Prudential Financial Inc. Sells 8,767 Shares of Standard Motor Products, Inc. (SMP)

Prudential Financial Inc. lowered its stake in Standard Motor Products, Inc. (NYSE:SMP) by 10.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 74,718 shares of the auto parts company’s stock after selling 8,767 shares during the quarter. Prudential Financial Inc.’s holdings in Standard Motor Products were worth $3,619,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of SMP. Quantamental Technologies LLC acquired a new position in Standard Motor Products in the 4th quarter valued at $52,000. Tower Research Capital LLC TRC raised its holdings in Standard Motor Products by 2,536.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,642 shares of the auto parts company’s stock valued at $278,000 after acquiring an additional 5,428 shares during the last quarter. PEAK6 Investments LLC acquired a new position in Standard Motor Products in the 3rd quarter valued at $278,000. Oregon Public Employees Retirement Fund acquired a new position in Standard Motor Products in the 4th quarter valued at $372,000. Finally, Assenagon Asset Management S.A. acquired a new position in Standard Motor Products in the 4th quarter valued at $728,000. 80.02% of the stock is currently owned by hedge funds and other institutional investors.

In other news, EVP Dale Burks sold 1,431 shares of the company’s stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $49.65, for a total transaction of $71,049.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 6.40% of the company’s stock.

Several research analysts have weighed in on SMP shares. Zacks Investment Research reiterated a “sell” rating on shares of Standard Motor Products in a report on Thursday, November 15th. ValuEngine downgraded Standard Motor Products from a “buy” rating to a “hold” rating in a report on Saturday, February 2nd.

SMP stock opened at $48.43 on Friday. The firm has a market cap of $1.08 billion, a PE ratio of 18.99, a PEG ratio of 1.30 and a beta of 1.05. Standard Motor Products, Inc. has a 52 week low of $42.50 and a 52 week high of $56.54.

Standard Motor Products (NYSE:SMP) last released its quarterly earnings data on Thursday, February 14th. The auto parts company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.09). The firm had revenue of $246.97 million for the quarter, compared to analyst estimates of $247.45 million. Standard Motor Products had a return on equity of 12.56% and a net margin of 3.94%. The company’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.54 earnings per share. Research analysts predict that Standard Motor Products, Inc. will post 3.09 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 15th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.90%. This is an increase from Standard Motor Products’s previous quarterly dividend of $0.21. The ex-dividend date was Thursday, February 14th. Standard Motor Products’s dividend payout ratio is presently 36.08%.

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Standard Motor Products Company Profile

Standard Motor Products, Inc manufactures and distributes replacement parts for motor vehicles in the automotive aftermarket industry. Its Engine Management segment manufactures and distributes engine management replacement parts, including electronic ignition control modules, fuel injectors, remanufactured diesel injectors and pumps, ignition wires, coils, switches, relays, EGR valves, distributor caps and rotors, various sensors primarily measuring temperature, vehicle systems, electronic throttle bodies, and other engine management components primarily under the Standard, Blue Streak, BWD, Select, Intermotor, OEM, LockSmart, TechSmart, Tech Expert, and GP Sorensen brands.

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Institutional Ownership by Quarter for Standard Motor Products (NYSE:SMP)

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