Polymer Capital Management US LLC Invests $239,000 in Standard Motor Products, Inc. (NYSE:SMP)

Polymer Capital Management US LLC acquired a new stake in Standard Motor Products, Inc. (NYSE:SMP) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 7,700 shares of the auto parts company’s stock, valued at approximately $239,000.

A number of other hedge funds have also bought and sold shares of the company. Versant Capital Management Inc boosted its position in Standard Motor Products by 147.2% during the fourth quarter. Versant Capital Management Inc now owns 1,031 shares of the auto parts company’s stock valued at $32,000 after acquiring an additional 614 shares during the last quarter. FMR LLC boosted its position in shares of Standard Motor Products by 64.6% during the 3rd quarter. FMR LLC now owns 1,745 shares of the auto parts company’s stock valued at $58,000 after purchasing an additional 685 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Standard Motor Products by 20.6% during the fourth quarter. Farther Finance Advisors LLC now owns 2,651 shares of the auto parts company’s stock worth $82,000 after purchasing an additional 453 shares during the period. Magnetar Financial LLC bought a new stake in Standard Motor Products in the fourth quarter worth approximately $244,000. Finally, Semanteon Capital Management LP acquired a new position in Standard Motor Products in the fourth quarter valued at approximately $289,000. Institutional investors own 81.26% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Standard Motor Products from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd.

Insider Activity

In related news, EVP Dale Burks sold 11,005 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $27.20, for a total value of $299,336.00. Following the transaction, the executive vice president now owns 56,860 shares of the company’s stock, valued at approximately $1,546,592. This trade represents a 16.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.00% of the company’s stock.

Standard Motor Products Stock Performance

Shares of SMP opened at $22.92 on Tuesday. The stock has a 50-day moving average of $28.33 and a 200-day moving average of $30.70. Standard Motor Products, Inc. has a one year low of $22.18 and a one year high of $35.92. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.25 and a quick ratio of 0.82. The company has a market cap of $501.08 million, a PE ratio of 14.15 and a beta of 0.57.

Standard Motor Products (NYSE:SMP) last issued its earnings results on Thursday, February 27th. The auto parts company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.10. Standard Motor Products had a return on equity of 10.42% and a net margin of 2.56%. The company had revenue of $343.35 million for the quarter, compared to analyst estimates of $292.50 million. On average, equities research analysts predict that Standard Motor Products, Inc. will post 3.08 EPS for the current fiscal year.

Standard Motor Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 5.06%. The ex-dividend date was Friday, February 14th. Standard Motor Products’s dividend payout ratio (DPR) is 100.81%.

Standard Motor Products Profile

Standard Motor Products, Inc manufactures and distributes replacement automotive parts in the United States and internationally. The company operates through three segments: Vehicle Control, Temperature Control, and Engineered Solutions segments. The company provides components for the ignition, emissions, and fuel delivery systems, such as air injection and induction components, air management valves, regulators and solenoids, exhaust gas recirculation components, fuel injectors and related components, fuel valves, ignition coils, connectors and sockets, modules, pumps, relays and fuses, starting and charging system parts, and vapor and purge components.