Hennion & Walsh Asset Management Inc. Invests $207,000 in Standard Motor Products, Inc. (NYSE:SMP)

Hennion & Walsh Asset Management Inc. bought a new position in Standard Motor Products, Inc. (NYSE:SMP) in the 3rd quarter, HoldingsChannel reports. The fund bought 6,243 shares of the auto parts company’s stock, valued at approximately $207,000.

Other hedge funds also recently made changes to their positions in the company. Cornercap Investment Counsel Inc. grew its position in shares of Standard Motor Products by 83.4% in the 2nd quarter. Cornercap Investment Counsel Inc. now owns 48,025 shares of the auto parts company’s stock worth $1,332,000 after acquiring an additional 21,843 shares in the last quarter. Azarias Capital Management L.P. acquired a new position in Standard Motor Products during the 2nd quarter valued at approximately $11,197,000. CWM LLC boosted its position in Standard Motor Products by 3.5% during the 3rd quarter. CWM LLC now owns 24,944 shares of the auto parts company’s stock valued at $828,000 after purchasing an additional 833 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in Standard Motor Products during the 1st quarter valued at approximately $301,000. Finally, GAMMA Investing LLC boosted its position in Standard Motor Products by 153.8% during the 3rd quarter. GAMMA Investing LLC now owns 906 shares of the auto parts company’s stock valued at $30,000 after purchasing an additional 549 shares during the period. Institutional investors and hedge funds own 81.26% of the company’s stock.

Standard Motor Products Trading Up 18.7 %

NYSE:SMP opened at $34.03 on Thursday. 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 $738.79 million, a P/E ratio of 19.49 and a beta of 0.51. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.46 and a quick ratio of 0.93. The business has a 50 day simple moving average of $31.73 and a 200 day simple moving average of $30.89.

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

Standard Motor Products Profile

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.