Invenomic Capital Management LP Cuts Stake in Standard Motor Products, Inc. (NYSE:SMP)

Invenomic Capital Management LP lowered its position in shares of Standard Motor Products, Inc. (NYSE:SMP) by 13.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 90,844 shares of the auto parts company’s stock after selling 14,537 shares during the quarter. Invenomic Capital Management LP’s holdings in Standard Motor Products were worth $2,814,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Inspire Investing LLC boosted its stake in shares of Standard Motor Products by 3.1% during the 4th quarter. Inspire Investing LLC now owns 12,896 shares of the auto parts company’s stock worth $400,000 after purchasing an additional 383 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Standard Motor Products by 5.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 9,421 shares of the auto parts company’s stock worth $292,000 after purchasing an additional 446 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Standard Motor Products by 20.6% during the 4th quarter. Farther Finance Advisors LLC now owns 2,651 shares of the auto parts company’s stock worth $82,000 after purchasing an additional 453 shares during the last quarter. Barclays PLC boosted its stake in shares of Standard Motor Products by 1.2% during the 4th quarter. Barclays PLC now owns 49,118 shares of the auto parts company’s stock worth $1,521,000 after purchasing an additional 596 shares during the last quarter. Finally, Illinois Municipal Retirement Fund boosted its stake in shares of Standard Motor Products by 6.1% during the 4th quarter. Illinois Municipal Retirement Fund now owns 10,467 shares of the auto parts company’s stock worth $324,000 after purchasing an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 81.26% of the company’s stock.

Standard Motor Products Trading Up 0.6%

Shares of SMP stock opened at $28.77 on Monday. The stock has a market cap of $632.39 million, a price-to-earnings ratio of 17.76 and a beta of 0.62. The company has a quick ratio of 0.82, a current ratio of 2.25 and a debt-to-equity ratio of 0.21. Standard Motor Products, Inc. has a fifty-two week low of $21.38 and a fifty-two week high of $35.92. The firm’s 50 day moving average price is $25.30 and its two-hundred day moving average price is $29.47.

Standard Motor Products (NYSE:SMP) last announced its quarterly earnings results on Wednesday, April 30th. The auto parts company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.37. The firm had revenue of $413.38 million for the quarter, compared to analysts’ expectations of $394.38 million. Standard Motor Products had a net margin of 2.56% and a return on equity of 10.42%. Standard Motor Products’s revenue was up 24.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.45 earnings per share. On average, analysts anticipate that Standard Motor Products, Inc. will post 3.08 EPS for the current year.

Standard Motor Products Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 4.31%. This is a boost from Standard Motor Products’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Thursday, May 15th. Standard Motor Products’s payout ratio is 88.57%.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, EVP Dale Burks sold 11,005 shares of Standard Motor Products stock in a transaction on Tuesday, March 11th. The shares were 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 in the company, valued at approximately $1,546,592. The trade was a 16.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.00% of the company’s stock.

About Standard Motor Products

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.