Copeland Capital Management LLC reduced its stake in Standard Motor Products, Inc. (NYSE:SMP) by 15.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 267,184 shares of the auto parts company’s stock after selling 49,006 shares during the period. Copeland Capital Management LLC owned about 1.19% of Standard Motor Products worth $13,151,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. US Bancorp DE increased its stake in Standard Motor Products by 121.9% in the 2nd quarter. US Bancorp DE now owns 2,135 shares of the auto parts company’s stock worth $104,000 after purchasing an additional 1,173 shares during the period. Bruderman Asset Management LLC purchased a new position in Standard Motor Products in the 2nd quarter worth approximately $125,000. Dubuque Bank & Trust Co. purchased a new position in Standard Motor Products in the 2nd quarter worth approximately $148,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Standard Motor Products in the 2nd quarter worth approximately $207,000. Finally, Itau Unibanco Holding S.A. purchased a new position in Standard Motor Products in the 2nd quarter worth approximately $209,000. 83.24% of the stock is currently owned by institutional investors and hedge funds.
SMP opened at $55.65 on Monday. Standard Motor Products, Inc. has a 52-week low of $40.56 and a 52-week high of $56.54. The company has a market cap of $1.25 billion, a PE ratio of 19.66, a price-to-earnings-growth ratio of 3.51 and a beta of 1.27.
Standard Motor Products (NYSE:SMP) last posted its earnings results on Friday, October 26th. The auto parts company reported $0.83 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.83. Standard Motor Products had a return on equity of 12.78% and a net margin of 2.86%. The firm had revenue of $296.62 million for the quarter. During the same period last year, the firm posted $0.74 earnings per share. Standard Motor Products’s quarterly revenue was up 5.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Standard Motor Products, Inc. will post 2.64 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Thursday, November 15th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $0.84 annualized dividend and a dividend yield of 1.51%. Standard Motor Products’s dividend payout ratio (DPR) is presently 29.68%.
In other news, SVP Carmine Joseph Broccole sold 825 shares of the business’s stock in a transaction that occurred on Monday, October 15th. The stock was sold at an average price of $44.07, for a total transaction of $36,357.75. Following the transaction, the senior vice president now directly owns 55,231 shares of the company’s stock, valued at $2,434,030.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Thomas Tesoro sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $51.22, for a total value of $51,220.00. Following the transaction, the vice president now directly owns 30,456 shares in the company, valued at $1,559,956.32. The disclosure for this sale can be found here. Insiders have sold 9,215 shares of company stock worth $436,006 over the last three months. Insiders own 6.60% of the company’s stock.
A number of brokerages have commented on SMP. ValuEngine raised Standard Motor Products from a “hold” rating to a “buy” rating in a research note on Saturday, October 27th. Zacks Investment Research raised Standard Motor Products from a “sell” rating to a “hold” rating in a research note on Wednesday, September 26th. Finally, CL King cut Standard Motor Products from a “buy” rating to a “neutral” rating in a research note on Monday, July 9th.
Standard Motor Products Company Profile
Standard Motor Products, Inc manufactures and distributes replacement parts for motor vehicles in the automotive aftermarket industry. Its Engine Management segment manufactures and distributes engine management replacement parts, including electronic ignition control modules, fuel injectors, remanufactured diesel injectors and pumps, ignition wires, coils, switches, relays, EGR valves, distributor caps and rotors, various sensors primarily measuring temperature, vehicle systems, electronic throttle bodies, and other engine management components primarily under the Standard, Blue Streak, BWD, Select, Intermotor, OEM, LockSmart, TechSmart, Tech Expert, and GP Sorensen brands.
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