Allspring Global Investments Holdings LLC Sells 21,664 Shares of Standard Motor Products, Inc. (NYSE:SMP)

Allspring Global Investments Holdings LLC lowered its stake in Standard Motor Products, Inc. (NYSE:SMPGet Rating) by 21.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 77,562 shares of the auto parts company’s stock after selling 21,664 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.36% of Standard Motor Products worth $2,520,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently modified their holdings of the business. BlackRock Inc. boosted its position in shares of Standard Motor Products by 1.1% during the 1st quarter. BlackRock Inc. now owns 3,271,994 shares of the auto parts company’s stock valued at $141,153,000 after acquiring an additional 37,157 shares during the last quarter. Royce & Associates LP boosted its position in shares of Standard Motor Products by 2.5% during the 2nd 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. boosted its position in shares of Standard Motor Products by 2.8% during the 1st 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 boosted its position in shares of Standard Motor Products by 1.4% during the 1st 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, State Street Corp boosted its position in shares of Standard Motor Products by 0.6% during the 2nd quarter. State Street Corp now owns 800,519 shares of the auto parts company’s stock valued at $36,015,000 after acquiring an additional 4,518 shares during the last quarter. Institutional investors own 75.14% of the company’s stock.

Standard Motor Products Stock Performance

Shares of NYSE SMP opened at $36.93 on Thursday. The stock has a market cap of $796.58 million, a price-to-earnings ratio of 12.48 and a beta of 0.53. The company has a current ratio of 2.22, a quick ratio of 0.79 and a debt-to-equity ratio of 0.35. Standard Motor Products, Inc. has a 1-year low of $31.61 and a 1-year high of $51.08. The stock’s 50-day moving average is $37.04 and its 200 day moving average is $38.01.

Standard Motor Products (NYSE:SMPGet Rating) last announced its quarterly earnings results on Friday, October 28th. The auto parts company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.10. The business had revenue of $381.37 million for the quarter, compared to analysts’ expectations of $380.88 million. Standard Motor Products had a return on equity of 13.76% and a net margin of 4.81%. On average, sell-side analysts anticipate that Standard Motor Products, Inc. will post 3.44 EPS for the current fiscal year.

Standard Motor Products Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 1st. Shareholders of record on Tuesday, November 15th were paid a $0.27 dividend. The ex-dividend date was Monday, November 14th. This represents a $1.08 dividend on an annualized basis and a yield of 2.92%. Standard Motor Products’s dividend payout ratio (DPR) is currently 36.49%.

Insiders Place Their Bets

In other Standard Motor Products news, Director Peter J. Sills sold 11,555 shares of Standard Motor Products stock in a transaction that occurred on Wednesday, October 26th. The stock was sold at an average price of $36.87, for a total value of $426,032.85. Following the transaction, the director now directly owns 656,587 shares of the company’s stock, valued at approximately $24,208,362.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Peter J. Sills sold 11,555 shares of the business’s stock in a transaction that occurred on Wednesday, October 26th. The stock was sold at an average price of $36.87, for a total transaction of $426,032.85. Following the transaction, the director now directly owns 656,587 shares of the company’s stock, valued at $24,208,362.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Peter J. Sills sold 6,045 shares of the business’s stock in a transaction that occurred on Wednesday, November 16th. The shares were sold at an average price of $39.29, for a total value of $237,508.05. Following the transaction, the director now directly owns 650,542 shares in the company, valued at $25,559,795.18. The disclosure for this sale can be found here. Insiders have sold 18,560 shares of company stock valued at $700,021 in the last ninety days. Company insiders own 6.60% of the company’s stock.

Wall Street Analysts Forecast Growth

SMP has been the topic of a number of research reports. MKM Partners decreased their price objective on Standard Motor Products from $57.00 to $47.00 in a report on Tuesday, October 18th. StockNews.com cut Standard Motor Products from a “buy” rating to a “hold” rating in a report on Wednesday, October 5th.

About Standard Motor Products

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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.

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

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