Intech Investment Management LLC Grows Holdings in Standard Motor Products, Inc. (NYSE:SMP)

Intech Investment Management LLC boosted its holdings in shares of Standard Motor Products, Inc. (NYSE:SMP) by 274.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,119 shares of the auto parts company’s stock after acquiring an additional 27,210 shares during the period. Intech Investment Management LLC owned 0.17% of Standard Motor Products worth $1,232,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Innealta Capital LLC purchased a new position in shares of Standard Motor Products during the second quarter valued at approximately $25,000. Gladius Capital Management LP bought a new position in Standard Motor Products during the 2nd quarter valued at approximately $30,000. GAMMA Investing LLC raised its stake in Standard Motor Products by 153.8% during the third quarter. GAMMA Investing LLC now owns 906 shares of the auto parts company’s stock valued at $30,000 after buying an additional 549 shares during the last quarter. Farther Finance Advisors LLC bought a new stake in Standard Motor Products in the third quarter worth $73,000. Finally, Central Pacific Bank Trust Division purchased a new stake in shares of Standard Motor Products in the third quarter worth $83,000. Institutional investors own 81.26% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Dale Burks sold 1,722 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $34.96, for a total transaction of $60,201.12. Following the completion of the transaction, the executive vice president now directly owns 67,865 shares of the company’s stock, valued at $2,372,560.40. The trade was a 2.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric Sills sold 1,721 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $34.97, for a total transaction of $60,183.37. Following the completion of the sale, the chief executive officer now owns 175,651 shares in the company, valued at $6,142,515.47. This represents a 0.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,454 shares of company stock valued at $225,701. Corporate insiders own 5.00% of the company’s stock.

Standard Motor Products Price Performance

SMP opened at $32.68 on Wednesday. The firm has a market cap of $709.87 million, a PE ratio of 20.03 and a beta of 0.51. The stock has a 50-day moving average price of $32.25 and a 200-day moving average price of $31.02. Standard Motor Products, Inc. has a 1 year low of $26.09 and a 1 year high of $41.71. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.25 and a quick ratio of 0.82.

Standard Motor Products (NYSE:SMP) last issued its earnings results on Wednesday, October 30th. The auto parts company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.19. The business had revenue of $399.27 million during the quarter, compared to analysts’ expectations of $396.10 million. Standard Motor Products had a net margin of 2.56% and a return on equity of 10.42%. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.11 earnings per share. Sell-side analysts predict that Standard Motor Products, Inc. will post 3.05 earnings per share for the current fiscal year.

Standard Motor Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.16 annualized dividend and a yield of 3.55%. Standard Motor Products’s dividend payout ratio is 71.60%.

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.