Standard Motor Products, Inc. (SMP) Stake Raised by State Street Corp

State Street Corp increased its stake in Standard Motor Products, Inc. (NYSE:SMP) by 2.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 497,020 shares of the auto parts company’s stock after buying an additional 13,034 shares during the quarter. State Street Corp owned approximately 2.18% of Standard Motor Products worth $25,954,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in shares of Standard Motor Products by 65,269.9% in the 1st quarter. BlackRock Inc. now owns 2,483,404 shares of the auto parts company’s stock valued at $122,033,000 after buying an additional 2,479,605 shares during the last quarter. Royce & Associates LP boosted its holdings in shares of Standard Motor Products by 3.5% in the 2nd quarter. Royce & Associates LP now owns 2,141,830 shares of the auto parts company’s stock valued at $111,846,000 after buying an additional 72,600 shares during the last quarter. FMR LLC boosted its holdings in shares of Standard Motor Products by 13.0% in the 2nd quarter. FMR LLC now owns 2,013,969 shares of the auto parts company’s stock valued at $105,169,000 after buying an additional 231,048 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Standard Motor Products by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 1,061,767 shares of the auto parts company’s stock valued at $55,445,000 after buying an additional 19,697 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Standard Motor Products by 1.1% in the 2nd quarter. Northern Trust Corp now owns 650,001 shares of the auto parts company’s stock valued at $33,944,000 after buying an additional 6,935 shares during the last quarter. 79.67% of the stock is owned by institutional investors.

Several equities research analysts have recently commented on the company. B. Riley reissued a “neutral” rating on shares of Standard Motor Products in a report on Wednesday, November 1st. Jefferies Group LLC reissued a “buy” rating and issued a $60.00 price objective on shares of Standard Motor Products in a report on Wednesday, August 9th. BidaskClub downgraded Standard Motor Products from a “buy” rating to a “hold” rating in a report on Monday, August 7th. Zacks Investment Research downgraded Standard Motor Products from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Finally, FBR & Co reissued a “hold” rating and issued a $48.00 price objective on shares of Standard Motor Products in a report on Friday, October 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. Standard Motor Products currently has an average rating of “Hold” and a consensus price target of $54.00.

In other news, SVP Carmine Joseph Broccole sold 1,123 shares of Standard Motor Products stock in a transaction on Monday, October 9th. The stock was sold at an average price of $48.18, for a total transaction of $54,106.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Lawrence I. Sills sold 7,075 shares of Standard Motor Products stock in a transaction on Monday, August 28th. The stock was sold at an average price of $44.45, for a total value of $314,483.75. Following the sale, the chairman now directly owns 704,696 shares of the company’s stock, valued at approximately $31,323,737.20. The disclosure for this sale can be found here. Insiders have sold a total of 110,362 shares of company stock valued at $4,939,667 in the last ninety days. Insiders own 6.60% of the company’s stock.

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Shares of Standard Motor Products, Inc. (SMP) opened at $41.27 on Tuesday. Standard Motor Products, Inc. has a twelve month low of $40.77 and a twelve month high of $55.37. The stock has a market capitalization of $932.78, a price-to-earnings ratio of 15.22, a price-to-earnings-growth ratio of 2.57 and a beta of 1.80.

Standard Motor Products (NYSE:SMP) last announced its quarterly earnings results on Thursday, October 26th. The auto parts company reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.12). Standard Motor Products had a net margin of 4.97% and a return on equity of 13.68%. The business had revenue of $281.06 million for the quarter. During the same period last year, the company earned $0.92 earnings per share. Standard Motor Products’s revenue was down 6.5% on a year-over-year basis. equities research analysts predict that Standard Motor Products, Inc. will post 2.67 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend is Tuesday, November 14th. Standard Motor Products’s dividend payout ratio is 32.20%.

About Standard Motor Products

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.

Institutional Ownership by Quarter for Standard Motor Products (NYSE:SMP)

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