Bank of New York Mellon Corp reduced its position in shares of Standard Motor Products, Inc. (NYSE:SMP – Free Report) by 2.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 283,008 shares of the auto parts company’s stock after selling 5,752 shares during the period. Bank of New York Mellon Corp owned 1.31% of Standard Motor Products worth $10,446,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of SMP. BlackRock Inc. lifted its stake in shares of Standard Motor Products by 1.1% in the 1st 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 during the last quarter. Vanguard Group Inc. lifted 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 buying an additional 37,724 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Standard Motor Products by 5.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,369,960 shares of the auto parts company’s stock worth $47,675,000 after buying an additional 70,593 shares during the period. State Street Corp increased its position in shares of Standard Motor Products by 0.6% during the second 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. Finally, Wasatch Advisors Inc. raised its stake in shares of Standard Motor Products by 1.8% in the 1st quarter. Wasatch Advisors Inc. now owns 630,110 shares of the auto parts company’s stock valued at $27,183,000 after acquiring an additional 11,415 shares during the period. 77.05% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Separately, StockNews.com raised shares of Standard Motor Products from a “buy” rating to a “strong-buy” rating in a research report on Wednesday.
Standard Motor Products Stock Performance
Shares of Standard Motor Products stock opened at $37.91 on Friday. The stock has a market capitalization of $823.63 million, a price-to-earnings ratio of 22.17 and a beta of 0.57. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.26 and a quick ratio of 0.83. The business has a 50-day moving average of $37.37 and a 200 day moving average of $37.08. Standard Motor Products, Inc. has a 12 month low of $31.61 and a 12 month high of $42.42.
Standard Motor Products (NYSE:SMP – Get Free Report) last posted its quarterly earnings data on Wednesday, August 2nd. The auto parts company reported $0.84 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.13). Standard Motor Products had a net margin of 2.76% and a return on equity of 11.17%. The business had revenue of $353.10 million during the quarter, compared to analysts’ expectations of $374.45 million. During the same period in the previous year, the business posted $0.93 EPS. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Standard Motor Products, Inc. will post 3.24 earnings per share for the current year.
Standard Motor Products Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend was Monday, August 14th. Standard Motor Products’s payout ratio is currently 67.84%.
About Standard Motor Products
Standard Motor Products, Inc manufactures and distributes automotive parts that are used in the maintenance, repair, and service of vehicles in the automotive aftermarket industry in the United States and internationally. The company's Engine Management segment provides electronic ignition control modules, camshaft and crankshaft position sensors, ignition wires and coils, switches and relays, exhaust gas recirculation valves, pressure and temperature sensors, variable valve timing components, mass airflow and fuel pressure sensors, electronic throttle bodies, and diesel injectors and pumps; and anti-lock brake, vehicle speed, tire pressure monitoring, and park assist sensors.
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