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.
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.
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.
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