JPMorgan Chase & Co. Has $1.83 Million Stake in Standard Motor Products, Inc. (NYSE:SMP)

JPMorgan Chase & Co. lifted its stake in Standard Motor Products, Inc. (NYSE:SMP) by 37.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 59,086 shares of the auto parts company’s stock after acquiring an additional 15,979 shares during the period. JPMorgan Chase & Co. owned 0.27% of Standard Motor Products worth $1,830,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc increased its stake in shares of Standard Motor Products by 147.2% in the fourth quarter. Versant Capital Management Inc now owns 1,031 shares of the auto parts company’s stock worth $32,000 after purchasing an additional 614 shares during the period. Farther Finance Advisors LLC grew its holdings in 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 buying an additional 453 shares during the last quarter. Magnetar Financial LLC bought a new position in Standard Motor Products in the 4th quarter worth approximately $244,000. Semanteon Capital Management LP bought a new position in Standard Motor Products in the 4th quarter worth approximately $289,000. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of Standard Motor Products by 5.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 9,421 shares of the auto parts company’s stock worth $292,000 after buying an additional 446 shares during the last quarter. 81.26% of the stock is currently owned by institutional investors and hedge funds.

Standard Motor Products Stock Up 1.2 %

Shares of SMP opened at $24.23 on Friday. 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 50-day simple moving average of $25.98 and a 200-day simple moving average of $29.76. Standard Motor Products, Inc. has a 52 week low of $21.38 and a 52 week high of $35.92. The firm has a market capitalization of $529.72 million, a P/E ratio of 14.96 and a beta of 0.57.

Standard Motor Products (NYSE:SMP) last posted its quarterly earnings results on Thursday, February 27th. The auto parts company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.37 by $0.10. The firm had revenue of $343.35 million during the quarter, compared to analysts’ expectations of $292.50 million. Standard Motor Products had a return on equity of 10.42% and a net margin of 2.56%. On average, equities research analysts expect that Standard Motor Products, Inc. will post 3.08 earnings per share for the current year.

Standard Motor Products Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 4.79%. The ex-dividend date of this dividend was Friday, February 14th. Standard Motor Products’s dividend payout ratio (DPR) is presently 100.81%.

Wall Street Analyst Weigh In

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

Insider Activity

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

Standard Motor Products Company 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.