Tredje AP fonden Buys New Holdings in Standard Motor Products, Inc. $SMP

Tredje AP fonden purchased a new position in shares of Standard Motor Products, Inc. (NYSE:SMP) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 22,661 shares of the auto parts company’s stock, valued at approximately $925,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nisa Investment Advisors LLC grew its holdings 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 worth $29,000 after purchasing an additional 920 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in Standard Motor Products by 235.5% during 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 buying an additional 1,613 shares during the last quarter. EP Wealth Advisors LLC purchased a new stake in Standard Motor Products during the 2nd quarter valued at $205,000. Rexford Capital Inc. bought a new stake in Standard Motor Products in the 2nd quarter worth $212,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Standard Motor Products in the first quarter valued at about $214,000. Institutional investors own 81.26% of the company’s stock.

Standard Motor Products Price Performance

Shares of NYSE SMP opened at $44.63 on Monday. Standard Motor Products, Inc. has a 1 year low of $21.38 and a 1 year high of $46.00. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.96 and a quick ratio of 0.77. The company’s 50-day moving average is $40.17 and its 200 day moving average is $39.30. The stock has a market capitalization of $981.95 million, a P/E ratio of 31.88 and a beta of 0.76.

Standard Motor Products Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Monday, February 16th will be issued a dividend of $0.33 per share. This is a positive change from Standard Motor Products’s previous quarterly dividend of $0.31. The ex-dividend date is Friday, February 13th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.0%. Standard Motor Products’s dividend payout ratio (DPR) is currently 94.29%.

Analyst Ratings Changes

SMP has been the subject of a number of analyst reports. Roth Mkm reiterated a “buy” rating and set a $49.00 target price on shares of Standard Motor Products in a report on Monday, November 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Standard Motor Products in a research report on Monday, December 29th. Finally, Zacks Research lowered Standard Motor Products from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 1st. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Standard Motor Products currently has a consensus rating of “Hold” and an average price target of $49.00.

Insider Activity

In other news, VP Ray Nicholas sold 9,093 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $38.01, for a total value of $345,624.93. Following the completion of the transaction, the vice president owned 40,609 shares in the company, valued at $1,543,548.09. This trade represents a 18.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 5.00% of the company’s stock.

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.