Goldman Sachs Group Inc. Has $3.72 Million Position in Standard Motor Products, Inc. $SMP

Goldman Sachs Group Inc. reduced its stake in shares of Standard Motor Products, Inc. (NYSE:SMP) by 3.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 149,259 shares of the auto parts company’s stock after selling 4,710 shares during the quarter. Goldman Sachs Group Inc. owned about 0.68% of Standard Motor Products worth $3,721,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SMP. PNC Financial Services Group Inc. lifted its holdings in shares of Standard Motor Products by 188.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,295 shares of the auto parts company’s stock valued at $57,000 after purchasing an additional 1,499 shares in the last quarter. Central Pacific Bank Trust Division lifted its holdings in shares of Standard Motor Products by 68.0% during the 1st quarter. Central Pacific Bank Trust Division now owns 4,200 shares of the auto parts company’s stock valued at $105,000 after purchasing an additional 1,700 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of Standard Motor Products during the 1st quarter valued at about $110,000. Dynamic Technology Lab Private Ltd bought a new stake in Standard Motor Products in the 1st quarter valued at approximately $214,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in Standard Motor Products in the 1st quarter valued at approximately $225,000. Institutional investors own 81.26% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Standard Motor Products from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 26th.

Standard Motor Products Trading Up 0.9%

Shares of Standard Motor Products stock opened at $40.53 on Friday. Standard Motor Products, Inc. has a 12-month low of $21.38 and a 12-month high of $41.54. The stock has a market cap of $891.25 million, a P/E ratio of 23.03 and a beta of 0.66. The company has a quick ratio of 0.87, a current ratio of 2.16 and a debt-to-equity ratio of 0.86. The business’s 50 day moving average is $36.59 and its 200-day moving average is $30.82.

Standard Motor Products (NYSE:SMP) last announced its quarterly earnings data on Tuesday, August 5th. The auto parts company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.32. Standard Motor Products had a return on equity of 12.98% and a net margin of 2.39%.The company had revenue of $493.85 million for the quarter, compared to analysts’ expectations of $450.21 million. During the same quarter in the prior year, the business posted $0.98 EPS. The business’s revenue was up 26.7% compared to the same quarter last year. Equities research analysts predict that Standard Motor Products, Inc. will post 3.08 earnings per share for the current fiscal year.

Standard Motor Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th were paid a dividend of $0.31 per share. The ex-dividend date was Friday, August 15th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.1%. Standard Motor Products’s dividend payout ratio is currently 70.45%.

Standard Motor Products Company 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.