Orchard Capital Management LLC Boosts Stock Position in Standard Motor Products, Inc. (NYSE:SMP)

Orchard Capital Management LLC raised its stake in shares of Standard Motor Products, Inc. (NYSE:SMP) by 5.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 219,547 shares of the auto parts company’s stock after acquiring an additional 11,573 shares during the period. Standard Motor Products makes up 2.8% of Orchard Capital Management LLC’s investment portfolio, making the stock its 17th biggest holding. Orchard Capital Management LLC owned 1.01% of Standard Motor Products worth $8,740,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the business. Dimensional Fund Advisors LP raised its stake in shares of Standard Motor Products by 2.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,492,360 shares of the auto parts company’s stock worth $59,411,000 after buying an additional 31,688 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Standard Motor Products by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 1,343,609 shares of the auto parts company’s stock worth $45,172,000 after buying an additional 12,166 shares in the last quarter. Pacer Advisors Inc. purchased a new position in shares of Standard Motor Products during the 4th quarter worth approximately $38,215,000. Charles Schwab Investment Management Inc. raised its stake in shares of Standard Motor Products by 3.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 361,255 shares of the auto parts company’s stock worth $14,382,000 after buying an additional 13,101 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Standard Motor Products by 73.4% during the 3rd quarter. Invesco Ltd. now owns 216,723 shares of the auto parts company’s stock worth $7,286,000 after buying an additional 91,730 shares in the last quarter. 81.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SMP. StockNews.com raised Standard Motor Products from a “hold” rating to a “buy” rating in a research note on Friday, March 29th. Roth Mkm restated a “buy” rating and issued a $42.00 price target on shares of Standard Motor Products in a report on Thursday, May 23rd. Finally, TheStreet cut Standard Motor Products from a “b” rating to a “c+” rating in a report on Thursday, February 22nd.

Standard Motor Products Stock Performance

SMP opened at $27.67 on Friday. The stock has a market cap of $603.76 million, a P/E ratio of 19.91 and a beta of 0.55. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.66 and a quick ratio of 0.92. The stock’s 50 day simple moving average is $31.42 and its 200 day simple moving average is $35.08. Standard Motor Products, Inc. has a 1-year low of $27.14 and a 1-year high of $41.71.

Standard Motor Products (NYSE:SMP) last released its quarterly earnings results on Wednesday, May 1st. The auto parts company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.05. The business had revenue of $331.40 million for the quarter, compared to analysts’ expectations of $321.84 million. Standard Motor Products had a return on equity of 9.48% and a net margin of 2.28%. The company’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.61 EPS. As a group, equities analysts anticipate that Standard Motor Products, Inc. will post 2.99 EPS for the current fiscal year.

Standard Motor Products Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date was Tuesday, May 14th. 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.