Standard Motor Products, Inc. $SMP Shares Sold by Azarias Capital Management L.P.

Azarias Capital Management L.P. cut its stake in Standard Motor Products, Inc. (NYSE:SMP) by 16.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 127,206 shares of the auto parts company’s stock after selling 24,735 shares during the period. Standard Motor Products accounts for 2.0% of Azarias Capital Management L.P.’s holdings, making the stock its 19th biggest holding. Azarias Capital Management L.P.’s holdings in Standard Motor Products were worth $4,419,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in SMP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Standard Motor Products by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,446 shares of the auto parts company’s stock valued at $310,000 after purchasing an additional 546 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Standard Motor Products in the 1st quarter valued at approximately $214,000. Empowered Funds LLC increased its position in Standard Motor Products by 3.0% in the 1st quarter. Empowered Funds LLC now owns 114,036 shares of the auto parts company’s stock valued at $2,843,000 after acquiring an additional 3,352 shares during the period. Jane Street Group LLC raised its stake in Standard Motor Products by 320.0% during the 1st quarter. Jane Street Group LLC now owns 64,037 shares of the auto parts company’s stock valued at $1,596,000 after acquiring an additional 48,790 shares in the last quarter. Finally, Creative Planning bought a new stake in Standard Motor Products during the 2nd quarter valued at $431,000. 81.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SMP has been the topic of a number of research analyst reports. Wall Street Zen lowered Standard Motor Products from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 7th. Zacks Research lowered shares of Standard Motor Products from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 12th. Finally, Weiss Ratings cut shares of Standard Motor Products from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 20th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $49.00.

Standard Motor Products Stock Down 0.1%

Shares of Standard Motor Products stock opened at $39.38 on Monday. The company has a quick ratio of 0.78, a current ratio of 2.23 and a debt-to-equity ratio of 0.86. Standard Motor Products, Inc. has a 12-month low of $29.44 and a 12-month high of $46.00. The firm has a market capitalization of $876.51 million, a PE ratio of 19.30 and a beta of 0.81. The stock’s fifty day moving average is $38.39 and its 200-day moving average is $38.67.

Standard Motor Products (NYSE:SMP) last issued its quarterly earnings results on Thursday, April 30th. The auto parts company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.09. The firm had revenue of $451.17 million for the quarter, compared to analysts’ expectations of $429.07 million. Standard Motor Products had a return on equity of 12.98% and a net margin of 2.51%. Equities analysts anticipate that Standard Motor Products, Inc. will post 4.4 earnings per share for the current year.

Standard Motor Products Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Friday, May 15th. Standard Motor Products’s dividend payout ratio (DPR) is 64.71%.

Insider Activity

In other news, VP Ray Nicholas sold 5,822 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $39.75, for a total transaction of $231,424.50. Following the sale, the vice president owned 35,327 shares in the company, valued at $1,404,248.25. The trade was a 14.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.00% of the stock is owned by corporate insiders.

Standard Motor Products Profile

Standard Motor Products, Inc, headquartered in Long Island City, New York, is a leading manufacturer and distributor of aftermarket and original equipment automotive parts. Since its founding in 1919, the company has focused on engineering, testing, and supplying ignition and temperature management products for passenger cars and light trucks. Its product lineup includes ignition coils, spark plug wires, sensors, switches, heating and air conditioning controls, and related electronic components.

The company operates through two primary segments: Engine Management and Temperature Control.