Northern Trust Corp Has $10.35 Million Stake in Standard Motor Products, Inc. (NYSE:SMP)

Northern Trust Corp increased its stake in shares of Standard Motor Products, Inc. (NYSE:SMP) by 3.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 334,037 shares of the auto parts company’s stock after acquiring an additional 12,379 shares during the period. Northern Trust Corp owned 1.54% of Standard Motor Products worth $10,348,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SMP. Raymond James Financial Inc. acquired a new stake in Standard Motor Products in the 4th quarter valued at approximately $2,710,000. American Century Companies Inc. grew its holdings in Standard Motor Products by 21.1% in the 4th quarter. American Century Companies Inc. now owns 497,258 shares of the auto parts company’s stock valued at $15,405,000 after buying an additional 86,640 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Standard Motor Products by 26.7% in the 4th quarter. Bank of New York Mellon Corp now owns 331,078 shares of the auto parts company’s stock valued at $10,257,000 after buying an additional 69,717 shares during the last quarter. Vanguard Group Inc. grew its holdings in Standard Motor Products by 4.3% in the 4th quarter. Vanguard Group Inc. now owns 1,655,886 shares of the auto parts company’s stock valued at $51,299,000 after buying an additional 69,000 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in Standard Motor Products by 32.5% in the 4th quarter. Invesco Ltd. now owns 189,589 shares of the auto parts company’s stock valued at $5,873,000 after buying an additional 46,482 shares during the last quarter. Institutional investors and hedge funds own 81.26% of the company’s stock.

Standard Motor Products Stock Performance

SMP opened at $29.78 on Friday. The firm has a market capitalization of $654.59 million, a P/E ratio of 18.38 and a beta of 0.62. The stock’s 50 day moving average price is $25.52 and its two-hundred day moving average price is $29.46. The company has a quick ratio of 0.82, a current ratio of 2.25 and a debt-to-equity ratio of 0.21. Standard Motor Products, Inc. has a 12-month low of $21.38 and a 12-month high of $35.92.

Standard Motor Products (NYSE:SMP) last announced its quarterly earnings data on Wednesday, April 30th. The auto parts company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.37. Standard Motor Products had a return on equity of 10.42% and a net margin of 2.56%. The company had revenue of $413.38 million during the quarter, compared to the consensus estimate of $394.38 million. During the same quarter last year, the company earned $0.45 EPS. The company’s quarterly revenue was up 24.7% on a year-over-year basis. On average, equities analysts forecast that Standard Motor Products, Inc. will post 3.08 earnings per share for the current year.

Standard Motor Products Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Thursday, May 15th will be paid a $0.31 dividend. This is a positive change from Standard Motor Products’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.24 annualized dividend and a yield of 4.16%. Standard Motor Products’s payout ratio is currently 88.57%.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, EVP Dale Burks sold 11,005 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $27.20, for a total value of $299,336.00. Following the completion of the sale, the executive vice president now owns 56,860 shares in the company, valued at approximately $1,546,592. This represents a 16.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 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.