Swiss National Bank Trims Position in Standard Motor Products, Inc. $SMP

Swiss National Bank cut its holdings in shares of Standard Motor Products, Inc. (NYSE:SMP) by 1.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 40,000 shares of the auto parts company’s stock after selling 500 shares during the period. Swiss National Bank owned 0.18% of Standard Motor Products worth $997,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. SummerHaven Investment Management LLC increased its stake in shares of Standard Motor Products by 1.6% during the first quarter. SummerHaven Investment Management LLC now owns 29,228 shares of the auto parts company’s stock valued at $729,000 after buying an additional 463 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake 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 valued at $369,000 after buying an additional 469 shares during the period. Barclays PLC grew its stake in Standard Motor Products by 1.2% in the fourth quarter. Barclays PLC now owns 49,118 shares of the auto parts company’s stock worth $1,521,000 after purchasing an additional 596 shares during the period. Aquatic Capital Management LLC purchased a new stake in Standard Motor Products in the fourth quarter worth $30,000. Finally, CANADA LIFE ASSURANCE Co grew its stake in Standard Motor Products by 5.3% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 22,068 shares of the auto parts company’s stock worth $683,000 after purchasing an additional 1,109 shares during the period. 81.26% of the stock is owned by hedge funds and other institutional investors.

Standard Motor Products Price Performance

Shares of SMP stock opened at $38.70 on Wednesday. Standard Motor Products, Inc. has a twelve month low of $21.38 and a twelve month high of $40.18. The company has a quick ratio of 0.87, a current ratio of 2.16 and a debt-to-equity ratio of 0.86. The business’s fifty day moving average is $33.87 and its 200 day moving average is $29.71. The stock has a market cap of $850.95 million, a price-to-earnings ratio of 21.99 and a beta of 0.63.

Standard Motor Products (NYSE:SMP) last issued its quarterly earnings results on Tuesday, August 5th. The auto parts company reported $1.29 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $493.85 million during the quarter, compared to the consensus estimate of $450.21 million. During the same period last year, the company earned $0.98 earnings per share. The company’s revenue was up 26.7% on a year-over-year basis. Research analysts expect that Standard Motor Products, Inc. will post 3.08 EPS for the current fiscal year.

Standard Motor Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 15th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.24 annualized dividend and a dividend 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 research note 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.