Vanguard Group Inc. increased its stake in shares of Standard Motor Products, Inc. (NYSE:SMP) by 7.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,042,070 shares of the auto parts company’s stock after buying an additional 69,882 shares during the period. Vanguard Group Inc.’s holdings in Standard Motor Products were worth $51,207,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. State of Alaska Department of Revenue boosted its position 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 valued at $109,000 after buying an additional 60 shares during the period. Envestnet Asset Management Inc. bought a new position in shares of Standard Motor Products during the first quarter valued at $152,000. Victory Capital Management Inc. boosted its position in shares of Standard Motor Products by 119.1% in the first quarter. Victory Capital Management Inc. now owns 4,125 shares of the auto parts company’s stock valued at $203,000 after buying an additional 2,242 shares during the period. Campbell & CO Investment Adviser LLC bought a new position in shares of Standard Motor Products during the first quarter valued at $226,000. Finally, Mason Street Advisors LLC boosted its position in shares of Standard Motor Products by 7.0% in the first quarter. Mason Street Advisors LLC now owns 4,699 shares of the auto parts company’s stock valued at $231,000 after buying an additional 308 shares during the period. Institutional investors own 77.83% of the company’s stock.
Shares of Standard Motor Products, Inc. (SMP) opened at 45.56 on Thursday. Standard Motor Products, Inc. has a 52 week low of $42.11 and a 52 week high of $55.37. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 16.98 and a beta of 1.81. The firm’s 50-day moving average price is $50.76 and its 200 day moving average price is $49.66.
Standard Motor Products (NYSE:SMP) last issued its quarterly earnings data on Monday, July 31st. The auto parts company reported $0.81 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.99 by $0.18. The firm had revenue of $312.73 million for the quarter. Standard Motor Products had a net margin of 5.55% and a return on equity of 14.83%. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the firm posted $0.88 EPS. On average, equities research analysts forecast that Standard Motor Products, Inc. will post $2.87 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.66%. Standard Motor Products’s payout ratio is 28.36%.
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Several equities analysts have recently weighed in on SMP shares. Zacks Investment Research upgraded Standard Motor Products from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a research report on Tuesday, April 18th. Jefferies Group LLC reissued a “buy” rating and set a $60.00 price objective on shares of Standard Motor Products in a research note on Wednesday. Finally, BidaskClub raised Standard Motor Products from a “hold” rating to a “buy” rating in a research note on Wednesday, July 5th.
In related news, Director Peter J. Sills sold 5,456 shares of the stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $50.23, for a total value of $274,054.88. Following the completion of the transaction, the director now owns 364,013 shares of the company’s stock, valued at approximately $18,284,372.99. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Lawrence I. Sills sold 4,800 shares of the stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $50.83, for a total transaction of $243,984.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,950 shares of company stock valued at $1,655,699. Company 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.
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