Assenagon Asset Management S.A. Purchases New Holdings in Standard Motor Products, Inc. (NYSE:SMP)

Assenagon Asset Management S.A. purchased a new stake in shares of Standard Motor Products, Inc. (NYSE:SMP) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 39,938 shares of the auto parts company’s stock, valued at approximately $996,000. Assenagon Asset Management S.A. owned about 0.18% of Standard Motor Products as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Proficio Capital Partners LLC acquired a new position in Standard Motor Products during the fourth quarter valued at approximately $753,000. Foundry Partners LLC boosted its position in Standard Motor Products by 22.4% during the fourth quarter. Foundry Partners LLC now owns 202,152 shares of the auto parts company’s stock valued at $6,263,000 after purchasing an additional 36,947 shares during the last quarter. Versor Investments LP acquired a new position in Standard Motor Products during the fourth quarter valued at approximately $480,000. Deutsche Bank AG boosted its position in 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 valued at $1,496,000 after purchasing an additional 35,245 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in Standard Motor Products by 15.9% during the fourth quarter. Rhumbline Advisers now owns 118,917 shares of the auto parts company’s stock valued at $3,684,000 after purchasing an additional 16,330 shares during the last quarter. 81.26% of the stock is owned by institutional investors and hedge funds.

Standard Motor Products Stock Performance

SMP opened at $30.68 on Thursday. 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 cap of $674.24 million, a price-to-earnings ratio of 21.91 and a beta of 0.65. The business has a 50 day moving average of $27.77 and a 200-day moving average of $28.94. The company has a quick ratio of 0.86, a current ratio of 2.32 and a debt-to-equity ratio of 0.96.

Standard Motor Products (NYSE:SMP) last announced its earnings results on Wednesday, April 30th. The auto parts company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.37. The company 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 12.12% and a net margin of 2.02%. The firm’s quarterly revenue was up 24.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.45 earnings per share. 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 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.04%. This is a positive change from Standard Motor Products’s previous quarterly dividend of $0.29. Standard Motor Products’s dividend payout ratio (DPR) is 88.57%.

Wall Street Analysts Forecast Growth

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

About Standard Motor Products

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.