Lazard Asset Management LLC Has $202,000 Holdings in Standard Motor Products, Inc. (NYSE:SMP)

Lazard Asset Management LLC boosted its stake in Standard Motor Products, Inc. (NYSE:SMPGet Rating) by 703.6% in the second quarter, Holdings Channel reports. The firm owned 4,508 shares of the auto parts company’s stock after purchasing an additional 3,947 shares during the quarter. Lazard Asset Management LLC’s holdings in Standard Motor Products were worth $202,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. BlackRock Inc. raised its stake in Standard Motor Products by 1.1% in the first quarter. BlackRock Inc. now owns 3,271,994 shares of the auto parts company’s stock valued at $141,153,000 after purchasing an additional 37,157 shares in the last quarter. Royce & Associates LP grew its position in Standard Motor Products by 2.5% in the second quarter. Royce & Associates LP now owns 1,450,228 shares of the auto parts company’s stock valued at $65,246,000 after acquiring an additional 35,900 shares during the last quarter. Vanguard Group Inc. grew its position in Standard Motor Products by 2.8% in the first quarter. Vanguard Group Inc. now owns 1,385,563 shares of the auto parts company’s stock valued at $59,773,000 after acquiring an additional 37,724 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Standard Motor Products by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,222,664 shares of the auto parts company’s stock valued at $52,747,000 after acquiring an additional 16,732 shares during the last quarter. Finally, William Blair Investment Management LLC grew its position in Standard Motor Products by 9.4% in the first quarter. William Blair Investment Management LLC now owns 1,102,035 shares of the auto parts company’s stock valued at $47,542,000 after acquiring an additional 95,078 shares during the last quarter. Institutional investors and hedge funds own 77.93% of the company’s stock.

Standard Motor Products Stock Performance

NYSE:SMP opened at $39.20 on Monday. The stock has a market cap of $845.54 million, a P/E ratio of 13.24 and a beta of 0.51. The company has a current ratio of 2.22, a quick ratio of 0.79 and a debt-to-equity ratio of 0.35. The stock’s 50-day moving average is $35.67 and its 200-day moving average is $39.33. Standard Motor Products, Inc. has a 1-year low of $31.61 and a 1-year high of $55.09.

Standard Motor Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Monday, November 14th. Standard Motor Products’s dividend payout ratio (DPR) is currently 36.49%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SMP shares. MKM Partners decreased their target price on Standard Motor Products from $57.00 to $47.00 in a research report on Tuesday, October 18th. TheStreet cut Standard Motor Products from a “b-” rating to a “c+” rating in a research report on Thursday, September 8th. Finally, StockNews.com cut Standard Motor Products from a “buy” rating to a “hold” rating in a research report on Wednesday, October 5th.

Insider Transactions at Standard Motor Products

In other news, insider Thomas Tesoro sold 1,516 shares of the business’s stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $32.08, for a total transaction of $48,633.28. Following the sale, the insider now directly owns 19,526 shares in the company, valued at $626,394.08. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Thomas Tesoro sold 1,516 shares of Standard Motor Products stock in a transaction that occurred on Monday, September 26th. The stock was sold at an average price of $32.08, for a total value of $48,633.28. Following the transaction, the insider now directly owns 19,526 shares of the company’s stock, valued at $626,394.08. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Ray Nicholas sold 1,288 shares of Standard Motor Products stock in a transaction that occurred on Monday, September 26th. The stock was sold at an average price of $31.98, for a total value of $41,190.24. Following the completion of the transaction, the vice president now directly owns 46,107 shares in the company, valued at $1,474,501.86. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,997 shares of company stock worth $1,474,467. Insiders own 6.60% of the company’s stock.

About Standard Motor Products

(Get Rating)

Standard Motor Products, Inc manufactures and distributes replacement parts that are used in the maintenance, repair, and service of vehicles in the automotive aftermarket industry with a complementary focus on specialized original equipment parts for manufacturers across agriculture, heavy duty, and construction equipment industries.

Further Reading

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

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