Fmr LLC lessened its holdings in Standard Motor Products, Inc. (NYSE:SMP) by 4.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,900,492 shares of the auto parts company’s stock after selling 95,223 shares during the quarter. Fmr LLC owned 8.47% of Standard Motor Products worth $91,870,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of the stock. US Bancorp DE raised its position in Standard Motor Products by 121.9% in the 2nd quarter. US Bancorp DE now owns 2,135 shares of the auto parts company’s stock worth $104,000 after purchasing an additional 1,173 shares during the period. Rhumbline Advisers raised its position in Standard Motor Products by 2.8% in the 2nd quarter. Rhumbline Advisers now owns 64,097 shares of the auto parts company’s stock worth $3,098,000 after purchasing an additional 1,717 shares during the period. Legal & General Group Plc raised its position in Standard Motor Products by 4.7% in the 2nd quarter. Legal & General Group Plc now owns 39,968 shares of the auto parts company’s stock worth $1,958,000 after purchasing an additional 1,810 shares during the period. California Public Employees Retirement System raised its position in Standard Motor Products by 6.3% in the 2nd quarter. California Public Employees Retirement System now owns 35,879 shares of the auto parts company’s stock worth $1,734,000 after purchasing an additional 2,119 shares during the period. Finally, Reinhart Partners Inc. raised its position in Standard Motor Products by 8.7% in the 2nd quarter. Reinhart Partners Inc. now owns 30,340 shares of the auto parts company’s stock worth $1,467,000 after purchasing an additional 2,440 shares during the period. Institutional investors own 83.21% of the company’s stock.
A number of brokerages recently commented on SMP. ValuEngine upgraded shares of Standard Motor Products from a “hold” rating to a “buy” rating in a research report on Saturday, October 27th. Zacks Investment Research upgraded shares of Standard Motor Products from a “sell” rating to a “hold” rating in a research report on Wednesday, September 26th.
Shares of Standard Motor Products stock opened at $54.53 on Friday. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of 19.27, a PEG ratio of 3.49 and a beta of 1.27. Standard Motor Products, Inc. has a 12-month low of $40.56 and a 12-month high of $56.54.
Standard Motor Products (NYSE:SMP) last announced its quarterly earnings results on Friday, October 26th. The auto parts company reported $0.83 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.83. The business had revenue of $296.62 million for the quarter. Standard Motor Products had a net margin of 2.86% and a return on equity of 12.78%. Standard Motor Products’s revenue was up 5.5% on a year-over-year basis. During the same period last year, the business earned $0.74 EPS. On average, equities analysts expect that Standard Motor Products, Inc. will post 2.64 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Thursday, November 15th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date is Wednesday, November 14th. Standard Motor Products’s dividend payout ratio (DPR) is presently 29.68%.
In other Standard Motor Products news, SVP Carmine Joseph Broccole sold 825 shares of the firm’s stock in a transaction on Monday, October 15th. The shares were sold at an average price of $44.07, for a total value of $36,357.75. Following the sale, the senior vice president now owns 55,231 shares of the company’s stock, valued at approximately $2,434,030.17. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Ray Nicholas sold 1,000 shares of the firm’s stock in a transaction on Monday, October 15th. The stock was sold at an average price of $43.65, for a total transaction of $43,650.00. Following the completion of the sale, the vice president now directly owns 35,125 shares in the company, valued at approximately $1,533,206.25. The disclosure for this sale can be found here. In the last three months, insiders sold 9,215 shares of company stock worth $436,006. Insiders own 6.60% of the company’s stock.
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Standard Motor Products Profile
Standard Motor Products, Inc manufactures and distributes replacement parts for motor vehicles in the automotive aftermarket industry. Its Engine Management segment manufactures and distributes engine management replacement parts, including electronic ignition control modules, fuel injectors, remanufactured diesel injectors and pumps, ignition wires, coils, switches, relays, EGR valves, distributor caps and rotors, various sensors primarily measuring temperature, vehicle systems, electronic throttle bodies, and other engine management components primarily under the Standard, Blue Streak, BWD, Select, Intermotor, OEM, LockSmart, TechSmart, Tech Expert, and GP Sorensen brands.
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