimates of $292.50 million. On average, research analysts predict that Standard Motor Products, Inc. will post 3.08 earnings per share for the current year.

Standard Motor Products Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 4.66%. The ex-dividend date of this dividend was Friday, February 14th. Standard Motor Products’s payout ratio is presently 100.81%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Standard Motor Products from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd.

Insiders Place Their Bets

In other Standard Motor Products news, EVP Dale Burks sold 11,005 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $27.20, for a total transaction of $299,336.00. Following the sale, the executive vice president now directly owns 56,860 shares in the company, valued at $1,546,592. This represents a 16.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.00% of the stock is currently owned by insiders.

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.