Geode Capital Management LLC Acquires 27,210 Shares of Standard Motor Products, Inc. (NYSE:SMP)

Geode Capital Management LLC lifted its holdings in Standard Motor Products, Inc. (NYSE:SMP) by 5.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 485,299 shares of the auto parts company’s stock after buying an additional 27,210 shares during the quarter. Geode Capital Management LLC’s holdings in Standard Motor Products were worth $16,115,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its position in shares of Standard Motor Products by 1.6% during the second quarter. Bank of New York Mellon Corp now owns 271,823 shares of the auto parts company’s stock worth $7,538,000 after buying an additional 4,391 shares during the period. Innealta Capital LLC bought a new position in shares of Standard Motor Products in the 2nd quarter valued at about $25,000. Foundry Partners LLC grew its stake in Standard Motor Products by 11.8% in the second quarter. Foundry Partners LLC now owns 154,845 shares of the auto parts company’s stock valued at $4,294,000 after purchasing an additional 16,325 shares in the last quarter. Texas Permanent School Fund Corp increased its position in shares of Standard Motor Products by 52.8% during the 2nd quarter. Texas Permanent School Fund Corp now owns 24,996 shares of the auto parts company’s stock worth $693,000 after purchasing an additional 8,641 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Standard Motor Products by 19.5% in the 2nd quarter. American Century Companies Inc. now owns 338,931 shares of the auto parts company’s stock valued at $9,399,000 after buying an additional 55,327 shares during the last quarter. Institutional investors and hedge funds own 81.26% of the company’s stock.

Insider Activity

In related news, VP Ray Nicholas sold 4,730 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $34.11, for a total transaction of $161,340.30. Following the sale, the vice president now owns 46,385 shares in the company, valued at $1,582,192.35. The trade was a 9.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Carmine Joseph Broccole sold 913 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $34.96, for a total value of $31,918.48. Following the completion of the transaction, the insider now owns 81,241 shares of the company’s stock, valued at $2,840,185.36. This represents a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,184 shares of company stock worth $387,041. 5.00% of the stock is currently owned by corporate insiders.

Standard Motor Products Stock Performance

NYSE SMP opened at $31.01 on Monday. The firm’s fifty day moving average price is $32.44 and its two-hundred day moving average price is $31.35. 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 $673.60 million, a P/E ratio of 19.14 and a beta of 0.52. The company has a current ratio of 2.25, a quick ratio of 0.82 and a debt-to-equity ratio of 0.21.

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 (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.19. The business had revenue of $399.27 million during the quarter, compared to the consensus estimate of $396.10 million. Standard Motor Products had a return on equity of 10.42% and a net margin of 2.56%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.11 EPS. As a group, research analysts anticipate that Standard Motor Products, Inc. will post 3.08 EPS for the current year.

Standard Motor Products Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.16 dividend on an annualized basis and a yield of 3.74%. Standard Motor Products’s dividend payout ratio (DPR) is presently 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.