Gamco Investors INC. ET AL Purchases 39,710 Shares of Standard Motor Products, Inc. $SMP

Gamco Investors INC. ET AL lifted its position in Standard Motor Products, Inc. (NYSE:SMP) by 4.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 980,264 shares of the auto parts company’s stock after acquiring an additional 39,710 shares during the period. Gamco Investors INC. ET AL’s holdings in Standard Motor Products were worth $36,123,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Gabelli Funds LLC lifted its stake in shares of Standard Motor Products by 0.4% in the fourth quarter. Gabelli Funds LLC now owns 439,630 shares of the auto parts company’s stock worth $16,200,000 after buying an additional 1,620 shares in the last quarter. Pacific Ridge Capital Partners LLC raised its holdings in shares of Standard Motor Products by 4.7% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 14,794 shares of the auto parts company’s stock valued at $545,000 after purchasing an additional 660 shares during the last quarter. Strs Ohio purchased a new position in shares of Standard Motor Products during the fourth quarter valued at approximately $280,000. Horizon Investments LLC raised its holdings in shares of Standard Motor Products by 11.8% during the fourth quarter. Horizon Investments LLC now owns 16,148 shares of the auto parts company’s stock valued at $595,000 after purchasing an additional 1,705 shares during the last quarter. Finally, New York State Teachers Retirement System raised its holdings in shares of Standard Motor Products by 1.2% during the fourth quarter. New York State Teachers Retirement System now owns 32,443 shares of the auto parts company’s stock valued at $1,196,000 after purchasing an additional 389 shares during the last quarter. Institutional investors own 81.26% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SMP shares. Wall Street Zen cut shares of Standard Motor Products from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 7th. Weiss Ratings raised shares of Standard Motor Products from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, May 6th. Finally, Zacks Research cut shares of Standard Motor Products from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 12th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.00.

Standard Motor Products Stock Up 0.0%

SMP opened at $37.01 on Monday. The company has a quick ratio of 0.78, a current ratio of 2.23 and a debt-to-equity ratio of 0.86. The firm has a 50 day moving average price of $37.00 and a 200-day moving average price of $38.50. Standard Motor Products, Inc. has a twelve month low of $28.08 and a twelve month high of $46.00. The stock has a market capitalization of $823.84 million, a price-to-earnings ratio of 18.14 and a beta of 0.80.

Standard Motor Products (NYSE:SMP) last released its quarterly earnings data on Thursday, April 30th. The auto parts company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.09. Standard Motor Products had a net margin of 2.51% and a return on equity of 12.98%. The firm had revenue of $451.17 million during the quarter, compared to analysts’ expectations of $429.07 million. Equities research analysts forecast that Standard Motor Products, Inc. will post 4.4 earnings per share for the current year.

Standard Motor Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be issued 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 of this dividend is Friday, May 15th. Standard Motor Products’s dividend payout ratio is currently 64.71%.

Standard Motor Products Company Profile

Standard Motor Products, Inc, headquartered in Long Island City, New York, is a leading manufacturer and distributor of aftermarket and original equipment automotive parts. Since its founding in 1919, the company has focused on engineering, testing, and supplying ignition and temperature management products for passenger cars and light trucks. Its product lineup includes ignition coils, spark plug wires, sensors, switches, heating and air conditioning controls, and related electronic components.

The company operates through two primary segments: Engine Management and Temperature Control.