9,019 Shares in Standard Motor Products, Inc. (NYSE:SMP) Purchased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd acquired a new position in shares of Standard Motor Products, Inc. (NYSE:SMP) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 9,019 shares of the auto parts company’s stock, valued at approximately $225,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Aquatic Capital Management LLC purchased a new stake in Standard Motor Products during the 4th quarter worth about $30,000. Central Pacific Bank Trust Division boosted its stake in Standard Motor Products by 68.0% in 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 during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in Standard Motor Products in the 1st quarter worth about $110,000. Polymer Capital Management US LLC acquired a new stake in Standard Motor Products in the 4th quarter worth about $239,000. Finally, Probity Advisors Inc. boosted its stake in Standard Motor Products by 17.7% in the 4th quarter. Probity Advisors Inc. now owns 10,671 shares of the auto parts company’s stock worth $331,000 after buying an additional 1,603 shares during the last quarter. Hedge funds and other institutional investors own 81.26% of the company’s stock.

Standard Motor Products Stock Up 0.8%

Shares of NYSE:SMP opened at $32.33 on Thursday. The stock’s 50-day moving average price is $31.24 and its two-hundred day moving average price is $28.98. The company has a current ratio of 2.32, a quick ratio of 0.86 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 firm has a market cap of $710.61 million, a price-to-earnings ratio of 23.09 and a beta of 0.65.

Standard Motor Products (NYSE:SMP) last issued its quarterly earnings results on Wednesday, April 30th. The auto parts company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.37. Standard Motor Products had a return on equity of 12.12% and a net margin of 2.02%. The firm had revenue of $413.38 million for the quarter, compared to analyst estimates of $394.38 million. During the same period last year, the company earned $0.45 EPS. The firm’s quarterly revenue was up 24.7% on a year-over-year basis. On average, research analysts forecast that Standard Motor Products, Inc. will post 3.08 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised Standard Motor Products from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 26th.

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.