Foundry Partners LLC Increases Stock Position in Standard Motor Products, Inc. (NYSE:SMP)

Foundry Partners LLC raised its position in shares of Standard Motor Products, Inc. (NYSE:SMP) by 6.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 165,205 shares of the auto parts company’s stock after buying an additional 10,360 shares during the period. Foundry Partners LLC’s holdings in Standard Motor Products were worth $5,485,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SMP. Russell Investments Group Ltd. purchased a new stake in Standard Motor Products during the 1st quarter valued at $205,000. Vanguard Group Inc. raised its holdings in Standard Motor Products by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 1,442,712 shares of the auto parts company’s stock worth $48,403,000 after purchasing an additional 49,905 shares in the last quarter. UniSuper Management Pty Ltd bought a new position in Standard Motor Products in the 1st quarter worth $320,000. Gamco Investors INC. ET AL raised its holdings in Standard Motor Products by 1.3% in the 1st quarter. Gamco Investors INC. ET AL now owns 306,300 shares of the auto parts company’s stock worth $10,276,000 after purchasing an additional 3,900 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Standard Motor Products by 3.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,396 shares of the auto parts company’s stock worth $618,000 after purchasing an additional 634 shares in the last quarter. Hedge funds and other institutional investors own 81.26% of the company’s stock.

Standard Motor Products Stock Up 1.4 %

Shares of NYSE SMP opened at $32.04 on Friday. The company has a current ratio of 2.25, a quick ratio of 0.82 and a debt-to-equity ratio of 0.21. Standard Motor Products, Inc. has a 12 month low of $26.09 and a 12 month high of $41.71. The firm has a market capitalization of $695.84 million, a PE ratio of 19.78 and a beta of 0.51. The firm has a fifty day simple moving average of $32.26 and a two-hundred day simple moving average of $31.03.

Standard Motor Products (NYSE:SMP) last issued its quarterly earnings data on Wednesday, October 30th. The auto parts company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.09 by $0.19. Standard Motor Products had a net margin of 2.56% and a return on equity of 10.42%. The business had revenue of $399.27 million during the quarter, compared to analyst estimates of $396.10 million. During the same period in the prior year, the business earned $1.11 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. Equities analysts expect that Standard Motor Products, Inc. will post 3.03 earnings per share for the current year.

Standard Motor Products Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be paid a $0.29 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.16 annualized dividend and a dividend yield of 3.62%. Standard Motor Products’s payout ratio is 71.61%.

Insider Buying and Selling

In related news, CFO Nathan R. Iles sold 1,485 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $34.97, for a total value of $51,930.45. Following the completion of the transaction, the chief financial officer now directly owns 29,015 shares in the company, valued at $1,014,654.55. This trade represents a 4.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Carmine Joseph Broccole sold 913 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $34.96, for a total transaction of $31,918.48. Following the completion of the transaction, the insider now owns 81,241 shares of the company’s stock, valued at approximately $2,840,185.36. The trade was a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,454 shares of company stock worth $225,701 in the last three months. 5.00% of the stock is owned by corporate insiders.

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.