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

Millennium Management LLC reduced its position in shares of Standard Motor Products, Inc. (NYSE:SMP) by 65.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,567 shares of the auto parts company’s stock after selling 18,035 shares during the period. Millennium Management LLC’s holdings in Standard Motor Products were worth $296,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Standard Motor Products by 4.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,900 shares of the auto parts company’s stock worth $369,000 after buying an additional 469 shares during the period. Lazard Asset Management LLC boosted its position in shares of Standard Motor Products by 46.3% during the fourth quarter. Lazard Asset Management LLC now owns 36,364 shares of the auto parts company’s stock worth $1,126,000 after buying an additional 11,508 shares during the period. Deutsche Bank AG boosted its position in shares of Standard Motor Products by 270.1% during the fourth quarter. Deutsche Bank AG now owns 48,293 shares of the auto parts company’s stock worth $1,496,000 after buying an additional 35,245 shares during the period. Bridgeway Capital Management LLC boosted its position in shares of Standard Motor Products by 2.9% during the fourth quarter. Bridgeway Capital Management LLC now owns 192,284 shares of the auto parts company’s stock worth $5,957,000 after buying an additional 5,341 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of Standard Motor Products by 4.1% during the fourth quarter. Bank of America Corp DE now owns 57,421 shares of the auto parts company’s stock worth $1,779,000 after buying an additional 2,268 shares during the period. 81.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Standard Motor Products Trading Up 1.4%

SMP opened at $30.65 on Wednesday. Standard Motor Products, Inc. has a 12 month low of $21.38 and a 12 month high of $35.92. The stock has a market capitalization of $673.61 million, a price-to-earnings ratio of 18.92 and a beta of 0.65. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.25 and a quick ratio of 0.82. The business has a fifty day moving average price of $26.83 and a 200 day moving average price of $29.01.

Standard Motor Products (NYSE:SMP) last released its earnings results on Wednesday, April 30th. The auto parts company reported $0.81 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $413.38 million during the quarter, compared to analysts’ expectations of $394.38 million. During the same period in the previous year, the firm posted $0.45 EPS. Standard Motor Products’s revenue for the quarter was up 24.7% on a year-over-year basis. Sell-side analysts expect that Standard Motor Products, Inc. will post 3.08 earnings per share for the current fiscal year.

Standard Motor Products Increases Dividend

The business 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 represents a $1.24 annualized dividend and a yield of 4.05%. This is a boost from Standard Motor Products’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Thursday, May 15th. Standard Motor Products’s payout ratio is presently 88.57%.

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.