Denali Advisors LLC Purchases 13,600 Shares of Standard Motor Products, Inc. (NYSE:SMP)

Denali Advisors LLC lifted its position in shares of Standard Motor Products, Inc. (NYSE:SMP) by 48.2% during the second quarter, Holdings Channel.com reports. The institutional investor owned 41,800 shares of the auto parts company’s stock after acquiring an additional 13,600 shares during the quarter. Denali Advisors LLC’s holdings in Standard Motor Products were worth $1,159,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP grew its position in shares of Standard Motor Products by 2.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,492,360 shares of the auto parts company’s stock worth $59,411,000 after buying an additional 31,688 shares in the last quarter. Great Lakes Advisors LLC purchased a new stake in shares of Standard Motor Products during the 4th quarter worth $2,507,000. Cornercap Investment Counsel Inc. lifted 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 worth $1,332,000 after purchasing an additional 21,843 shares during the last quarter. Azarias Capital Management L.P. purchased a new stake in shares of Standard Motor Products during the 2nd quarter worth $11,197,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Standard Motor Products by 3.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 361,255 shares of the auto parts company’s stock worth $14,382,000 after purchasing an additional 13,101 shares during the last quarter. Institutional investors own 81.26% of the company’s stock.

Standard Motor Products Trading Up 0.5 %

Standard Motor Products stock opened at $33.41 on Tuesday. The stock has a 50-day moving average of $31.09 and a two-hundred day moving average of $31.04. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.93 and a current ratio of 2.46. Standard Motor Products, Inc. has a one year low of $26.09 and a one year high of $41.71. The stock has a market cap of $728.84 million, a PE ratio of 24.04 and a beta of 0.52.

Standard Motor Products (NYSE:SMP) last released its quarterly earnings results on Thursday, August 1st. The auto parts company reported $0.98 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 company had revenue of $389.80 million during the quarter, compared to analysts’ expectations of $365.60 million. During the same period last year, the business posted $0.84 earnings per share. The firm’s revenue was up 10.4% compared to the same quarter last year. On average, research analysts anticipate that Standard Motor Products, Inc. will post 3.01 EPS for the current fiscal year.

Standard Motor Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend was Thursday, August 15th. Standard Motor Products’s dividend payout ratio (DPR) is presently 83.45%.

Analyst Ratings Changes

Separately, Roth Mkm restated a “buy” rating and set a $42.00 price objective on shares of Standard Motor Products in a research note on Thursday, May 23rd.

Standard Motor Products Company 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.