Wakefield Asset Management LLLP Invests $1.14 Million in Standard Motor Products, Inc. $SMP

Wakefield Asset Management LLLP purchased a new position in shares of Standard Motor Products, Inc. (NYSE:SMP) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 37,187 shares of the auto parts company’s stock, valued at approximately $1,142,000. Wakefield Asset Management LLLP owned about 0.17% of Standard Motor Products as of its most recent SEC filing.

Several other large investors also recently modified their holdings of SMP. Principal Financial Group Inc. increased its stake in shares of Standard Motor Products by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 111,541 shares of the auto parts company’s stock worth $2,781,000 after purchasing an additional 2,857 shares during the last quarter. Bailard Inc. purchased a new stake in shares of Standard Motor Products during the 1st quarter worth approximately $332,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Standard Motor Products during the 1st quarter worth approximately $225,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Standard Motor Products during the 1st quarter worth approximately $227,000. Finally, Legato Capital Management LLC increased its stake in shares of Standard Motor Products by 28.3% during the 1st quarter. Legato Capital Management LLC now owns 42,534 shares of the auto parts company’s stock worth $1,060,000 after purchasing an additional 9,380 shares during the last quarter. Hedge funds and other institutional investors own 81.26% of the company’s stock.

Standard Motor Products Stock Down 4.8%

SMP opened at $37.17 on Friday. The company has a 50 day moving average of $39.78 and a 200 day moving average of $34.08. The company has a market cap of $817.37 million, a PE ratio of 21.12 and a beta of 0.67. Standard Motor Products, Inc. has a 12 month low of $21.38 and a 12 month high of $42.13. The company has a current ratio of 2.16, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86.

Standard Motor Products (NYSE:SMP) last announced its quarterly earnings results on Friday, October 31st. The auto parts company reported $1.36 EPS for the quarter, beating the consensus estimate of $1.14 by $0.22. Standard Motor Products had a net margin of 2.39% and a return on equity of 12.98%. The firm had revenue of $498.84 million during the quarter, compared to the consensus estimate of $503.33 million. On average, sell-side analysts expect that Standard Motor Products, Inc. will post 3.08 EPS for the current year.

Standard Motor Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Friday, November 14th. Standard Motor Products’s dividend payout ratio (DPR) is presently 70.45%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SMP. Weiss Ratings restated a “hold (c+)” rating on shares of Standard Motor Products in a research note on Thursday. Zacks Research raised shares of Standard Motor Products from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. Finally, Wall Street Zen raised shares of Standard Motor Products from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 26th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy”.

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.