Campbell & CO Investment Adviser LLC Sells 18,837 Shares of Standard Motor Products, Inc. $SMP

Campbell & CO Investment Adviser LLC reduced its stake in shares of Standard Motor Products, Inc. (NYSE:SMP) by 60.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,326 shares of the auto parts company’s stock after selling 18,837 shares during the quarter. Campbell & CO Investment Adviser LLC owned approximately 0.06% of Standard Motor Products worth $503,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SMP. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Standard Motor Products during the third quarter valued at about $241,000. Merit Financial Group LLC bought a new position in shares of Standard Motor Products during the 3rd quarter worth approximately $478,000. Delphi Management Inc. MA purchased a new stake in Standard Motor Products during the third quarter valued at approximately $233,000. Texas Permanent School Fund Corp boosted its stake in Standard Motor Products by 9.4% in the second quarter. Texas Permanent School Fund Corp now owns 22,120 shares of the auto parts company’s stock valued at $680,000 after acquiring an additional 1,907 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in Standard Motor Products in the second quarter valued at approximately $1,120,000. Hedge funds and other institutional investors own 81.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SMP. Roth Mkm reiterated a “buy” rating and set a $49.00 price objective on shares of Standard Motor Products in a report on Monday, November 3rd. Zacks Research lowered Standard Motor Products from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 1st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Standard Motor Products in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $49.00.

Insider Buying and Selling at Standard Motor Products

In related news, VP Ray Nicholas sold 9,093 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $38.01, for a total transaction of $345,624.93. Following the completion of the transaction, the vice president directly owned 40,609 shares in the company, valued at $1,543,548.09. The trade was a 18.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Nathan R. Iles sold 1,356 shares of the stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $38.30, for a total value of $51,934.80. Following the sale, the chief financial officer directly owned 37,468 shares in the company, valued at $1,435,024.40. This represents a 3.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 15,895 shares of company stock worth $606,215. Corporate insiders own 5.00% of the company’s stock.

Standard Motor Products Stock Performance

Shares of SMP stock opened at $39.79 on Friday. The business has a fifty day moving average of $37.88 and a 200 day moving average of $37.74. Standard Motor Products, Inc. has a 1 year low of $21.38 and a 1 year high of $42.13. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.96 and a quick ratio of 0.77. The firm has a market capitalization of $875.27 million, a price-to-earnings ratio of 28.42 and a beta of 0.76.

Standard Motor Products (NYSE:SMP) last announced its quarterly earnings data on Friday, October 31st. The auto parts company reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.22. Standard Motor Products had a return on equity of 13.15% and a net margin of 1.79%.The business had revenue of $498.84 million for the quarter, compared to analyst estimates of $503.33 million. As a group, research analysts expect that Standard Motor Products, Inc. will post 3.08 earnings per share for the current year.

Standard Motor Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Friday, November 14th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.24 dividend on an annualized basis and a yield of 3.1%. Standard Motor Products’s dividend payout ratio (DPR) is currently 88.57%.

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.