Palisade Capital Management LLC NJ Takes Position in Standard Motor Products, Inc. (SMP)

Palisade Capital Management LLC NJ bought a new position in Standard Motor Products, Inc. (NYSE:SMP) during the second quarter, according to its most recent filing with the SEC. The institutional investor bought 55,455 shares of the auto parts company’s stock, valued at approximately $2,896,000. Palisade Capital Management LLC NJ owned about 0.24% of Standard Motor Products as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Renaissance Technologies LLC increased its stake in Standard Motor Products by 130.1% in the fourth quarter. Renaissance Technologies LLC now owns 48,100 shares of the auto parts company’s stock worth $2,560,000 after buying an additional 27,200 shares during the period. Teachers Advisors LLC increased its stake in Standard Motor Products by 4.5% in the fourth quarter. Teachers Advisors LLC now owns 36,176 shares of the auto parts company’s stock worth $1,925,000 after buying an additional 1,566 shares during the period. Louisiana State Employees Retirement System increased its stake in Standard Motor Products by 1.2% in the first quarter. Louisiana State Employees Retirement System now owns 8,200 shares of the auto parts company’s stock worth $403,000 after buying an additional 100 shares during the period. State of Alaska Department of Revenue increased its stake in Standard Motor Products by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 2,220 shares of the auto parts company’s stock worth $109,000 after buying an additional 60 shares during the period. Finally, Granite Investment Partners LLC increased its stake in Standard Motor Products by 9.3% in the first quarter. Granite Investment Partners LLC now owns 221,795 shares of the auto parts company’s stock worth $10,899,000 after buying an additional 18,895 shares during the period. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Shares of Standard Motor Products, Inc. (NYSE SMP) traded up 1.42% during trading on Friday, reaching $44.21. 131,015 shares of the company traded hands. Standard Motor Products, Inc. has a 52 week low of $42.70 and a 52 week high of $55.37. The stock has a market capitalization of $1.01 billion, a PE ratio of 16.48 and a beta of 1.81. The firm has a 50 day moving average of $49.44 and a 200 day moving average of $49.39.

Standard Motor Products (NYSE:SMP) last issued its earnings results on Monday, July 31st. The auto parts company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by $0.18. Standard Motor Products had a return on equity of 14.83% and a net margin of 5.55%. The firm had revenue of $312.73 million for the quarter. During the same quarter in the previous year, the business earned $0.88 earnings per share. Standard Motor Products’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, equities analysts predict that Standard Motor Products, Inc. will post $2.87 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend is Friday, August 11th. Standard Motor Products’s dividend payout ratio (DPR) is presently 28.36%.

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SMP has been the topic of a number of research reports. Jefferies Group LLC restated a “buy” rating and issued a $56.00 target price on shares of Standard Motor Products in a report on Wednesday, May 3rd. Zacks Investment Research upgraded shares of Standard Motor Products from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a report on Friday, May 5th. Finally, BidaskClub upgraded shares of Standard Motor Products from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th.

In other Standard Motor Products news, Director Frederick D. Sturdivant sold 4,000 shares of Standard Motor Products stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $50.88, for a total transaction of $203,520.00. Following the transaction, the director now directly owns 26,850 shares of the company’s stock, valued at $1,366,128. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas Tesoro sold 3,950 shares of Standard Motor Products stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $47.91, for a total transaction of $189,244.50. Following the transaction, the vice president now directly owns 29,026 shares in the company, valued at $1,390,635.66. The disclosure for this sale can be found here. Insiders have sold 32,750 shares of company stock worth $1,645,693 over the last ninety days. 6.60% of the stock is owned by insiders.

Standard Motor Products Company Profile

Standard Motor Products, Inc is an independent manufacturer and distributor of replacement parts for motor vehicles in the automotive aftermarket industry with a complementary focus on heavy duty, industrial equipment and the original equipment service market. The Company’s segments include Engine Management Segment and Temperature Control Segment.

Institutional Ownership by Quarter for Standard Motor Products (NYSE:SMP)

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