Invesco Ltd. Purchases 46,482 Shares of Standard Motor Products, Inc. (NYSE:SMP)

Invesco Ltd. increased its position in Standard Motor Products, Inc. (NYSE:SMP) by 32.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 189,589 shares of the auto parts company’s stock after purchasing an additional 46,482 shares during the period. Invesco Ltd. owned approximately 0.87% of Standard Motor Products worth $5,873,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of Standard Motor Products by 4.3% in the fourth quarter. Vanguard Group Inc. now owns 1,655,886 shares of the auto parts company’s stock valued at $51,299,000 after buying an additional 69,000 shares in the last quarter. William Blair Investment Management LLC lifted its position in Standard Motor Products by 2.1% in the 4th quarter. William Blair Investment Management LLC now owns 929,813 shares of the auto parts company’s stock valued at $28,806,000 after acquiring an additional 19,180 shares in the last quarter. American Century Companies Inc. boosted its stake in Standard Motor Products by 21.1% during the 4th quarter. American Century Companies Inc. now owns 497,258 shares of the auto parts company’s stock valued at $15,405,000 after purchasing an additional 86,640 shares during the last quarter. Geode Capital Management LLC increased its holdings in Standard Motor Products by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 494,489 shares of the auto parts company’s stock worth $15,323,000 after purchasing an additional 9,190 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Standard Motor Products by 26.7% in the fourth quarter. Bank of New York Mellon Corp now owns 331,078 shares of the auto parts company’s stock worth $10,257,000 after purchasing an additional 69,717 shares during the last quarter. Institutional investors and hedge funds own 81.26% of the company’s stock.

Insider Activity

In related news, EVP Dale Burks sold 11,005 shares of Standard Motor Products stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $27.20, for a total value of $299,336.00. Following the completion of the sale, the executive vice president now owns 56,860 shares of the company’s stock, valued at approximately $1,546,592. This trade represents a 16.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 5.00% of the company’s stock.

Standard Motor Products Trading Down 0.6 %

NYSE:SMP opened at $24.09 on Friday. Standard Motor Products, Inc. has a 52 week low of $21.38 and a 52 week high of $35.92. The firm has a 50-day moving average price of $25.84 and a two-hundred day moving average price of $29.71. The firm has a market cap of $526.66 million, a price-to-earnings ratio of 14.87 and a beta of 0.57. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.82 and a current ratio of 2.25.

Standard Motor Products (NYSE:SMP) last issued its quarterly earnings results on Thursday, February 27th. The auto parts company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.10. Standard Motor Products had a return on equity of 10.42% and a net margin of 2.56%. The business had revenue of $343.35 million for the quarter, compared to analyst estimates of $292.50 million. On average, equities analysts expect that Standard Motor Products, Inc. will post 3.08 earnings per share for the current fiscal year.

Standard Motor Products Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 4.82%. The ex-dividend date of this dividend was Friday, February 14th. Standard Motor Products’s dividend payout ratio is 100.81%.

Analysts Set New Price Targets

Separately, StockNews.com cut Standard Motor Products from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd.

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.