Segall Bryant & Hamill LLC Acquires New Holdings in Standard Motor Products, Inc. $SMP
Segall Bryant & Hamill LLC acquired 40,715 shares of Standard Motor Products, valued at $1,251,000, during Q2. Institutional investors own 81.26% of SMP stock. Insiders sold 6,802 shares recently. SMP stock rose 2.0%, with a market cap of $840.38 million. Q3 EPS was $1.36, beating estimates. SMP announced a $0.31 quarterly dividend. Analysts maintain positive ratings.
Segall Bryant & Hamill LLC bought a new position in shares of Standard Motor Products, Inc. (NYSE:SMP - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 40,715 shares of the auto parts company's stock, valued at approximately $1,251,000. Segall Bryant & Hamill LLC owned 0.19% of Standard Motor Products at the end of the most recent reporting period.
- Standard Motor Products Stock is Ready to Roar
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC raised its stake in shares of Standard Motor Products by 4,842.1% during the second quarter. Nisa Investment Advisors LLC now owns 939 shares of the auto parts company's stock valued at $29,000 after acquiring an additional 920 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Standard Motor Products by 188.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,295 shares of the auto parts company's stock worth $57,000 after purchasing an additional 1,499 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in Standard Motor Products by 26.7% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 5,609 shares of the auto parts company's stock worth $172,000 after buying an additional 1,182 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Standard Motor Products in the 1st quarter valued at about $214,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Standard Motor Products in the 1st quarter valued at about $225,000. 81.26% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Standard Motor Products
In other Standard Motor Products news, EVP Dale Burks sold 1,180 shares of the firm's stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $38.30, for a total value of $45,194.00. Following the completion of the sale, the executive vice president owned 60,216 shares of the company's stock, valued at approximately $2,306,272.80. This trade represents a 1.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Nathan R. Iles sold 1,356 shares of the business's stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $38.30, for a total value of $51,934.80. Following the sale, the chief financial officer owned 37,468 shares of the company's stock, valued at approximately $1,435,024.40. This represents a 3.49% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 6,802 shares of company stock valued at $260,590. 5.00% of the stock is currently owned by corporate insiders.
Standard Motor Products Trading Up 2.0%
Shares of SMP stock opened at $38.20 on Wednesday. Standard Motor Products, Inc. has a fifty-two week low of $21.38 and a fifty-two week high of $42.13. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 2.16. The stock has a 50 day simple moving average of $39.09 and a two-hundred day simple moving average of $35.56. The company has a market cap of $840.38 million, a P/E ratio of 21.71 and a beta of 0.68.
Standard Motor Products (NYSE:SMP - Get Free Report) last announced its quarterly earnings data on Friday, October 31st. The auto parts company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.14 by $0.22. The company had revenue of $498.84 million during the quarter, compared to the consensus estimate of $503.33 million. Standard Motor Products had a net margin of 2.39% and a return on equity of 12.98%. Research analysts forecast that Standard Motor Products, Inc. will post 3.08 earnings per share for the current year.
Standard Motor Products Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, November 14th. Standard Motor Products's dividend payout ratio is 88.57%.
Analyst Ratings Changes
A number of brokerages have recently issued reports on SMP. Roth Capital restated a "buy" rating and set a $49.00 price objective on shares of Standard Motor Products in a research report on Monday, November 3rd. Weiss Ratings restated a "hold (c)" rating on shares of Standard Motor Products in a report on Wednesday, November 19th. Finally, Zacks Research raised shares of Standard Motor Products from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Standard Motor Products has a consensus rating of "Buy" and an average price target of $49.00.
View Our Latest Stock Analysis on Standard Motor Products
Standard Motor Products Profile
(Free Report)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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