GAMMA Investing LLC Has $657,000 Stock Position in Standard Motor Products, Inc. (NYSE:SMP)

GAMMA Investing LLC raised its stake in shares of Standard Motor Products, Inc. (NYSE:SMP) by 2,880.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,351 shares of the auto parts company’s stock after purchasing an additional 25,467 shares during the quarter. GAMMA Investing LLC owned 0.12% of Standard Motor Products worth $657,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Aquatic Capital Management LLC acquired a new position in Standard Motor Products during the 4th quarter worth $30,000. Farther Finance Advisors LLC lifted its holdings in Standard Motor Products by 20.6% during the 4th quarter. Farther Finance Advisors LLC now owns 2,651 shares of the auto parts company’s stock worth $82,000 after buying an additional 453 shares in the last quarter. Central Pacific Bank Trust Division lifted its holdings in Standard Motor Products by 68.0% during the 1st quarter. Central Pacific Bank Trust Division now owns 4,200 shares of the auto parts company’s stock worth $105,000 after buying an additional 1,700 shares in the last quarter. Polymer Capital Management US LLC acquired a new position in Standard Motor Products during the 4th quarter worth $239,000. Finally, Magnetar Financial LLC acquired a new position in Standard Motor Products during the 4th quarter worth $244,000. 81.26% of the stock is owned by institutional investors and hedge funds.

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 Price Performance

SMP opened at $30.68 on Thursday. 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, Inc. has a 12 month low of $21.38 and a 12 month high of $35.92. The company has a fifty day simple moving average of $27.77 and a 200 day simple moving average of $28.94. The stock has a market cap of $674.24 million, a P/E ratio of 21.91 and a beta of 0.65.

Standard Motor Products (NYSE:SMP) last posted 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 net margin of 2.02% and a return on equity of 12.12%. The company had revenue of $413.38 million during the quarter, compared to the consensus estimate of $394.38 million. During the same period in the prior year, the business posted $0.45 EPS. The company’s quarterly revenue was up 24.7% on a year-over-year basis. On average, research analysts expect that Standard Motor Products, Inc. will post 3.08 EPS for the current year.

Standard Motor Products Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th were issued a $0.31 dividend. This is a boost from Standard Motor Products’s previous quarterly dividend of $0.29. This represents a $1.24 annualized dividend and a yield of 4.04%. The ex-dividend date was Thursday, May 15th. Standard Motor Products’s dividend payout ratio is currently 88.57%.

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.