69,241 Shares in Standard Motor Products, Inc. $SMP Acquired by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. bought a new stake in shares of Standard Motor Products, Inc. (NYSE:SMP) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 69,241 shares of the auto parts company’s stock, valued at approximately $2,589,000.

A number of other institutional investors and hedge funds have also made changes to their positions in SMP. BlackRock Inc. acquired a new position in Standard Motor Products during the 2nd quarter valued at approximately $158,258,000. Gamco Investors INC. ET AL grew its stake in Standard Motor Products by 1.7% during the 1st quarter. Gamco Investors INC. ET AL now owns 996,928 shares of the auto parts company’s stock worth $34,633,000 after buying an additional 16,664 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Standard Motor Products in the second quarter worth $10,882,000. Algert Global LLC increased its position in Standard Motor Products by 11.7% in the second quarter. Algert Global LLC now owns 276,773 shares of the auto parts company’s stock worth $10,786,000 after buying an additional 29,063 shares during the period. Finally, SG Americas Securities LLC increased its position in Standard Motor Products by 207.8% in the first quarter. SG Americas Securities LLC now owns 259,180 shares of the auto parts company’s stock worth $9,004,000 after buying an additional 174,986 shares during the period. 81.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Standard Motor Products

In other news, EVP Dale Burks sold 9,051 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $38.71, for a total value of $350,364.21. Following the completion of the transaction, the executive vice president owned 56,955 shares of the company’s stock, valued at approximately $2,204,728.05. This represents a 13.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 18,349 shares of company stock worth $712,146. Insiders own 5.50% of the company’s stock.

Standard Motor Products Stock Performance

SMP opened at $37.10 on Wednesday. The business’s 50 day moving average is $37.87 and its 200-day moving average is $38.22. The stock has a market cap of $828.79 million, a PE ratio of 16.56 and a beta of 0.85. The company has a current ratio of 2.00, a quick ratio of 0.80 and a debt-to-equity ratio of 0.73. Standard Motor Products, Inc. has a twelve month low of $34.27 and a twelve month high of $46.00.

Standard Motor Products (NYSE:SMP) last issued its quarterly earnings data on Tuesday, August 4th. The auto parts company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.01. Standard Motor Products had a return on equity of 13.28% and a net margin of 2.78%. The business had revenue of $526.72 million during the quarter, compared to analyst estimates of $511.68 million. During the same period in the prior year, the company posted $1.13 EPS. On average, analysts predict that Standard Motor Products, Inc. will post 4.23 earnings per share for the current year.

Standard Motor Products Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Friday, August 14th. Standard Motor Products’s payout ratio is 58.93%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SMP shares. Weiss Ratings upgraded Standard Motor Products from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, July 28th. Wall Street Zen upgraded shares of Standard Motor Products from a “hold” rating to a “buy” rating in a research report on Sunday, August 16th. Finally, Roth Capital reaffirmed a “buy” rating and issued a $54.00 price objective on shares of Standard Motor Products in a report on Monday, October 12th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Standard Motor Products currently has a consensus rating of “Moderate Buy” and an average price target of $54.00.

Standard Motor Products Profile

Standard Motor Products, Inc (NYSE:SMP) manufactures and distributes replacement parts for the automotive aftermarket. The company supplies components used to maintain and repair passenger vehicles, light trucks, and other vehicles, serving professional repair shops, parts distributors, and do-it-yourself customers.

Its product portfolio includes engine-management components such as ignition, fuel, emissions, and sensor products, as well as temperature-control parts, including air-conditioning and cooling-system components.