Geode Capital Management LLC Boosts Holdings in Standard Motor Products, Inc. (NYSE:SMP)

Geode Capital Management LLC increased its holdings in Standard Motor Products, Inc. (NYSE:SMP) by 1.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 494,489 shares of the auto parts company’s stock after purchasing an additional 9,190 shares during the period. Geode Capital Management LLC owned approximately 2.28% of Standard Motor Products worth $15,323,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Versant Capital Management Inc boosted its position in Standard Motor Products by 147.2% during the fourth quarter. Versant Capital Management Inc now owns 1,031 shares of the auto parts company’s stock valued at $32,000 after buying an additional 614 shares during the period. FMR LLC lifted its stake in shares of Standard Motor Products by 64.6% in the 3rd quarter. FMR LLC now owns 1,745 shares of the auto parts company’s stock valued at $58,000 after acquiring an additional 685 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Standard Motor Products by 20.6% in the 4th quarter. Farther Finance Advisors LLC now owns 2,651 shares of the auto parts company’s stock valued at $82,000 after acquiring an additional 453 shares during the last quarter. Magnetar Financial LLC purchased a new stake in Standard Motor Products during the 4th quarter valued at about $244,000. Finally, Semanteon Capital Management LP bought a new position in Standard Motor Products during the 4th quarter worth approximately $289,000. Institutional investors own 81.26% of the company’s stock.

Analyst Ratings Changes

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

Standard Motor Products Price Performance

Shares of SMP stock opened at $23.74 on Monday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.82 and a current ratio of 2.25. Standard Motor Products, Inc. has a fifty-two week low of $21.38 and a fifty-two week high of $35.92. The firm has a market cap of $519.07 million, a P/E ratio of 14.66 and a beta of 0.57. The business’s 50 day moving average price is $26.52 and its 200-day moving average price is $29.94.

Standard Motor Products (NYSE:SMP) last released its quarterly earnings results on Thursday, February 27th. The auto parts company reported $0.47 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $343.35 million for the quarter, compared to analysts’ expectations of $292.50 million. On average, equities research analysts anticipate that Standard Motor Products, Inc. will post 3.08 earnings per share for the current year.

Standard Motor Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date was Friday, February 14th. Standard Motor Products’s dividend payout ratio (DPR) is presently 100.81%.

Insider Buying and Selling at Standard Motor Products

In other news, EVP Dale Burks sold 11,005 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $27.20, for a total transaction of $299,336.00. Following the transaction, the executive vice president now directly owns 56,860 shares of the company’s stock, valued at $1,546,592. This represents a 16.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 5.00% of the stock is owned by company 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.