Thrivent Financial for Lutherans boosted its stake in Standard Motor Products, Inc. (NYSE:SMP) by 129.4% during the fourth quarter, Holdings Channel reports. The fund owned 23,380 shares of the company’s stock after buying an additional 13,190 shares during the period. Thrivent Financial for Lutherans’ holdings in Standard Motor Products were worth $1,244,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Tudor Investment Corp Et Al purchased a new stake in Standard Motor Products during the fourth quarter valued at about $451,000. GSA Capital Partners LLP purchased a new stake in Standard Motor Products during the fourth quarter valued at about $524,000. Public Sector Pension Investment Board raised its stake in Standard Motor Products by 4.4% in the fourth quarter. Public Sector Pension Investment Board now owns 14,354 shares of the company’s stock valued at $764,000 after buying an additional 600 shares during the last quarter. Renaissance Technologies LLC raised its stake in Standard Motor Products by 130.1% in the fourth quarter. Renaissance Technologies LLC now owns 48,100 shares of the company’s stock valued at $2,560,000 after buying an additional 27,200 shares during the last quarter. Finally, Zebra Capital Management LLC raised its stake in Standard Motor Products by 9.8% in the fourth quarter. Zebra Capital Management LLC now owns 31,000 shares of the company’s stock valued at $1,650,000 after buying an additional 2,779 shares during the last quarter. Hedge funds and other institutional investors own 80.83% of the company’s stock.
Standard Motor Products, Inc. (NYSE:SMP) opened at 49.06 on Monday. Standard Motor Products, Inc. has a one year low of $32.66 and a one year high of $55.37. The company has a 50 day moving average of $48.94 and a 200-day moving average of $49.28. The stock has a market capitalization of $1.12 billion, a P/E ratio of 18.77 and a beta of 1.81.
Standard Motor Products (NYSE:SMP) last released its quarterly earnings data on Thursday, February 16th. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.49 by $0.07. Standard Motor Products had a return on equity of 15.04% and a net margin of 5.54%. The business earned $229.80 million during the quarter. During the same period last year, the firm earned $0.35 EPS. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. Equities research analysts predict that Standard Motor Products, Inc. will post $3.20 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Wednesday, February 15th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.55%. This is an increase from Standard Motor Products’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Monday, February 13th. Standard Motor Products’s dividend payout ratio (DPR) is presently 30.52%.
Your IP Address:
Several research firms have recently issued reports on SMP. FBR & Co upped their target price on shares of Standard Motor Products from $40.00 to $48.00 and gave the stock a “mkt perform” rating in a research note on Friday, February 17th. Zacks Investment Research lowered shares of Standard Motor Products from a “hold” rating to a “sell” rating in a research note on Tuesday, January 31st. One research analyst has rated the stock with a sell rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $51.75.
In related news, VP Thomas Tesoro sold 1,000 shares of Standard Motor Products stock in a transaction dated Tuesday, February 21st. The stock was sold at an average price of $48.83, for a total value of $48,830.00. Following the completion of the sale, the vice president now directly owns 32,976 shares in the company, valued at approximately $1,610,218.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 6.50% of the stock is currently owned by company insiders.
About Standard Motor Products
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.
Want to see what other hedge funds are holding SMP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Standard Motor Products, Inc. (NYSE:SMP).
This story was originally published by sleekmoney (http://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://sleekmoney.com/standard-motor-products-inc-smp-position-boosted-by-thrivent-financial-for-lutherans/1708885.html
Receive News & Ratings for Standard Motor Products Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Standard Motor Products Inc. and related companies with MarketBeat.com's FREE daily email newsletter.