Invenomic Capital Management LP Has $3.50 Million Position in Standard Motor Products, Inc. (NYSE:SMP)

Invenomic Capital Management LP trimmed its position in Standard Motor Products, Inc. (NYSE:SMP) by 16.2% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 105,381 shares of the auto parts company’s stock after selling 20,361 shares during the period. Invenomic Capital Management LP owned about 0.49% of Standard Motor Products worth $3,499,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in Standard Motor Products by 153.8% during the 3rd quarter. GAMMA Investing LLC now owns 906 shares of the auto parts company’s stock worth $30,000 after acquiring an additional 549 shares during the last quarter. Innealta Capital LLC acquired a new position in Standard Motor Products during the second quarter valued at approximately $25,000. Gladius Capital Management LP acquired a new position in Standard Motor Products during the second quarter worth $30,000. FMR LLC raised its position in Standard Motor Products by 64.6% during the third quarter. FMR LLC now owns 1,745 shares of the auto parts company’s stock worth $58,000 after acquiring an additional 685 shares in the last quarter. Finally, Farther Finance Advisors LLC acquired a new position in shares of Standard Motor Products during the 3rd quarter worth about $73,000. 81.26% of the stock is owned by institutional investors and hedge funds.

Standard Motor Products Price Performance

NYSE:SMP opened at $33.16 on Wednesday. Standard Motor Products, Inc. has a 12-month low of $26.09 and a 12-month high of $41.71. The firm has a market capitalization of $720.30 million, a price-to-earnings ratio of 20.47 and a beta of 0.52. The stock’s 50 day moving average price is $32.18 and its two-hundred day moving average price is $31.06. 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 (NYSE:SMP) last released its quarterly earnings data on Wednesday, October 30th. The auto parts company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.19. The firm had revenue of $399.27 million during the quarter, compared to analysts’ expectations of $396.10 million. Standard Motor Products had a net margin of 2.56% and a return on equity of 10.42%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.11 earnings per share. On average, analysts anticipate that Standard Motor Products, Inc. will post 3.08 earnings per share for the current year.

Standard Motor Products Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were given a dividend of $0.29 per share. The ex-dividend date was Friday, November 15th. This represents a $1.16 annualized dividend and a yield of 3.50%. Standard Motor Products’s dividend payout ratio (DPR) is presently 71.60%.

Insider Transactions at Standard Motor Products

In other news, CFO Nathan R. Iles sold 1,485 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $34.97, for a total transaction of $51,930.45. Following the transaction, the chief financial officer now directly owns 29,015 shares of the company’s stock, valued at approximately $1,014,654.55. This trade represents a 4.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Carmine Joseph Broccole sold 913 shares of Standard Motor Products stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $34.96, for a total transaction of $31,918.48. Following the completion of the sale, the insider now owns 81,241 shares of the company’s stock, valued at approximately $2,840,185.36. The trade was a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,454 shares of company stock worth $225,701 over the last quarter. Company 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.