SG Americas Securities LLC Has $361,000 Stake in Standard Motor Products, Inc. $SMP

SG Americas Securities LLC lowered its holdings in Standard Motor Products, Inc. (NYSE:SMP) by 61.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,855 shares of the auto parts company’s stock after selling 14,333 shares during the period. SG Americas Securities LLC’s holdings in Standard Motor Products were worth $361,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Nisa Investment Advisors LLC boosted its stake in shares of Standard Motor Products by 4,842.1% in the second quarter. Nisa Investment Advisors LLC now owns 939 shares of the auto parts company’s stock valued at $29,000 after buying an additional 920 shares during the period. Tower Research Capital LLC TRC raised its holdings in Standard Motor Products by 235.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,298 shares of the auto parts company’s stock valued at $71,000 after acquiring an additional 1,613 shares in the last quarter. EP Wealth Advisors LLC bought a new stake in shares of Standard Motor Products during the 2nd quarter valued at $205,000. Rexford Capital Inc. bought a new stake in shares of Standard Motor Products during the 2nd quarter valued at $212,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Standard Motor Products during the 1st quarter worth $214,000. 81.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Standard Motor Products

In other Standard Motor Products news, EVP Dale Burks sold 1,180 shares of the company’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $38.30, for a total value of $45,194.00. Following the completion of the transaction, the executive vice president owned 60,216 shares of the company’s stock, valued at $2,306,272.80. This represents a 1.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric Sills sold 1,531 shares of the stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $38.26, for a total value of $58,576.06. Following the completion of the transaction, the chief executive officer owned 178,432 shares of the company’s stock, valued at $6,826,808.32. This represents a 0.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 15,895 shares of company stock worth $606,215 over the last three months. 5.00% of the stock is owned by corporate insiders.

Standard Motor Products Stock Down 1.2%

SMP stock opened at $39.25 on Monday. The firm has a 50-day moving average price of $37.92 and a 200-day moving average price of $37.84. Standard Motor Products, Inc. has a 12 month low of $21.38 and a 12 month high of $42.13. The company has a current ratio of 1.96, a quick ratio of 0.77 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $863.50 million, a P/E ratio of 28.04 and a beta of 0.76.

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

Standard Motor Products Announces Dividend

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

Standard Motor Products Company Profile

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.