Standard Motor Products, Inc. (NYSE:SMP) Position Increased by Granite Investment Partners LLC

Granite Investment Partners LLC boosted its stake in shares of Standard Motor Products, Inc. (NYSE:SMP) by 3.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 230,296 shares of the auto parts company’s stock after buying an additional 8,501 shares during the period. Granite Investment Partners LLC’s holdings in Standard Motor Products were worth $12,026,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Standard Motor Products by 65,269.9% in the first quarter. BlackRock Inc. now owns 2,483,404 shares of the auto parts company’s stock valued at $122,033,000 after buying an additional 2,479,605 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Standard Motor Products by 1.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,616,339 shares of the auto parts company’s stock valued at $79,427,000 after buying an additional 15,441 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Standard Motor Products by 7.2% in the first quarter. Vanguard Group Inc. now owns 1,042,070 shares of the auto parts company’s stock valued at $51,207,000 after buying an additional 69,882 shares in the last quarter. Neumeier Poma Investment Counsel LLC raised its position in shares of Standard Motor Products by 16.1% in the first quarter. Neumeier Poma Investment Counsel LLC now owns 551,545 shares of the auto parts company’s stock valued at $27,103,000 after buying an additional 76,665 shares in the last quarter. Finally, State Street Corp raised its position in shares of Standard Motor Products by 6.9% in the first quarter. State Street Corp now owns 483,986 shares of the auto parts company’s stock valued at $23,785,000 after buying an additional 31,293 shares in the last quarter. Institutional investors and hedge funds own 77.83% of the company’s stock.

Standard Motor Products, Inc. (SMP) opened at 45.71 on Thursday. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of 17.04 and a beta of 1.81. The stock’s 50 day moving average is $50.76 and its 200 day moving average is $49.66. Standard Motor Products, Inc. has a one year low of $42.11 and a one year high of $55.37.

Standard Motor Products (NYSE:SMP) last posted its earnings results on Monday, July 31st. The auto parts company reported $0.81 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.99 by $0.18. Standard Motor Products had a return on equity of 14.83% and a net margin of 5.55%. The company had revenue of $312.73 million during the quarter. During the same period last year, the company posted $0.88 earnings per share. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, analysts predict that Standard Motor Products, Inc. will post $2.87 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.76 dividend on an annualized basis and a yield of 1.66%. Standard Motor Products’s dividend payout ratio (DPR) is currently 28.36%.

ILLEGAL ACTIVITY NOTICE: “Standard Motor Products, Inc. (NYSE:SMP) Position Increased by Granite Investment Partners LLC” was first reported by Ticker Report and is the sole property of of Ticker Report. If you are viewing this news story on another publication, it was stolen and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this news story can be read at https://www.tickerreport.com/banking-finance/2799809/standard-motor-products-inc-nysesmp-position-increased-by-granite-investment-partners-llc.html.

Several equities analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Standard Motor Products from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a report on Tuesday, April 18th. BidaskClub lowered shares of Standard Motor Products from a “buy” rating to a “hold” rating in a report on Monday. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $56.00 price objective on shares of Standard Motor Products in a report on Wednesday, May 3rd.

In related news, VP Thomas Tesoro sold 3,950 shares of Standard Motor Products stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $47.91, for a total transaction of $189,244.50. Following the completion of the transaction, the vice president now directly owns 29,026 shares of the company’s stock, valued at approximately $1,390,635.66. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Frederick D. Sturdivant sold 2,000 shares of Standard Motor Products stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $50.75, for a total transaction of $101,500.00. Following the transaction, the director now directly owns 28,850 shares of the company’s stock, valued at $1,464,137.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,950 shares of company stock valued at $1,655,699. 6.60% of the stock is currently owned by corporate insiders.

Standard Motor Products Company 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.

Want to see what other hedge funds are holding SMP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Standard Motor Products, Inc. (NYSE:SMP).

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

Receive News & Ratings for Standard Motor Products Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Standard Motor Products Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


Leave a Reply

© 2006-2017 Ticker Report. Google+.