SG Americas Securities LLC Invests $309,000 in Standard Motor Products, Inc. (SMP) Stock

SG Americas Securities LLC acquired 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 acquired 6,406 shares of the auto parts company’s stock, valued at approximately $309,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SMP. FMR LLC increased its holdings in Standard Motor Products by 13.0% during the 2nd quarter. FMR LLC now owns 2,013,969 shares of the auto parts company’s stock worth $105,169,000 after purchasing an additional 231,048 shares during the period. Shell Asset Management Co. bought a new stake in Standard Motor Products during the 3rd quarter valued at $2,593,000. Royce & Associates LP boosted its position in Standard Motor Products by 3.5% during the 2nd quarter. Royce & Associates LP now owns 2,141,830 shares of the auto parts company’s stock valued at $111,846,000 after acquiring an additional 72,600 shares in the last quarter. Palisade Capital Management LLC NJ boosted its position in Standard Motor Products by 102.0% during the 3rd quarter. Palisade Capital Management LLC NJ now owns 112,039 shares of the auto parts company’s stock valued at $5,406,000 after acquiring an additional 56,584 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in Standard Motor Products by 51.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 148,761 shares of the auto parts company’s stock valued at $7,178,000 after acquiring an additional 50,580 shares in the last quarter. Institutional investors own 79.17% of the company’s stock.

Shares of Standard Motor Products, Inc. (SMP) opened at $45.00 on Friday. The firm has a market capitalization of $1,017.81, a price-to-earnings ratio of 16.61, a PEG ratio of 2.80 and a beta of 1.80. Standard Motor Products, Inc. has a 52-week low of $40.56 and a 52-week high of $54.95.

Standard Motor Products (NYSE:SMP) last posted its quarterly earnings data on Thursday, October 26th. The auto parts company reported $0.74 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.12). The business had revenue of $281.06 million during the quarter. Standard Motor Products had a return on equity of 13.68% and a net margin of 4.97%. Standard Motor Products’s quarterly revenue was down 6.5% on a year-over-year basis. During the same period last year, the firm earned $0.92 earnings per share. research analysts anticipate that Standard Motor Products, Inc. will post 2.67 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th were given a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, November 14th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.69%. Standard Motor Products’s payout ratio is 32.20%.

Standard Motor Products announced that its board has authorized a share buyback program on Monday, November 20th that allows the company to repurchase $10.00 million in shares. This repurchase authorization allows the auto parts company to buy shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Several analysts have issued reports on SMP shares. Jefferies Group reaffirmed a “buy” rating and set a $60.00 target price on shares of Standard Motor Products in a research report on Tuesday, September 12th. FBR & Co reaffirmed a “hold” rating and set a $48.00 target price on shares of Standard Motor Products in a research report on Friday, October 27th. Zacks Investment Research raised Standard Motor Products from a “sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. ValuEngine cut Standard Motor Products from a “buy” rating to a “hold” rating in a research report on Thursday, August 31st. Finally, B. Riley reaffirmed a “neutral” rating on shares of Standard Motor Products in a research report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $54.00.

In other news, insider Peter J. Sills sold 2,631 shares of the firm’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $44.78, for a total value of $117,816.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Peter J. Sills sold 2,775 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $42.46, for a total value of $117,826.50. The disclosure for this sale can be found here. Insiders sold a total of 27,679 shares of company stock valued at $1,277,155 in the last three months. Insiders own 6.60% of the company’s stock.

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Standard Motor Products Profile

Standard Motor Products, Inc is an independent manufacturer and distributor of replacement parts for motor vehicles in the automotive aftermarket industry with a complementary focus on heavy duty, industrial equipment and the original equipment service market. The Company’s segments include Engine Management Segment and Temperature Control Segment.

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

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