Hsbc Holdings PLC Has $412,000 Stock Position in Standard Motor Products, Inc. (NYSE:SMP)

Posted by Defense World Staff on Mar 8th, 2023

Hsbc Holdings PLC reduced its holdings in Standard Motor Products, Inc. (NYSE:SMP – Get Rating) by 14.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 12,478 shares of the auto parts company’s stock after selling 2,060 shares during the quarter. Hsbc Holdings PLC owned approximately 0.06% of Standard Motor Products worth $412,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SMP. Eagle Asset Management Inc. boosted its stake in shares of Standard Motor Products by 0.7% in the 2nd quarter. Eagle Asset Management Inc. now owns 59,915 shares of the auto parts company’s stock valued at $2,695,000 after purchasing an additional 416 shares during the last quarter. Mutual of America Capital Management LLC boosted its stake in shares of Standard Motor Products by 15.7% in the 2nd quarter. Mutual of America Capital Management LLC now owns 3,190 shares of the auto parts company’s stock valued at $144,000 after purchasing an additional 433 shares during the last quarter. Occudo Quantitative Strategies LP boosted its stake in shares of Standard Motor Products by 4.2% in the 2nd quarter. Occudo Quantitative Strategies LP now owns 12,063 shares of the auto parts company’s stock valued at $543,000 after purchasing an additional 487 shares during the last quarter. Walleye Capital LLC boosted its stake in shares of Standard Motor Products by 7.8% in the 1st quarter. Walleye Capital LLC now owns 6,885 shares of the auto parts company’s stock valued at $297,000 after purchasing an additional 497 shares during the last quarter. Finally, Citigroup Inc. boosted its stake in shares of Standard Motor Products by 3.5% in the 1st quarter. Citigroup Inc. now owns 17,420 shares of the auto parts company’s stock valued at $751,000 after purchasing an additional 586 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors and hedge funds.

Standard Motor Products Stock Down 0.5 %

Shares of NYSE SMP opened at $38.09 on Wednesday. The firm has a market cap of $822.33 million, a PE ratio of 15.30 and a beta of 0.56. Standard Motor Products, Inc. has a 12-month low of $31.61 and a 12-month high of $48.24. The company’s fifty day simple moving average is $38.53 and its 200 day simple moving average is $37.10. The company has a quick ratio of 0.72, a current ratio of 2.36 and a debt-to-equity ratio of 0.30.

Standard Motor Products (NYSE:SMP – Get Rating) last issued its earnings results on Wednesday, February 22nd. The auto parts company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.17. Standard Motor Products had a net margin of 4.03% and a return on equity of 12.87%. The business had revenue of $308.20 million for the quarter, compared to analyst estimates of $322.49 million. During the same period in the prior year, the firm earned $0.90 earnings per share. Standard Motor Products’s revenue was down .5% on a year-over-year basis. As a group, sell-side analysts forecast that Standard Motor Products, Inc. will post 3.69 earnings per share for the current fiscal year.

Standard Motor Products Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 1st. Shareholders of record on Wednesday, February 15th were issued a dividend of $0.29 per share. This is an increase from Standard Motor Products’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Tuesday, February 14th. This represents a $1.16 annualized dividend and a yield of 3.05%. Standard Motor Products’s dividend payout ratio is presently 46.59%.

Insiders Place Their Bets

In other Standard Motor Products news, insider Thomas Tesoro sold 1,000 shares of the company’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $38.62, for a total transaction of $38,620.00. Following the transaction, the insider now owns 17,566 shares in the company, valued at $678,398.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 6.60% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on SMP shares. StockNews.com raised shares of Standard Motor Products from a “hold” rating to a “buy” rating in a research note on Monday, February 6th. Roth Capital reissued a “buy” rating on shares of Standard Motor Products in a research note on Wednesday, February 22nd. Finally, TheStreet raised shares of Standard Motor Products from a “c+” rating to a “b-” rating in a research note on Tuesday, February 7th.

Standard Motor Products Company Profile

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Standard Motor Products, Inc engages in the manufacture, distribution, and market of replacement parts for motor vehicles in the automotive aftermarket industry. It operates through the following segments: Engine Management, Temperature Control, and All Other. The Engine Management segment produces and remanufactures ignition and emission parts, ignition wires, battery cables, fuel system parts and sensors for vehicle systems.