International Assets Investment Management LLC Increases Stake in Standard Motor Products, Inc. (NYSE:SMP)

International Assets Investment Management LLC boosted its stake in Standard Motor Products, Inc. (NYSE:SMP) by 3,237.5% in the third quarter, Holdings Channel.com reports. The firm owned 4,005 shares of the auto parts company’s stock after acquiring an additional 3,885 shares during the quarter. International Assets Investment Management LLC’s holdings in Standard Motor Products were worth $121,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Cornercap Investment Counsel Inc. grew its stake in shares of Standard Motor Products by 83.4% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 48,025 shares of the auto parts company’s stock valued at $1,332,000 after buying an additional 21,843 shares during the period. Azarias Capital Management L.P. acquired a new position in Standard Motor Products in the second quarter valued at $11,197,000. CWM LLC grew its position in Standard Motor Products by 3.5% during the third quarter. CWM LLC now owns 24,944 shares of the auto parts company’s stock valued at $828,000 after acquiring an additional 833 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in Standard Motor Products during the first quarter worth about $301,000. Finally, GAMMA Investing LLC raised its holdings in shares of Standard Motor Products by 153.8% in the 3rd quarter. GAMMA Investing LLC now owns 906 shares of the auto parts company’s stock worth $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 Stock Performance

NYSE SMP opened at $34.93 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.25 and a quick ratio of 0.82. Standard Motor Products, Inc. has a 1-year low of $26.09 and a 1-year high of $41.71. The firm has a market capitalization of $758.68 million, a P/E ratio of 21.56 and a beta of 0.51. The business’s 50-day simple moving average is $31.97 and its 200-day simple moving average is $30.98.

Standard Motor Products (NYSE:SMP) last announced its quarterly earnings results on Wednesday, October 30th. The auto parts company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $399.27 million for the quarter, compared to analysts’ expectations of $396.10 million. During the same period in the previous year, the company posted $1.11 earnings per share. Standard Motor Products’s revenue was up 3.3% compared to the same quarter last year. Equities analysts predict that Standard Motor Products, Inc. will post 3.03 EPS for the current year.

Standard Motor Products Announces Dividend

The company 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 dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend is Friday, November 15th. Standard Motor Products’s dividend payout ratio (DPR) is 71.61%.

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.