State of Alaska Department of Revenue Buys 745 Shares of Standard Motor Products, Inc. (NYSE:SMP)

State of Alaska Department of Revenue boosted its stake in shares of Standard Motor Products, Inc. (NYSE:SMP) by 6.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 11,760 shares of the auto parts company’s stock after purchasing an additional 745 shares during the period. State of Alaska Department of Revenue’s holdings in Standard Motor Products were worth $390,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Cornercap Investment Counsel Inc. increased its position in shares of Standard Motor Products by 83.4% during the second 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 during the period. Azarias Capital Management L.P. bought a new position in Standard Motor Products in the second quarter worth approximately $11,197,000. CWM LLC increased its holdings 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 worth $828,000 after purchasing an additional 833 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Standard Motor Products during the 1st quarter valued at $301,000. Finally, GAMMA Investing LLC lifted 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 buying an additional 549 shares during the period. 81.26% of the stock is owned by hedge funds and other institutional investors.

Standard Motor Products Stock Performance

Shares of Standard Motor Products stock opened at $34.98 on Friday. The company has a current ratio of 2.25, a quick ratio of 0.82 and a debt-to-equity ratio of 0.21. The stock’s fifty day moving average price is $32.02 and its 200-day moving average price is $31.00. The firm has a market cap of $759.84 million, a P/E ratio of 21.59 and a beta of 0.51. Standard Motor Products, Inc. has a 12 month low of $26.09 and a 12 month high of $41.71.

Standard Motor Products (NYSE:SMP) last posted its earnings results on Wednesday, October 30th. The auto parts company reported $1.28 EPS 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 business had revenue of $399.27 million for the quarter, compared to the consensus estimate of $396.10 million. During the same quarter last year, the firm posted $1.11 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, equities research analysts expect that Standard Motor Products, Inc. will post 3.03 earnings per share for the current fiscal year.

Standard Motor Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be issued 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 payout ratio is 71.60%.

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.