Bank of New York Mellon Corp Acquires 69,717 Shares of Standard Motor Products, Inc. (NYSE:SMP)

Bank of New York Mellon Corp increased its holdings in shares of Standard Motor Products, Inc. (NYSE:SMP - Free Report) by 26.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 331,078 shares of the auto parts company's stock after buying an additional 69,717 shares during the quarter. Bank of New York Mellon Corp owned 1.52% of Standard Motor Products worth $10,257,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SMP. Geode Capital Management LLC lifted its holdings in shares of Standard Motor Products by 5.9% during the 3rd quarter. Geode Capital Management LLC now owns 485,299 shares of the auto parts company's stock valued at $16,115,000 after purchasing an additional 27,210 shares in the last quarter. State Street Corp raised its holdings in shares of Standard Motor Products by 2.6% during the third quarter. State Street Corp now owns 783,593 shares of the auto parts company's stock worth $26,015,000 after acquiring an additional 19,652 shares during the period. Franklin Resources Inc. bought a new stake in Standard Motor Products in the 3rd quarter valued at $3,876,000. Intech Investment Management LLC boosted its stake in Standard Motor Products by 274.6% in the 3rd quarter. Intech Investment Management LLC now owns 37,119 shares of the auto parts company's stock worth $1,232,000 after purchasing an additional 27,210 shares during the period. Finally, Readystate Asset Management LP bought a new position in Standard Motor Products during the 3rd quarter worth about $649,000. 81.26% of the stock is currently owned by institutional investors.

Remove Ads

Insider Buying and Selling

In other Standard Motor Products news, EVP Dale Burks sold 11,005 shares of the company's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $27.20, for a total value of $299,336.00. Following the transaction, the executive vice president now directly owns 56,860 shares of the company's stock, valued at $1,546,592. This represents a 16.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 5.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Standard Motor Products from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd.

Standard Motor Products Stock Up 1.3 %

Shares of NYSE:SMP traded up $0.35 during trading on Friday, hitting $26.53. 168,511 shares of the company were exchanged, compared to its average volume of 132,900. The stock has a market cap of $580.04 million, a price-to-earnings ratio of 16.38 and a beta of 0.50. The company has a current ratio of 2.25, a quick ratio of 0.82 and a debt-to-equity ratio of 0.21. Standard Motor Products, Inc. has a fifty-two week low of $25.68 and a fifty-two week high of $35.92. The firm has a fifty day moving average price of $30.23 and a two-hundred day moving average price of $31.56.

Standard Motor Products (NYSE:SMP - Get Free Report) last issued its earnings results on Thursday, February 27th. The auto parts company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.37 by $0.10. Standard Motor Products had a return on equity of 10.42% and a net margin of 2.56%. The company had revenue of $343.35 million during the quarter, compared to the consensus estimate of $292.50 million. As a group, research analysts anticipate that Standard Motor Products, Inc. will post 3.08 earnings per share for the current fiscal year.

Standard Motor Products Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date was Friday, February 14th. Standard Motor Products's dividend payout ratio is presently 100.81%.

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.