Standard Motor Products, Inc. (NYSE:SMP) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC cut its holdings in Standard Motor Products, Inc. (NYSE:SMP) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 80,723 shares of the auto parts company’s stock after selling 869 shares during the period. Nuveen Asset Management LLC owned 0.37% of Standard Motor Products worth $2,501,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Aquatic Capital Management LLC purchased a new stake in shares of Standard Motor Products in the 4th quarter valued at approximately $30,000. Farther Finance Advisors LLC raised its position in Standard Motor Products by 20.6% in the fourth quarter. Farther Finance Advisors LLC now owns 2,651 shares of the auto parts company’s stock valued at $82,000 after purchasing an additional 453 shares during the period. Polymer Capital Management US LLC acquired a new position in Standard Motor Products during the fourth quarter worth $239,000. Magnetar Financial LLC purchased a new position in shares of Standard Motor Products during the fourth quarter worth $244,000. Finally, Semanteon Capital Management LP purchased a new position in shares of Standard Motor Products during the fourth quarter worth $289,000. 81.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Standard Motor Products

In other news, EVP Dale Burks sold 11,005 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $27.20, for a total transaction 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. The trade was a 16.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.00% of the stock is currently owned by corporate insiders.

Standard Motor Products Trading Down 3.9%

Shares of NYSE:SMP opened at $29.11 on Tuesday. Standard Motor Products, Inc. has a 52 week low of $21.38 and a 52 week high of $35.92. The company’s 50 day moving average is $26.25 and its two-hundred day moving average is $29.09. The company has a market cap of $639.87 million, a PE ratio of 17.97 and a beta of 0.62. The company has a current ratio of 2.25, a quick ratio of 0.82 and a debt-to-equity ratio of 0.21.

Standard Motor Products (NYSE:SMP) last posted its earnings results on Wednesday, April 30th. The auto parts company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.44 by $0.37. The firm had revenue of $413.38 million for the quarter, compared to analyst estimates of $394.38 million. Standard Motor Products had a return on equity of 10.42% and a net margin of 2.56%. Standard Motor Products’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.45 earnings per share. Equities analysts predict that Standard Motor Products, Inc. will post 3.08 earnings per share for the current fiscal year.

Standard Motor Products Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Thursday, May 15th were paid a dividend of $0.31 per share. This is a boost from Standard Motor Products’s previous quarterly dividend of $0.29. The ex-dividend date was Thursday, May 15th. This represents a $1.24 annualized dividend and a yield of 4.26%. Standard Motor Products’s payout ratio is presently 88.57%.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of Standard Motor Products from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd.

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.