Texas Permanent School Fund Corp Boosts Stake in Standard Motor Products, Inc. (NYSE:SMP)

Texas Permanent School Fund Corp raised its position in shares of Standard Motor Products, Inc. (NYSE:SMP) by 52.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,996 shares of the auto parts company’s stock after acquiring an additional 8,641 shares during the period. Texas Permanent School Fund Corp owned approximately 0.11% of Standard Motor Products worth $693,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in SMP. Innealta Capital LLC acquired a new position in shares of Standard Motor Products during the second quarter worth about $25,000. Gladius Capital Management LP acquired a new position in shares of Standard Motor Products during the second quarter worth about $30,000. Russell Investments Group Ltd. acquired a new position in shares of Standard Motor Products during the first quarter worth about $205,000. SageView Advisory Group LLC acquired a new position in shares of Standard Motor Products during the first quarter worth about $222,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in shares of Standard Motor Products by 7.6% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,994 shares of the auto parts company’s stock worth $235,000 after purchasing an additional 495 shares in the last quarter. Hedge funds and other institutional investors own 81.26% of the company’s stock.

Standard Motor Products Trading Down 0.8 %

Shares of SMP opened at $34.09 on Friday. The stock’s 50-day moving average is $31.71 and its two-hundred day moving average is $31.14. The stock has a market cap of $743.67 million, a PE ratio of 24.53 and a beta of 0.52. Standard Motor Products, Inc. has a 12 month low of $26.09 and a 12 month 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.

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

Standard Motor Products Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.40%. The ex-dividend date was Thursday, August 15th. Standard Motor Products’s dividend payout ratio (DPR) is 83.45%.

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.