Schwab Charles Investment Management Inc. Acquires 12,141 Shares of Standard Motor Products, Inc. (SMP)

Schwab Charles Investment Management Inc. lifted its stake in Standard Motor Products, Inc. (NYSE:SMP) by 8.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 153,278 shares of the auto parts company’s stock after purchasing an additional 12,141 shares during the period. Schwab Charles Investment Management Inc. owned about 0.68% of Standard Motor Products worth $7,396,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Piedmont Investment Advisors LLC bought a new position in Standard Motor Products during the 2nd quarter worth about $227,000. Victory Capital Management Inc. grew its holdings in Standard Motor Products by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 4,854 shares of the auto parts company’s stock worth $253,000 after acquiring an additional 729 shares in the last quarter. Nordea Investment Management AB bought a new position in Standard Motor Products during the 2nd quarter worth about $256,000. AXA bought a new position in Standard Motor Products during the 2nd quarter worth about $287,000. Finally, SG Americas Securities LLC bought a new position in Standard Motor Products during the 3rd quarter worth about $309,000. Institutional investors own 79.13% of the company’s stock.

A number of analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Standard Motor Products from a “sell” rating to a “hold” rating in a report on Tuesday, December 26th. B. Riley restated a “neutral” rating on shares of Standard Motor Products in a report on Wednesday, November 1st. Finally, FBR & Co restated a “hold” rating and issued a $48.00 price target on shares of Standard Motor Products in a report on Friday, October 27th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Standard Motor Products has an average rating of “Hold” and a consensus target price of $54.00.

Shares of Standard Motor Products, Inc. (NYSE:SMP) opened at $46.25 on Friday. Standard Motor Products, Inc. has a 1-year low of $40.56 and a 1-year high of $54.73. The firm has a market cap of $1,050.00, a PE ratio of 17.79, a PEG ratio of 2.35 and a beta of 1.81.

Standard Motor Products (NYSE:SMP) last released its quarterly earnings results on Thursday, October 26th. The auto parts company reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.12). Standard Motor Products had a net margin of 4.97% and a return on equity of 13.68%. The firm had revenue of $281.06 million during the quarter. During the same quarter in the prior year, the company earned $0.92 EPS. The business’s quarterly revenue was down 6.5% on a year-over-year basis. equities analysts forecast that Standard Motor Products, Inc. will post 2.67 EPS for the current year.

Standard Motor Products declared that its Board of Directors has approved a stock buyback plan on Monday, November 20th that authorizes the company to repurchase $10.00 million in shares. This repurchase authorization authorizes the auto parts company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

In related news, insider Peter J. Sills sold 2,500 shares of the stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $47.14, for a total value of $117,850.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Dale Burks sold 2,170 shares of the stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $42.64, for a total transaction of $92,528.80. The disclosure for this sale can be found here. Insiders sold a total of 11,369 shares of company stock valued at $502,670 over the last ninety days. 6.60% of the stock is currently owned by insiders.

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Standard Motor Products 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.

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

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