Versant Capital Management Inc Cuts Position in Standard Motor Products, Inc. (NYSE:SMP)

Versant Capital Management Inc reduced its holdings in Standard Motor Products, Inc. (NYSE:SMP) by 30.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 641 shares of the auto parts company’s stock after selling 282 shares during the period. Versant Capital Management Inc’s holdings in Standard Motor Products were worth $29,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of SMP. Tributary Capital Management LLC grew its position in Standard Motor Products by 62.2% in the first quarter. Tributary Capital Management LLC now owns 368,583 shares of the auto parts company’s stock worth $18,097,000 after acquiring an additional 141,343 shares in the last quarter. Boston Partners boosted its holdings in shares of Standard Motor Products by 1.1% in the 1st quarter. Boston Partners now owns 320,118 shares of the auto parts company’s stock worth $15,717,000 after purchasing an additional 3,460 shares during the period. Copeland Capital Management LLC boosted its holdings in shares of Standard Motor Products by 6.9% in the 1st quarter. Copeland Capital Management LLC now owns 294,043 shares of the auto parts company’s stock worth $14,438,000 after purchasing an additional 18,976 shares during the period. Rockefeller Capital Management L.P. boosted its holdings in shares of Standard Motor Products by 0.5% in the 1st quarter. Rockefeller Capital Management L.P. now owns 268,110 shares of the auto parts company’s stock worth $13,164,000 after purchasing an additional 1,435 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Standard Motor Products by 7.5% in the 4th quarter. Geode Capital Management LLC now owns 222,990 shares of the auto parts company’s stock worth $10,799,000 after purchasing an additional 15,538 shares during the period. 79.79% of the stock is owned by institutional investors and hedge funds.

Separately, Zacks Investment Research cut Standard Motor Products from a “hold” rating to a “sell” rating and set a $50.00 target price for the company. in a report on Monday, July 29th.

In related news, Chairman Lawrence I. Sills sold 2,215 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $46.42, for a total transaction of $102,820.30. Following the completion of the transaction, the chairman now owns 664,612 shares in the company, valued at approximately $30,851,289.04. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Thomas Tesoro sold 7,000 shares of the business’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $44.25, for a total value of $309,750.00. Following the transaction, the vice president now owns 24,121 shares of the company’s stock, valued at approximately $1,067,354.25. The disclosure for this sale can be found here. Insiders have sold 43,485 shares of company stock valued at $1,982,133 in the last 90 days. Company insiders own 6.60% of the company’s stock.

NYSE SMP traded down $0.17 on Friday, hitting $44.49. 40,748 shares of the stock were exchanged, compared to its average volume of 80,777. The company has a quick ratio of 0.58, a current ratio of 1.54 and a debt-to-equity ratio of 0.06. The business has a fifty day moving average price of $45.12. The stock has a market capitalization of $993.02 million, a price-to-earnings ratio of 17.45, a P/E/G ratio of 1.37 and a beta of 1.04. Standard Motor Products, Inc. has a 52-week low of $42.03 and a 52-week high of $56.54.

Standard Motor Products (NYSE:SMP) last released its quarterly earnings results on Thursday, July 25th. The auto parts company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.12. Standard Motor Products had a net margin of 4.48% and a return on equity of 13.71%. The firm had revenue of $305.17 million during the quarter, compared to analysts’ expectations of $302.47 million. During the same period in the previous year, the company earned $0.74 EPS. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, research analysts forecast that Standard Motor Products, Inc. will post 3.06 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th will be given a dividend of $0.23 per share. The ex-dividend date is Wednesday, August 14th. This represents a $0.92 annualized dividend and a dividend yield of 2.07%. Standard Motor Products’s dividend payout ratio (DPR) is presently 36.08%.

Standard Motor Products Profile

Standard Motor Products, Inc manufactures and distributes replacement parts for motor vehicles in the automotive aftermarket industry. The company operates in two segments, Engine Management and Temperature Control. The Engine Management segment offers electronic ignition control modules, new and remanufactured fuel injectors, ignition wires, coils, switches, relays, EGR valves, distributor caps and rotors, sensors, electronic throttle bodies, keyless entry transmitters, safety-related components, and other engine management components.

Further Reading: What is the price-to-earnings growth (PEG) ratio?

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

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