Royce & Associates LP decreased its stake in Standard Motor Products, Inc. (NYSE:SMP - Free Report) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,283,002 shares of the auto parts company's stock after selling 12,995 shares during the quarter. Royce & Associates LP owned 5.91% of Standard Motor Products worth $39,747,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC bought a new stake in shares of Standard Motor Products in the 4th quarter valued at about $753,000. Geode Capital Management LLC grew its holdings in Standard Motor Products by 5.9% during the third 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 during the period. State Street Corp increased its stake in Standard Motor Products by 2.6% in the third quarter. State Street Corp now owns 783,593 shares of the auto parts company's stock valued at $26,015,000 after purchasing an additional 19,652 shares in the last quarter. Franklin Resources Inc. acquired a new stake in Standard Motor Products in the third quarter worth $3,876,000. Finally, Intech Investment Management LLC boosted its position in shares of Standard Motor Products by 274.6% during the third 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 in the last quarter. Institutional investors own 81.26% of the company's stock.
Analysts Set New Price Targets
Separately, StockNews.com downgraded Standard Motor Products from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 3rd.
Check Out Our Latest Stock Report on SMP
Insider Activity
In other news, EVP Dale Burks sold 11,005 shares of Standard Motor Products stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $27.20, for a total value of $299,336.00. Following the sale, the executive vice president now directly owns 56,860 shares in the company, valued at $1,546,592. This trade represents a 16.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.00% of the company's stock.
Standard Motor Products Stock Up 1.2 %
Shares of NYSE:SMP traded up $0.31 during trading on Thursday, hitting $26.51. 162,668 shares of the company's stock traded hands, compared to its average volume of 144,440. The company has a current ratio of 2.25, a quick ratio of 0.82 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average price of $29.88 and a 200-day moving average price of $31.39. Standard Motor Products, Inc. has a 52 week low of $25.68 and a 52 week high of $35.92. The company has a market cap of $579.56 million, a price-to-earnings ratio of 16.36 and a beta of 0.50.
Standard Motor Products (NYSE:SMP - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The auto parts company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.10. Standard Motor Products had a net margin of 2.56% and a return on equity of 10.42%. The company had revenue of $343.35 million during the quarter, compared to analysts' expectations of $292.50 million. As a group, research analysts forecast that Standard Motor Products, Inc. will post 3.08 EPS for the current fiscal year.
Standard Motor Products Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 4.38%. The ex-dividend date of this dividend was Friday, February 14th. Standard Motor Products's dividend payout ratio is 100.81%.
About Standard Motor Products
(
Free Report)
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.
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