International Assets Investment Management LLC Raises Stake in Standard Motor Products, Inc. (NYSE:SMP)

International Assets Investment Management LLC lifted its position in shares of Standard Motor Products, Inc. (NYSE:SMP) by 3,928.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,673 shares of the auto parts company’s stock after buying an additional 4,557 shares during the quarter. International Assets Investment Management LLC’s holdings in Standard Motor Products were worth $186,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SMP. Pacer Advisors Inc. purchased a new stake in shares of Standard Motor Products during the fourth quarter worth about $38,215,000. Invesco Ltd. boosted its position in shares of Standard Motor Products by 73.4% in the third quarter. Invesco Ltd. now owns 216,723 shares of the auto parts company’s stock worth $7,286,000 after acquiring an additional 91,730 shares during the last quarter. Rice Hall James & Associates LLC acquired a new stake in shares of Standard Motor Products in the third quarter worth approximately $2,536,000. Assenagon Asset Management S.A. boosted its position in shares of Standard Motor Products by 76.0% in the third quarter. Assenagon Asset Management S.A. now owns 173,691 shares of the auto parts company’s stock worth $5,839,000 after acquiring an additional 74,989 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Standard Motor Products by 98.4% in the third quarter. AQR Capital Management LLC now owns 149,067 shares of the auto parts company’s stock worth $5,012,000 after acquiring an additional 73,937 shares during the last quarter. 81.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on SMP shares. StockNews.com raised shares of Standard Motor Products from a “hold” rating to a “buy” rating in a research report on Friday, March 29th. TheStreet cut shares of Standard Motor Products from a “b” rating to a “c+” rating in a research report on Thursday, February 22nd.

Standard Motor Products Trading Up 0.6 %

Shares of SMP stock opened at $32.46 on Monday. The stock has a market cap of $732.95 million, a price-to-earnings ratio of 21.08 and a beta of 0.61. The company has a quick ratio of 0.78, a current ratio of 2.45 and a debt-to-equity ratio of 0.23. Standard Motor Products, Inc. has a fifty-two week low of $30.09 and a fifty-two week high of $41.71. The firm’s 50 day moving average price is $32.84 and its two-hundred day moving average price is $35.90.

Standard Motor Products (NYSE:SMP) last announced its quarterly earnings results on Thursday, February 22nd. The auto parts company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.25). The business had revenue of $290.76 million for the quarter, compared to analyst estimates of $313.84 million. Standard Motor Products had a net margin of 2.51% and a return on equity of 10.09%. On average, analysts anticipate that Standard Motor Products, Inc. will post 3.03 EPS for the current year.

Standard Motor Products Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Thursday, February 15th were given a dividend of $0.29 per share. The ex-dividend date was Wednesday, February 14th. This represents a $1.16 dividend on an annualized basis and a yield of 3.57%. Standard Motor Products’s dividend payout ratio (DPR) is 75.32%.

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.