Denali Advisors LLC Raises Stock Holdings in Standard Motor Products, Inc. (NYSE:SMP)

Denali Advisors LLC raised its position in shares of Standard Motor Products, Inc. (NYSE:SMP) by 48.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,800 shares of the auto parts company’s stock after acquiring an additional 13,600 shares during the period. Denali Advisors LLC owned approximately 0.19% of Standard Motor Products worth $1,159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Innealta Capital LLC purchased a new stake in shares of Standard Motor Products during the 2nd quarter worth approximately $25,000. Gladius Capital Management LP purchased a new stake in shares of Standard Motor Products during the 2nd quarter worth approximately $30,000. Russell Investments Group Ltd. bought a new position in shares of Standard Motor Products during the 1st quarter valued at approximately $205,000. SageView Advisory Group LLC bought a new position in shares of Standard Motor Products during the 1st quarter valued at approximately $222,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of Standard Motor Products by 7.6% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,994 shares of the auto parts company’s stock valued at $235,000 after purchasing an additional 495 shares during the last quarter. 81.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Roth Mkm reissued a “buy” rating and set a $42.00 target price on shares of Standard Motor Products in a research report on Thursday, May 23rd.

Standard Motor Products Stock Performance

NYSE SMP opened at $33.41 on Tuesday. The company has a market cap of $728.84 million, a P/E ratio of 24.04 and a beta of 0.52. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.93 and a current ratio of 2.46. The business’s 50 day moving average price is $31.09 and its 200-day moving average price is $31.04. Standard Motor Products, Inc. has a fifty-two week low of $26.09 and a fifty-two week high of $41.71.

Standard Motor Products (NYSE:SMP) last released its earnings results on Thursday, August 1st. The auto parts company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.20. The firm had revenue of $389.80 million for the quarter, compared to the consensus estimate of $365.60 million. Standard Motor Products had a return on equity of 9.90% and a net margin of 2.79%. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.84 EPS. Sell-side analysts predict that Standard Motor Products, Inc. will post 3.01 earnings per share for the current year.

Standard Motor Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.47%. The ex-dividend date was Thursday, August 15th. Standard Motor Products’s dividend payout ratio (DPR) is presently 83.45%.

About Standard Motor Products

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.