Empowered Funds LLC Invests $5.49 Million in Standard Motor Products, Inc. $SMP

Empowered Funds LLC acquired a new stake in shares of Standard Motor Products, Inc. (NYSE:SMP) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 140,938 shares of the auto parts company’s stock, valued at approximately $5,492,000.

Other large investors have also modified their holdings of the company. Parallel Advisors LLC lifted its position in Standard Motor Products by 76.7% in the first quarter. Parallel Advisors LLC now owns 949 shares of the auto parts company’s stock worth $33,000 after purchasing an additional 412 shares during the period. Public Employees Retirement System of Ohio bought a new stake in Standard Motor Products in the 2nd quarter valued at $35,000. Caitong International Asset Management Co. Ltd raised its stake in shares of Standard Motor Products by 7,560.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,149 shares of the auto parts company’s stock valued at $42,000 after buying an additional 1,134 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Standard Motor Products by 235.5% in 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 in the last quarter. Finally, iSAM Funds UK Ltd bought a new position in shares of Standard Motor Products during the 3rd quarter worth about $99,000. 81.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Ray Nicholas sold 5,822 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $39.75, for a total transaction of $231,424.50. Following the completion of the sale, the vice president owned 35,327 shares of the company’s stock, valued at approximately $1,404,248.25. This trade represents a 14.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Dale Burks sold 5,798 shares of Standard Motor Products stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $39.00, for a total transaction of $226,122.00. Following the completion of the transaction, the executive vice president owned 47,657 shares of the company’s stock, valued at $1,858,623. This trade represents a 10.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 24,171 shares of company stock worth $943,571 over the last ninety days. Insiders own 5.50% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on SMP. Zacks Research lowered shares of Standard Motor Products from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 12th. Wall Street Zen raised shares of Standard Motor Products from a “hold” rating to a “buy” rating in a research report on Sunday, August 16th. Finally, Weiss Ratings upgraded shares of Standard Motor Products from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, July 28th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Standard Motor Products presently has an average rating of “Moderate Buy” and a consensus target price of $49.00.

Standard Motor Products Stock Up 2.1%

Shares of NYSE SMP opened at $37.80 on Tuesday. Standard Motor Products, Inc. has a 52-week low of $34.27 and a 52-week high of $46.00. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.80 and a current ratio of 2.00. The business has a fifty day moving average of $38.61 and a two-hundred day moving average of $38.53. The stock has a market cap of $844.45 million, a PE ratio of 16.88 and a beta of 0.82.

Standard Motor Products (NYSE:SMP) last posted its earnings results on Tuesday, August 4th. The auto parts company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.01. The business had revenue of $526.72 million for the quarter, compared to analyst estimates of $511.68 million. Standard Motor Products had a net margin of 2.78% and a return on equity of 13.28%. During the same quarter in the prior year, the firm earned $1.13 EPS. As a group, equities research analysts expect that Standard Motor Products, Inc. will post 4.23 earnings per share for the current fiscal year.

Standard Motor Products Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be given a $0.33 dividend. The ex-dividend date is Friday, August 14th. This represents a $1.32 dividend on an annualized basis and a yield of 3.5%. Standard Motor Products’s payout ratio is 58.93%.

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.