AlphaQuest LLC Sells 19,087 Shares of Standard Motor Products, Inc. $SMP

AlphaQuest LLC cut its stake in shares of Standard Motor Products, Inc. (NYSE:SMP) by 76.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,881 shares of the auto parts company’s stock after selling 19,087 shares during the quarter. AlphaQuest LLC’s holdings in Standard Motor Products were worth $181,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its stake in shares of Standard Motor Products by 188.3% during the first quarter. PNC Financial Services Group Inc. now owns 2,295 shares of the auto parts company’s stock worth $57,000 after acquiring an additional 1,499 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of Standard Motor Products by 26.7% during the second quarter. Harbor Capital Advisors Inc. now owns 5,609 shares of the auto parts company’s stock worth $172,000 after acquiring an additional 1,182 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Standard Motor Products during the first quarter worth approximately $214,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Standard Motor Products during the first quarter worth approximately $225,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Standard Motor Products during the first quarter worth approximately $227,000. 81.26% of the stock is owned by hedge funds and other institutional investors.

Standard Motor Products Stock Down 0.1%

Shares of NYSE SMP opened at $37.08 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 2.16 and a debt-to-equity ratio of 0.86. Standard Motor Products, Inc. has a 52 week low of $21.38 and a 52 week high of $42.13. The firm’s fifty day moving average is $39.76 and its 200 day moving average is $34.25. The company has a market cap of $815.25 million, a price-to-earnings ratio of 21.07 and a beta of 0.67.

Standard Motor Products (NYSE:SMP) last issued its earnings results on Friday, October 31st. The auto parts company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.14 by $0.22. Standard Motor Products had a net margin of 2.39% and a return on equity of 12.98%. The company had revenue of $498.84 million for the quarter, compared to the consensus estimate of $503.33 million. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Friday, November 14th. Standard Motor Products’s payout ratio is presently 88.57%.

Analysts Set New Price Targets

SMP has been the topic of several research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Standard Motor Products in a research note on Thursday, October 30th. Zacks Research raised shares of Standard Motor Products from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. Wall Street Zen raised shares of Standard Motor Products from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 26th. Finally, Roth Capital reissued a “buy” rating and set a $49.00 price target on shares of Standard Motor Products in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Standard Motor Products presently has an average rating of “Buy” and an average target price of $49.00.

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.