William Blair Investment Management LLC Cuts Holdings in Standard Motor Products, Inc. (NYSE:SMP)

William Blair Investment Management LLC reduced its position in Standard Motor Products, Inc. (NYSE:SMP) by 0.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 938,618 shares of the auto parts company’s stock after selling 1,793 shares during the period. William Blair Investment Management LLC’s holdings in Standard Motor Products were worth $26,028,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Cornercap Investment Counsel Inc. grew its holdings in Standard Motor Products by 83.4% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 48,025 shares of the auto parts company’s stock valued at $1,332,000 after buying an additional 21,843 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Standard Motor Products by 19.5% during the second quarter. American Century Companies Inc. now owns 338,931 shares of the auto parts company’s stock worth $9,399,000 after purchasing an additional 55,327 shares during the last quarter. Texas Permanent School Fund Corp boosted its holdings in shares of Standard Motor Products by 52.8% during the second quarter. Texas Permanent School Fund Corp now owns 24,996 shares of the auto parts company’s stock worth $693,000 after purchasing an additional 8,641 shares during the last quarter. Foundry Partners LLC raised its position in shares of Standard Motor Products by 11.8% in the 2nd quarter. Foundry Partners LLC now owns 154,845 shares of the auto parts company’s stock worth $4,294,000 after buying an additional 16,325 shares during the period. Finally, Innealta Capital LLC purchased a new position in shares of Standard Motor Products in the 2nd quarter worth $25,000. 81.26% of the stock is owned by hedge funds and other institutional investors.

Standard Motor Products Trading Up 3.8 %

Shares of SMP opened at $33.23 on Monday. The company has a current ratio of 2.46, a quick ratio of 0.93 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $721.42 million, a P/E ratio of 23.91 and a beta of 0.52. The stock’s fifty day simple moving average is $31.09 and its 200 day simple moving average is $31.04. Standard Motor Products, Inc. has a twelve month low of $26.09 and a twelve month high of $41.71.

Standard Motor Products (NYSE:SMP) last released its quarterly earnings data on Thursday, August 1st. The auto parts company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.78 by $0.20. Standard Motor Products had a return on equity of 9.90% and a net margin of 2.79%. The company had revenue of $389.80 million for the quarter, compared to analyst estimates of $365.60 million. During the same period last year, the company posted $0.84 earnings per share. The firm’s revenue was up 10.4% compared to the same quarter last year. On average, equities research analysts forecast that Standard Motor Products, Inc. will post 3.01 earnings per share for the current year.

Standard Motor Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.49%. The ex-dividend date was Thursday, August 15th. Standard Motor Products’s dividend payout ratio (DPR) is presently 83.45%.

Analyst Ratings Changes

Separately, Roth Mkm reaffirmed a “buy” rating and issued a $42.00 target price on shares of Standard Motor Products in a research report on Thursday, May 23rd.

Standard Motor Products Company Profile

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.