US Bancorp DE Acquires 5,267 Shares of Standard Motor Products, Inc. (NYSE:SMP)

US Bancorp DE grew its holdings in Standard Motor Products, Inc. (NYSE:SMP) by 142.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,977 shares of the auto parts company’s stock after purchasing an additional 5,267 shares during the period. US Bancorp DE’s holdings in Standard Motor Products were worth $390,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of SMP. Investment Counselors of Maryland LLC increased its holdings in shares of Standard Motor Products by 37.4% in the 1st quarter. Investment Counselors of Maryland LLC now owns 963,412 shares of the auto parts company’s stock worth $40,059,000 after purchasing an additional 262,059 shares in the last quarter. Millennium Management LLC purchased a new position in shares of Standard Motor Products in the 1st quarter worth $7,559,000. Royce & Associates LP boosted its stake in shares of Standard Motor Products by 16.7% in the 1st quarter. Royce & Associates LP now owns 1,148,654 shares of the auto parts company’s stock worth $47,761,000 after buying an additional 164,500 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Standard Motor Products by 95.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 283,066 shares of the auto parts company’s stock worth $11,770,000 after buying an additional 138,204 shares during the last quarter. Finally, Citadel Advisors LLC boosted its stake in shares of Standard Motor Products by 286.9% in the 1st quarter. Citadel Advisors LLC now owns 185,651 shares of the auto parts company’s stock worth $7,719,000 after buying an additional 137,671 shares during the last quarter. 76.82% of the stock is owned by institutional investors and hedge funds.

NYSE SMP opened at $41.11 on Wednesday. The company has a market capitalization of $913.51 million, a PE ratio of 10.88 and a beta of 0.39. The business’s fifty day moving average is $42.82 and its 200 day moving average is $43.81. Standard Motor Products, Inc. has a fifty-two week low of $39.09 and a fifty-two week high of $55.29.

Standard Motor Products (NYSE:SMP) last released its earnings results on Wednesday, August 4th. The auto parts company reported $1.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.60. The company had revenue of $342.10 million for the quarter, compared to the consensus estimate of $270.70 million. Standard Motor Products had a return on equity of 19.85% and a net margin of 6.90%. Standard Motor Products’s quarterly revenue was up 38.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.52 earnings per share. Sell-side analysts anticipate that Standard Motor Products, Inc. will post 3.89 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 1st. Investors of record on Monday, August 16th were given a dividend of $0.25 per share. The ex-dividend date was Friday, August 13th. This represents a $1.00 annualized dividend and a yield of 2.43%. Standard Motor Products’s dividend payout ratio (DPR) is presently 27.70%.

In other Standard Motor Products news, Director Peter J. Sills sold 2,841 shares of the firm’s stock in a transaction dated Monday, August 16th. The stock was sold at an average price of $43.48, for a total transaction of $123,526.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Thomas Tesoro sold 1,500 shares of Standard Motor Products stock in a transaction dated Friday, August 6th. The stock was sold at an average price of $42.99, for a total value of $64,485.00. Following the completion of the sale, the senior vice president now directly owns 21,729 shares in the company, valued at $934,129.71. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,915 shares of company stock worth $771,263. Insiders own 6.60% of the company’s stock.

A number of equities analysts have recently issued reports on the company. Zacks Investment Research downgraded Standard Motor Products from a “buy” rating to a “hold” rating and set a $44.00 price target on the stock. in a research note on Tuesday, August 3rd. TheStreet downgraded Standard Motor Products from a “b” rating to a “c+” rating in a research note on Thursday, August 12th.

About Standard Motor Products

Standard Motor Products, Inc engages in the manufacture, distribution, and market of replacement parts for motor vehicles in the automotive aftermarket industry. It operates through the following segments: Engine Management and Temperature Control. The Engine Management segment produces and remanufactures ignition and emission parts, ignition wires, battery cables, fuel system parts and sensors for vehicle systems.

Recommended Story: What is a resistance level?

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).

Institutional Ownership by Quarter for Standard Motor Products (NYSE:SMP)

Receive News & Ratings for Standard Motor Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Standard Motor Products and related companies with MarketBeat.com's FREE daily email newsletter.