By otakuyassine3@gmail.com 
Prudential Financial Inc. increased its stake in shares of Standard Motor Products, Inc. (NYSE:SMP – Free Report) by 6.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,923 shares of the auto parts company’s stock after purchasing an additional 5,500 shares during the quarter. Prudential Financial Inc. owned about 0.39% of Standard Motor Products worth $2,631,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Versant Capital Management Inc lifted its position in Standard Motor Products by 147.2% during the 4th quarter. Versant Capital Management Inc now owns 1,031 shares of the auto parts company’s stock valued at $32,000 after purchasing an additional 614 shares during the period. FMR LLC boosted its stake in Standard Motor Products by 64.6% in the third quarter. FMR LLC now owns 1,745 shares of the auto parts company’s stock valued at $58,000 after acquiring an additional 685 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in Standard Motor Products by 20.6% during the 4th quarter. Farther Finance Advisors LLC now owns 2,651 shares of the auto parts company’s stock worth $82,000 after acquiring an additional 453 shares during the period. Magnetar Financial LLC bought a new stake in shares of Standard Motor Products during the 4th quarter valued at $244,000. Finally, Semanteon Capital Management LP acquired a new position in shares of Standard Motor Products in the 4th quarter valued at $289,000. Institutional investors and hedge funds own 81.26% of the company’s stock.
Insider Activity
In other news, EVP Dale Burks sold 11,005 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $27.20, for a total transaction of $299,336.00. Following the completion of the sale, the executive vice president now owns 56,860 shares in the company, valued at approximately $1,546,592. This trade represents a 16.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 5.00% of the company’s stock.
Wall Street Analyst Weigh In
Separately, StockNews.com cut Standard Motor Products from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd.
Get Our Latest Stock Report on Standard Motor Products
Standard Motor Products Stock Down 4.3 %
Standard Motor Products stock opened at $23.96 on Friday. The company has a 50 day moving average of $28.67 and a 200-day moving average of $30.89. The company has a quick ratio of 0.82, a current ratio of 2.25 and a debt-to-equity ratio of 0.21. Standard Motor Products, Inc. has a twelve month low of $23.56 and a twelve month high of $35.92. The stock has a market capitalization of $523.70 million, a PE ratio of 14.79 and a beta of 0.50.
Standard Motor Products (NYSE:SMP – Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The auto parts company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.37 by $0.10. The firm had revenue of $343.35 million for the quarter, compared to analysts’ expectations of $292.50 million. Standard Motor Products had a net margin of 2.56% and a return on equity of 10.42%. On average, equities research analysts anticipate that Standard Motor Products, Inc. will post 3.08 EPS for the current fiscal year.
Standard Motor Products Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date was Friday, February 14th. Standard Motor Products’s dividend payout ratio (DPR) is presently 100.81%.
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.
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