BNP Paribas Arbitrage SA Has $514,000 Holdings in Standard Motor Products, Inc. (SMP)

BNP Paribas Arbitrage SA boosted its holdings in shares of Standard Motor Products, Inc. (NYSE:SMP) by 51.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 10,651 shares of the auto parts company’s stock after acquiring an additional 3,612 shares during the period. BNP Paribas Arbitrage SA’s holdings in Standard Motor Products were worth $514,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Stevens Capital Management LP acquired a new stake in Standard Motor Products during the 3rd quarter worth $443,000. Palisade Capital Management LLC NJ grew its holdings in Standard Motor Products by 102.0% during the 3rd quarter. Palisade Capital Management LLC NJ now owns 112,039 shares of the auto parts company’s stock worth $5,406,000 after acquiring an additional 56,584 shares during the period. Copeland Capital Management LLC grew its holdings in shares of Standard Motor Products by 1.5% in the 3rd quarter. Copeland Capital Management LLC now owns 298,795 shares of the auto parts company’s stock valued at $14,417,000 after buying an additional 4,511 shares during the period. Strs Ohio grew its holdings in shares of Standard Motor Products by 8.1% in the 3rd quarter. Strs Ohio now owns 18,700 shares of the auto parts company’s stock valued at $902,000 after buying an additional 1,400 shares during the period. Finally, Shell Asset Management Co. acquired a new position in shares of Standard Motor Products in the 3rd quarter valued at $2,593,000. 79.17% of the stock is owned by hedge funds and other institutional investors.

Shares of Standard Motor Products, Inc. (NYSE:SMP) traded up $0.50 during mid-day trading on Friday, hitting $44.00. 60,701 shares of the stock traded hands, compared to its average volume of 85,253. Standard Motor Products, Inc. has a one year low of $40.56 and a one year high of $55.37. The firm has a market cap of $983.89, a price-to-earnings ratio of 16.05, a price-to-earnings-growth ratio of 2.71 and a beta of 1.80.

Standard Motor Products (NYSE:SMP) last announced its earnings results on Thursday, October 26th. The auto parts company reported $0.74 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.12). The company had revenue of $281.06 million during the quarter. Standard Motor Products had a return on equity of 13.68% and a net margin of 4.97%. The company’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.92 earnings per share. research analysts anticipate that Standard Motor Products, Inc. will post 2.67 EPS for the current year.

Standard Motor Products announced that its Board of Directors has approved a stock repurchase program on Monday, November 20th that allows the company to buyback $10.00 million in outstanding shares. This buyback authorization allows the auto parts company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Wednesday, November 15th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date was Tuesday, November 14th. Standard Motor Products’s payout ratio is presently 32.20%.

In other Standard Motor Products news, VP Ray Nicholas sold 1,331 shares of the business’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $45.25, for a total transaction of $60,227.75. Following the sale, the vice president now directly owns 30,250 shares of the company’s stock, valued at approximately $1,368,812.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Peter J. Sills sold 2,775 shares of the business’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $42.46, for a total transaction of $117,826.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,619 shares of company stock valued at $1,455,205. Company insiders own 6.60% of the company’s stock.

Several brokerages have recently issued reports on SMP. B. Riley reissued a “neutral” rating on shares of Standard Motor Products in a report on Wednesday, November 1st. Zacks Investment Research lowered shares of Standard Motor Products from a “hold” rating to a “strong sell” rating in a report on Monday, October 30th. FBR & Co reissued a “hold” rating and issued a $48.00 price target on shares of Standard Motor Products in a report on Friday, October 27th. Jefferies Group reissued a “buy” rating and issued a $60.00 price target on shares of Standard Motor Products in a report on Tuesday, September 12th. Finally, ValuEngine lowered shares of Standard Motor Products from a “buy” rating to a “hold” rating in a report on Thursday, August 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $54.00.

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Standard Motor Products Company Profile

Standard Motor Products, Inc is an independent manufacturer and distributor of replacement parts for motor vehicles in the automotive aftermarket industry with a complementary focus on heavy duty, industrial equipment and the original equipment service market. The Company’s segments include Engine Management Segment and Temperature Control Segment.

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

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