Bruderman Asset Management LLC bought a new position in shares of Standard Motor Products, Inc. (NYSE:SMP) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 2,579 shares of the auto parts company’s stock, valued at approximately $125,000.

A number of other institutional investors have also modified their holdings of the business. US Bancorp DE grew its holdings in Standard Motor Products by 121.9% during the 2nd quarter. US Bancorp DE now owns 2,135 shares of the auto parts company’s stock worth $104,000 after acquiring an additional 1,173 shares in the last quarter. Coldstream Capital Management Inc. grew its holdings in Standard Motor Products by 8.7% during the 1st quarter. Coldstream Capital Management Inc. now owns 15,263 shares of the auto parts company’s stock worth $726,000 after acquiring an additional 1,226 shares in the last quarter. Citadel Advisors LLC grew its holdings in Standard Motor Products by 3.3% during the 1st quarter. Citadel Advisors LLC now owns 46,882 shares of the auto parts company’s stock worth $2,230,000 after acquiring an additional 1,493 shares in the last quarter. Rhumbline Advisers grew its holdings in Standard Motor Products by 2.8% during the 2nd quarter. Rhumbline Advisers now owns 64,097 shares of the auto parts company’s stock worth $3,098,000 after acquiring an additional 1,717 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in Standard Motor Products by 4.7% during the 2nd quarter. Legal & General Group Plc now owns 39,968 shares of the auto parts company’s stock worth $1,958,000 after acquiring an additional 1,810 shares in the last quarter. Institutional investors own 83.31% 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 Thursday, July 5th. ValuEngine upgraded shares of Standard Motor Products from a “hold” rating to a “buy” rating in a report on Wednesday, August 15th. Finally, CL King cut shares of Standard Motor Products from a “buy” rating to a “neutral” rating in a report on Monday, July 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $52.50.

NYSE:SMP opened at $51.69 on Monday. Standard Motor Products, Inc. has a fifty-two week low of $40.56 and a fifty-two week high of $52.20. The stock has a market capitalization of $1.15 billion, a PE ratio of 20.63, a PEG ratio of 2.45 and a beta of 1.65.

Standard Motor Products (NYSE:SMP) last released its quarterly earnings results on Thursday, July 26th. The auto parts company reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.05). Standard Motor Products had a net margin of 2.66% and a return on equity of 12.38%. The firm had revenue of $286.64 million during the quarter. During the same quarter in the prior year, the company earned $0.81 EPS. The business’s quarterly revenue was down 8.3% on a year-over-year basis. sell-side analysts predict that Standard Motor Products, Inc. will post 2.61 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 4th. Stockholders of record on Wednesday, August 15th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend was Tuesday, August 14th. Standard Motor Products’s dividend payout ratio is currently 29.68%.

In other news, Director Frederick D. Sturdivant sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $50.00, for a total value of $200,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Thomas Tesoro sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $51.22, for a total transaction of $51,220.00. Following the completion of the sale, the vice president now owns 30,456 shares in the company, valued at $1,559,956.32. The disclosure for this sale can be found here. Insiders sold a total of 6,281 shares of company stock worth $312,759 over the last 90 days. Company insiders own 6.60% of the company’s stock.

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

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