US Bancorp DE Reduces Stock Holdings in Standard Motor Products, Inc. (NYSE:SMP)

US Bancorp DE cut its holdings in shares of Standard Motor Products, Inc. (NYSE:SMP) by 11.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,249 shares of the auto parts company’s stock after selling 964 shares during the period. US Bancorp DE’s holdings in Standard Motor Products were worth $181,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SMP. Aquatic Capital Management LLC acquired a new stake in shares of Standard Motor Products during the fourth quarter worth $30,000. Central Pacific Bank Trust Division lifted its holdings in shares of Standard Motor Products by 68.0% during the first quarter. Central Pacific Bank Trust Division now owns 4,200 shares of the auto parts company’s stock worth $105,000 after purchasing an additional 1,700 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in shares of Standard Motor Products during the first quarter worth $110,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Standard Motor Products during the first quarter worth $225,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Standard Motor Products during the first quarter worth $227,000. 81.26% of the stock is currently owned by hedge funds and other institutional investors.

Standard Motor Products Price Performance

Shares of NYSE SMP opened at $38.23 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.16 and a quick ratio of 0.87. The stock has a fifty day moving average price of $32.80 and a 200 day moving average price of $29.37. Standard Motor Products, Inc. has a 1-year low of $21.38 and a 1-year high of $40.18. The company has a market cap of $840.68 million, a PE ratio of 21.72 and a beta of 0.63.

Standard Motor Products (NYSE:SMP) last released its earnings results on Tuesday, August 5th. The auto parts company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.32. Standard Motor Products had a return on equity of 12.98% and a net margin of 2.39%. The company had revenue of $493.85 million during the quarter, compared to the consensus estimate of $450.21 million. During the same quarter last year, the company earned $0.98 earnings per share. Standard Motor Products’s quarterly revenue was up 26.7% compared to the same quarter last year. Sell-side analysts forecast that Standard Motor Products, Inc. will post 3.08 EPS for the current year.

Standard Motor Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.24 dividend on an annualized basis and a yield of 3.2%. Standard Motor Products’s dividend payout ratio (DPR) is 70.45%.

Analyst Upgrades and Downgrades

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

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.