36,470 Shares in Standard Motor Products, Inc. $SMP Acquired by Squarepoint Ops LLC

Squarepoint Ops LLC bought a new position in Standard Motor Products, Inc. (NYSE:SMP) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 36,470 shares of the auto parts company’s stock, valued at approximately $1,120,000. Squarepoint Ops LLC owned 0.17% of Standard Motor Products as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in SMP. Nisa Investment Advisors LLC boosted its holdings in shares of Standard Motor Products by 4,842.1% during the second quarter. Nisa Investment Advisors LLC now owns 939 shares of the auto parts company’s stock worth $29,000 after purchasing an additional 920 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Standard Motor Products by 235.5% during the second quarter. Tower Research Capital LLC TRC now owns 2,298 shares of the auto parts company’s stock worth $71,000 after buying an additional 1,613 shares during the period. Harbor Capital Advisors Inc. boosted its stake in Standard Motor Products by 26.7% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 5,609 shares of the auto parts company’s stock worth $172,000 after buying an additional 1,182 shares during the last quarter. EP Wealth Advisors LLC purchased a new stake in Standard Motor Products in the 2nd quarter valued at about $205,000. Finally, Rexford Capital Inc. acquired a new position in shares of Standard Motor Products during the 2nd quarter valued at about $212,000. Hedge funds and other institutional investors own 81.26% of the company’s stock.

Wall Street Analysts Forecast Growth

SMP has been the subject of a number of recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Standard Motor Products in a report on Monday, December 15th. Zacks Research upgraded shares of Standard Motor Products from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. Finally, Roth Capital reissued a “buy” rating and set a $49.00 price objective on shares of Standard Motor Products in a research note on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Standard Motor Products has an average rating of “Buy” and a consensus target price of $49.00.

Standard Motor Products Trading Down 1.9%

Shares of SMP stock opened at $38.17 on Monday. The company has a quick ratio of 0.77, a current ratio of 1.96 and a debt-to-equity ratio of 0.78. Standard Motor Products, Inc. has a fifty-two week low of $21.38 and a fifty-two week high of $42.13. The firm’s 50 day moving average price is $38.28 and its two-hundred day moving average price is $36.60. The stock has a market cap of $839.74 million, a price-to-earnings ratio of 27.26 and a beta of 0.72.

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, beating analysts’ consensus estimates of $1.14 by $0.22. The business had revenue of $498.84 million for the quarter, compared to the consensus estimate of $503.33 million. Standard Motor Products had a net margin of 1.79% and a return on equity of 13.15%. On average, analysts anticipate that Standard Motor Products, Inc. will post 3.08 EPS for the current year.

Standard Motor Products Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Friday, November 14th were given a $0.31 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.24 annualized dividend and a yield of 3.2%. Standard Motor Products’s dividend payout ratio (DPR) is 88.57%.

Insider Activity at Standard Motor Products

In related news, insider Carmine Joseph Broccole sold 1,148 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $38.31, for a total transaction of $43,979.88. Following the transaction, the insider directly owned 83,367 shares of the company’s stock, valued at approximately $3,193,789.77. The trade was a 1.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Nathan R. Iles sold 1,356 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $38.30, for a total value of $51,934.80. Following the completion of the transaction, the chief financial officer owned 37,468 shares of the company’s stock, valued at approximately $1,435,024.40. This represents a 3.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 15,895 shares of company stock valued at $606,215 over the last 90 days. Corporate insiders own 5.00% of the company’s stock.

About Standard Motor Products

Standard Motor Products, Inc, headquartered in Long Island City, New York, is a leading manufacturer and distributor of aftermarket and original equipment automotive parts. Since its founding in 1919, the company has focused on engineering, testing, and supplying ignition and temperature management products for passenger cars and light trucks. Its product lineup includes ignition coils, spark plug wires, sensors, switches, heating and air conditioning controls, and related electronic components.

The company operates through two primary segments: Engine Management and Temperature Control.