Bank of Montreal Can Invests $1.03 Million in Standard Motor Products, Inc. (NYSE:SMP)

Bank of Montreal Can purchased a new stake in shares of Standard Motor Products, Inc. (NYSE:SMP) during the 2nd quarter, Holdings Channel reports. The fund purchased 35,464 shares of the auto parts company’s stock, valued at approximately $1,029,000.

Several other hedge funds have also recently bought and sold shares of the business. Innealta Capital LLC bought a new stake in Standard Motor Products in the second quarter worth $25,000. Gladius Capital Management LP bought a new stake in shares of Standard Motor Products during the 2nd quarter worth about $30,000. Russell Investments Group Ltd. acquired a new position in shares of Standard Motor Products during the 1st quarter valued at about $205,000. SageView Advisory Group LLC bought a new position in shares of Standard Motor Products in the 1st quarter valued at approximately $222,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in Standard Motor Products by 7.6% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,994 shares of the auto parts company’s stock worth $235,000 after purchasing an additional 495 shares during the last quarter. 81.26% of the stock is owned by hedge funds and other institutional investors.

Standard Motor Products Stock Performance

NYSE:SMP opened at $31.53 on Monday. The firm has a market capitalization of $684.52 million, a PE ratio of 22.68 and a beta of 0.51. Standard Motor Products, Inc. has a 1 year low of $26.09 and a 1 year high of $41.71. 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’s fifty day simple moving average is $31.92 and its 200 day simple moving average is $31.24.

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

Standard Motor Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date was Thursday, August 15th. Standard Motor Products’s payout ratio is 83.45%.

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.