Standard Motor Products, Inc. (NYSE:SMP) Shares Sold by Kestrel Investment Management Corp

Kestrel Investment Management Corp lowered its stake in shares of Standard Motor Products, Inc. (NYSE:SMP) by 15.5% in the fourth quarter, HoldingsChannel reports. The firm owned 66,900 shares of the auto parts company’s stock after selling 12,300 shares during the quarter. Standard Motor Products makes up approximately 1.8% of Kestrel Investment Management Corp’s holdings, making the stock its 29th largest holding. Kestrel Investment Management Corp’s holdings in Standard Motor Products were worth $2,663,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SMP. Envestnet Asset Management Inc. boosted its position in Standard Motor Products by 17.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 7,983 shares of the auto parts company’s stock valued at $344,000 after purchasing an additional 1,185 shares during the period. Raymond James & Associates boosted its position in Standard Motor Products by 12.4% during the 1st quarter. Raymond James & Associates now owns 50,840 shares of the auto parts company’s stock valued at $2,193,000 after purchasing an additional 5,610 shares during the period. Bank of New York Mellon Corp boosted its position in Standard Motor Products by 2.0% during the 1st quarter. Bank of New York Mellon Corp now owns 261,309 shares of the auto parts company’s stock worth $11,273,000 after acquiring an additional 5,202 shares during the period. Citigroup Inc. boosted its position in Standard Motor Products by 3.5% during the 1st quarter. Citigroup Inc. now owns 17,420 shares of the auto parts company’s stock worth $751,000 after acquiring an additional 586 shares during the period. Finally, MetLife Investment Management LLC boosted its position in Standard Motor Products by 56.5% during the 1st quarter. MetLife Investment Management LLC now owns 10,831 shares of the auto parts company’s stock worth $467,000 after acquiring an additional 3,910 shares during the period. Institutional investors and hedge funds own 81.26% of the company’s stock.

Standard Motor Products Stock Performance

SMP stock traded up $0.40 during trading on Friday, reaching $32.50. 139,238 shares of the company’s stock were exchanged, compared to its average volume of 127,935. The company has a quick ratio of 0.78, a current ratio of 2.45 and a debt-to-equity ratio of 0.23. Standard Motor Products, Inc. has a 1-year low of $30.09 and a 1-year high of $41.71. The company’s fifty day moving average price is $33.64 and its 200-day moving average price is $35.89. The firm has a market cap of $733.85 million, a PE ratio of 21.10 and a beta of 0.61.

Standard Motor Products (NYSE:SMP) last posted its quarterly earnings data on Thursday, February 22nd. The auto parts company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.25). Standard Motor Products had a return on equity of 10.09% and a net margin of 2.51%. The firm had revenue of $290.76 million during the quarter, compared to the consensus estimate of $313.84 million. On average, research analysts expect that Standard Motor Products, Inc. will post 3.03 EPS for the current fiscal year.

Standard Motor Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Thursday, February 15th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date was Wednesday, February 14th. Standard Motor Products’s dividend payout ratio is presently 75.32%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. StockNews.com upgraded Standard Motor Products from a “hold” rating to a “buy” rating in a research report on Friday, March 29th. TheStreet lowered Standard Motor Products from a “b” rating to a “c+” rating in a research report on Thursday, February 22nd.

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.