BNP Paribas Arbitrage SA Increases Holdings in Standard Motor Products, Inc. (SMP)

BNP Paribas Arbitrage SA raised its position in Standard Motor Products, Inc. (NYSE:SMP) by 31.9% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 7,039 shares of the auto parts company’s stock after acquiring an additional 1,702 shares during the period. BNP Paribas Arbitrage SA’s holdings in Standard Motor Products were worth $368,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the business. Suntrust Banks Inc. grew its stake in Standard Motor Products by 1.0% in the first quarter. Suntrust Banks Inc. now owns 5,885 shares of the auto parts company’s stock valued at $289,000 after acquiring an additional 56 shares during the period. Municipal Employees Retirement System of Michigan grew its stake in Standard Motor Products by 1.0% in the second quarter. Municipal Employees Retirement System of Michigan now owns 6,350 shares of the auto parts company’s stock valued at $332,000 after acquiring an additional 60 shares during the period. Louisiana State Employees Retirement System grew its stake in Standard Motor Products by 1.2% in the first quarter. Louisiana State Employees Retirement System now owns 8,200 shares of the auto parts company’s stock valued at $403,000 after acquiring an additional 100 shares during the period. Texas Permanent School Fund grew its stake in Standard Motor Products by 0.8% in the second quarter. Texas Permanent School Fund now owns 14,663 shares of the auto parts company’s stock valued at $766,000 after acquiring an additional 113 shares during the period. Finally, Arizona State Retirement System grew its stake in Standard Motor Products by 1.9% in the first quarter. Arizona State Retirement System now owns 10,498 shares of the auto parts company’s stock valued at $516,000 after acquiring an additional 200 shares during the period. 78.40% of the stock is owned by hedge funds and other institutional investors.

In related news, VP Ray Nicholas sold 1,331 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $45.25, for a total value of $60,227.75. Following the sale, the vice president now owns 30,250 shares in the company, valued at approximately $1,368,812.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas Tesoro sold 3,950 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $47.91, for a total value of $189,244.50. Following the completion of the sale, the vice president now owns 29,026 shares in the company, valued at approximately $1,390,635.66. The disclosure for this sale can be found here. Insiders sold a total of 86,633 shares of company stock worth $3,851,756 in the last 90 days. 6.60% of the stock is currently owned by company insiders.

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Standard Motor Products, Inc. (SMP) opened at 46.36 on Monday. Standard Motor Products, Inc. has a 12-month low of $43.29 and a 12-month high of $55.37. The stock has a 50 day moving average price of $45.61 and a 200-day moving average price of $48.78. The company has a market cap of $1.06 billion, a price-to-earnings ratio of 17.28 and a beta of 1.79.

Standard Motor Products (NYSE:SMP) last posted its quarterly earnings results on Monday, July 31st. The auto parts company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.18). The company had revenue of $312.73 million during the quarter. Standard Motor Products had a return on equity of 14.83% and a net margin of 5.55%. The firm’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.88 EPS. On average, analysts predict that Standard Motor Products, Inc. will post $2.87 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Tuesday, August 15th were paid a $0.19 dividend. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.76 annualized dividend and a dividend yield of 1.64%. Standard Motor Products’s payout ratio is currently 28.36%.

A number of equities research analysts have commented on the company. BidaskClub raised Standard Motor Products from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Zacks Investment Research cut Standard Motor Products from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Jefferies Group LLC reissued a “buy” rating on shares of Standard Motor Products in a research note on Friday, July 7th. Finally, ValuEngine cut Standard Motor Products from a “buy” rating to a “hold” rating in a research note on Thursday, August 31st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $55.67.

Standard Motor Products Company Profile

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.

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

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