Ieq Capital LLC Sells 2,141 Shares of Standard Motor Products, Inc. (NYSE:SMP)

Ieq Capital LLC lessened its stake in Standard Motor Products, Inc. (NYSE:SMP) by 15.8% during the fourth quarter, HoldingsChannel reports. The firm owned 11,377 shares of the auto parts company’s stock after selling 2,141 shares during the period. Ieq Capital LLC’s holdings in Standard Motor Products were worth $352,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Versant Capital Management Inc raised its position in shares of Standard Motor Products by 147.2% in the fourth quarter. Versant Capital Management Inc now owns 1,031 shares of the auto parts company’s stock valued at $32,000 after purchasing an additional 614 shares during the period. FMR LLC grew its stake in Standard Motor Products by 64.6% in the 3rd quarter. FMR LLC now owns 1,745 shares of the auto parts company’s stock valued at $58,000 after buying an additional 685 shares in the last quarter. Farther Finance Advisors LLC bought a new stake in Standard Motor Products during the 3rd quarter valued at $73,000. International Assets Investment Management LLC lifted its position in shares of Standard Motor Products by 3,237.5% during the third quarter. International Assets Investment Management LLC now owns 4,005 shares of the auto parts company’s stock worth $121,000 after acquiring an additional 3,885 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. bought a new position in shares of Standard Motor Products in the third quarter worth $207,000. Institutional investors own 81.26% of the company’s stock.

Insider Buying and Selling at Standard Motor Products

In other news, VP Ray Nicholas sold 4,730 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $34.11, for a total value of $161,340.30. Following the completion of the transaction, the vice president now owns 46,385 shares in the company, valued at $1,582,192.35. This trade represents a 9.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 5.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Standard Motor Products from a “buy” rating to a “strong-buy” rating in a report on Friday, January 31st.

Standard Motor Products Price Performance

Shares of Standard Motor Products stock opened at $28.75 on Friday. The business’s 50-day moving average price is $30.90 and its 200-day moving average price is $31.76. The firm has a market capitalization of $624.51 million, a PE ratio of 17.75 and a beta of 0.52. Standard Motor Products, Inc. has a 12 month low of $26.09 and a 12 month high of $35.92. The company has a current ratio of 2.25, a quick ratio of 0.82 and a debt-to-equity ratio of 0.21.

Standard Motor Products (NYSE:SMP) last announced 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. The business had revenue of $343.35 million for the quarter, compared to analysts’ expectations of $292.50 million. Standard Motor Products had a return on equity of 10.42% and a net margin of 2.56%. Sell-side analysts forecast that Standard Motor Products, Inc. will post 3.08 EPS for the current fiscal year.

Standard Motor Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued a $0.29 dividend. The ex-dividend date is Friday, February 14th. This represents a $1.16 annualized dividend and a yield of 4.03%. Standard Motor Products’s dividend payout ratio (DPR) is presently 76.54%.

Standard Motor Products Company 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.