XTX Topco Ltd Acquires New Position in Standard Motor Products, Inc. (NYSE:SMP)

XTX Topco Ltd purchased a new stake in shares of Standard Motor Products, Inc. (NYSE:SMP) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 18,384 shares of the auto parts company’s stock, valued at approximately $570,000. XTX Topco Ltd owned approximately 0.08% of Standard Motor Products at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Versant Capital Management Inc raised its stake in Standard Motor Products by 147.2% during the 4th quarter. Versant Capital Management Inc now owns 1,031 shares of the auto parts company’s stock valued at $32,000 after purchasing an additional 614 shares during the period. FMR LLC grew its holdings in Standard Motor Products by 64.6% during the 3rd quarter. FMR LLC now owns 1,745 shares of the auto parts company’s stock valued at $58,000 after buying an additional 685 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Standard Motor Products by 20.6% during the fourth quarter. Farther Finance Advisors LLC now owns 2,651 shares of the auto parts company’s stock valued at $82,000 after buying an additional 453 shares during the last quarter. Polymer Capital Management US LLC purchased a new position in shares of Standard Motor Products in the fourth quarter worth $239,000. Finally, Magnetar Financial LLC bought a new position in shares of Standard Motor Products during the fourth quarter worth $244,000. 81.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Standard Motor Products from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd.

Standard Motor Products Stock Performance

NYSE SMP opened at $23.74 on Friday. 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, Inc. has a 1-year low of $21.38 and a 1-year high of $35.92. The business has a 50 day simple moving average of $26.52 and a two-hundred day simple moving average of $29.95. The stock has a market capitalization of $519.07 million, a PE ratio of 14.66 and a beta of 0.57.

Standard Motor Products (NYSE:SMP) last posted its earnings results on Thursday, February 27th. The auto parts company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.10. Standard Motor Products had a net margin of 2.56% and a return on equity of 10.42%. The firm had revenue of $343.35 million during the quarter, compared to analyst estimates of $292.50 million. On average, research analysts predict that Standard Motor Products, Inc. will post 3.08 EPS for the current fiscal year.

Standard Motor Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a $0.29 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.89%. Standard Motor Products’s dividend payout ratio (DPR) is presently 100.81%.

Insider Activity

In related news, EVP Dale Burks sold 11,005 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $27.20, for a total transaction of $299,336.00. Following the sale, the executive vice president now owns 56,860 shares in the company, valued at approximately $1,546,592. This represents a 16.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.00% of the company’s stock.

Standard Motor Products Company 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.