Bank of New York Mellon Corp increased its position in shares of Standard Motor Products, Inc. (NYSE:SMP) by 10.1% during the first quarter, Holdings Channel reports. The fund owned 339,549 shares of the auto parts company’s stock after buying an additional 31,259 shares during the period. Bank of New York Mellon Corp’s holdings in Standard Motor Products were worth $16,686,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in SMP. State of Alaska Department of Revenue raised its stake in shares of Standard Motor Products by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 2,220 shares of the auto parts company’s stock worth $109,000 after buying an additional 60 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of Standard Motor Products during the fourth quarter worth $201,000. Park National Corp OH raised its stake in shares of Standard Motor Products by 0.4% in the first quarter. Park National Corp OH now owns 4,474 shares of the auto parts company’s stock worth $220,000 after buying an additional 16 shares during the last quarter. USA Financial Portformulas Corp bought a new stake in shares of Standard Motor Products during the fourth quarter worth $246,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Standard Motor Products during the fourth quarter worth $294,000. Institutional investors own 77.68% of the company’s stock.
Standard Motor Products, Inc. (SMP) opened at 50.71 on Tuesday. The stock has a market cap of $1.16 billion, a P/E ratio of 18.40 and a beta of 1.81. The firm’s 50-day moving average is $49.95 and its 200-day moving average is $50.11. Standard Motor Products, Inc. has a 52-week low of $37.10 and a 52-week high of $55.37.
Standard Motor Products (NYSE:SMP) last issued its quarterly earnings results on Thursday, May 4th. The auto parts company reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.09. The business had revenue of $282.38 million for the quarter. Standard Motor Products had a net margin of 5.80% and a return on equity of 15.57%. The firm’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.55 EPS. Equities research analysts predict that Standard Motor Products, Inc. will post $3.22 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Monday, May 15th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Thursday, May 11th. This represents a $0.76 annualized dividend and a dividend yield of 1.50%. Standard Motor Products’s dividend payout ratio is presently 27.54%.
A number of brokerages recently weighed in on SMP. Zacks Investment Research upgraded shares of Standard Motor Products from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a report on Tuesday, April 18th. Jefferies Group LLC reissued a “buy” rating and set a $56.00 target price on shares of Standard Motor Products in a research report on Wednesday, May 3rd.
In other news, SVP Carmine Joseph Broccole sold 2,000 shares of the stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $49.49, for a total transaction of $98,980.00. Following the sale, the senior vice president now owns 47,823 shares of the company’s stock, valued at $2,366,760.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arthur S. Sills sold 10,000 shares of the stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $50.34, for a total transaction of $503,400.00. Following the sale, the director now directly owns 351,010 shares in the company, valued at approximately $17,669,843.40. The disclosure for this sale can be found here. Insiders have sold 39,000 shares of company stock worth $1,969,855 in the last three months. Corporate insiders own 6.60% of the company’s stock.
Standard Motor Products Company Profile
Standard Motor Products, Inc is an independent manufacturer and distributor of replacement parts for motor vehicles in the automotive aftermarket industry with a complementary focus on heavy duty, industrial equipment and the original equipment service market. The Company’s segments include Engine Management Segment and Temperature Control Segment.
Want to see what other hedge funds are holding SMP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Standard Motor Products, Inc. (NYSE:SMP).
Receive News & Ratings for Standard Motor Products Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Standard Motor Products Inc. and related companies with MarketBeat.com's FREE daily email newsletter.