Exchange Traded Concepts LLC purchased a new stake in shares of Standard Motor Products, Inc. (NYSE:SMP – Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 10,167 shares of the auto parts company’s stock, valued at approximately $381,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Arizona State Retirement System purchased a new stake in Standard Motor Products in the first quarter worth $208,000. Eagle Asset Management Inc. increased its position in Standard Motor Products by 0.8% in the first quarter. Eagle Asset Management Inc. now owns 92,202 shares of the auto parts company’s stock worth $3,403,000 after buying an additional 743 shares during the last quarter. Benson Investment Management Company Inc. purchased a new stake in Standard Motor Products in the first quarter worth $890,000. Inspire Investing LLC increased its position in Standard Motor Products by 9.9% in the first quarter. Inspire Investing LLC now owns 7,401 shares of the auto parts company’s stock worth $273,000 after buying an additional 668 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Standard Motor Products in the first quarter worth $379,000. 77.05% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Separately, StockNews.com began coverage on Standard Motor Products in a research report on Thursday. They issued a “strong-buy” rating for the company.
Standard Motor Products Price Performance
Standard Motor Products stock opened at $32.84 on Friday. Standard Motor Products, Inc. has a one year low of $32.67 and a one year high of $42.42. The business has a fifty day moving average price of $35.61 and a 200-day moving average price of $36.33. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.26 and a quick ratio of 0.83. The firm has a market capitalization of $713.48 million, a P/E ratio of 19.20 and a beta of 0.58.
Standard Motor Products (NYSE:SMP – Get Free Report) last posted its quarterly earnings results on Wednesday, August 2nd. The auto parts company reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.13). Standard Motor Products had a return on equity of 11.17% and a net margin of 2.76%. The company had revenue of $353.10 million during the quarter, compared to the consensus estimate of $374.45 million. During the same period in the previous year, the business earned $0.93 earnings per share. Standard Motor Products’s revenue was down 1.8% on a year-over-year basis. As a group, equities research analysts forecast that Standard Motor Products, Inc. will post 3.15 EPS for the current year.
Standard Motor Products Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Tuesday, August 15th were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 3.53%. The ex-dividend date was Monday, August 14th. Standard Motor Products’s dividend payout ratio is 67.84%.
About Standard Motor Products
Standard Motor Products, Inc manufactures and distributes automotive parts that are used in the maintenance, repair, and service of vehicles in the automotive aftermarket industry in the United States and internationally. The company's Engine Management segment provides electronic ignition control modules, camshaft and crankshaft position sensors, ignition wires and coils, switches and relays, exhaust gas recirculation valves, pressure and temperature sensors, variable valve timing components, mass airflow and fuel pressure sensors, electronic throttle bodies, and diesel injectors and pumps; and anti-lock brake, vehicle speed, tire pressure monitoring, and park assist sensors.
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