Louisiana State Employees Retirement System acquired a new position in Standard Motor Products, Inc. (NYSE:SMP – Get Rating) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,900 shares of the auto parts company’s stock, valued at approximately $289,000.
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Several other large investors have also recently bought and sold shares of the business. Foster Group Inc. purchased a new position in Standard Motor Products in the third quarter worth $399,000. Capital Wealth Alliance LLC acquired a new stake in Standard Motor Products in the second quarter valued at $3,388,000. Summit Global Investments grew its holdings in Standard Motor Products by 67.8% in the second quarter. Summit Global Investments now owns 9,900 shares of the auto parts company’s stock valued at $445,000 after purchasing an additional 4,000 shares during the last quarter. ExodusPoint Capital Management LP acquired a new stake in Standard Motor Products in the second quarter valued at $273,000. Finally, Dean Investment Associates LLC boosted its stake in shares of Standard Motor Products by 12.0% during the second quarter. Dean Investment Associates LLC now owns 107,710 shares of the auto parts company’s stock valued at $4,846,000 after acquiring an additional 11,498 shares during the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.
Insider Buying and Selling
In related news, insider Thomas Tesoro sold 960 shares of the business’s stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $38.00, for a total transaction of $36,480.00. Following the completion of the transaction, the insider now owns 18,566 shares of the company’s stock, valued at approximately $705,508. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Standard Motor Products news, Director Peter J. Sills sold 6,045 shares of the company’s stock in a transaction that occurred on Wednesday, November 16th. The stock was sold at an average price of $39.29, for a total value of $237,508.05. Following the completion of the transaction, the director now owns 650,542 shares of the company’s stock, valued at approximately $25,559,795.18. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Thomas Tesoro sold 960 shares of the company’s stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $38.00, for a total value of $36,480.00. Following the completion of the transaction, the insider now directly owns 18,566 shares of the company’s stock, valued at approximately $705,508. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,560 shares of company stock valued at $700,021. Insiders own 6.60% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on the company. MKM Partners decreased their price target on Standard Motor Products from $57.00 to $47.00 in a research note on Tuesday, October 18th. StockNews.com lowered Standard Motor Products from a “buy” rating to a “hold” rating in a research report on Wednesday, October 5th.
Standard Motor Products Stock Up 2.4 %
SMP opened at $37.45 on Friday. Standard Motor Products, Inc. has a one year low of $31.61 and a one year high of $52.37. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.79 and a current ratio of 2.22. The stock’s fifty day moving average is $37.01 and its 200-day moving average is $38.27. The company has a market capitalization of $807.80 million, a PE ratio of 12.65 and a beta of 0.53.
Standard Motor Products (NYSE:SMP – Get Rating) last issued its quarterly earnings results on Friday, October 28th. The auto parts company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.10. Standard Motor Products had a return on equity of 13.76% and a net margin of 4.81%. The business had revenue of $381.37 million for the quarter, compared to the consensus estimate of $380.88 million. On average, equities analysts predict that Standard Motor Products, Inc. will post 3.44 EPS for the current fiscal year.
Standard Motor Products Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, November 14th. This represents a $1.08 annualized dividend and a dividend yield of 2.88%. Standard Motor Products’s dividend payout ratio (DPR) is presently 36.49%.
Standard Motor Products Company Profile
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Standard Motor Products, Inc manufactures and distributes replacement parts that are used in the maintenance, repair, and service of vehicles in the automotive aftermarket industry with a complementary focus on specialized original equipment parts for manufacturers across agriculture, heavy duty, and construction equipment industries.
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