Miller Howard Investments Inc. NY Makes New $302,000 Investment in Standard Motor Products, Inc. (NYSE:SMP)

Miller Howard Investments Inc. NY purchased a new stake in shares of Standard Motor Products, Inc. (NYSE:SMP) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 8,995 shares of the auto parts company’s stock, valued at approximately $302,000.

Other institutional investors have also recently made changes to their positions in the company. Gladius Capital Management LP purchased a new stake in shares of Standard Motor Products during the 4th quarter valued at approximately $109,000. International Assets Investment Management LLC raised its position in Standard Motor Products by 3,928.4% in the fourth quarter. International Assets Investment Management LLC now owns 4,673 shares of the auto parts company’s stock valued at $186,000 after purchasing an additional 4,557 shares during the period. Arizona State Retirement System purchased a new stake in Standard Motor Products in the fourth quarter valued at approximately $218,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in Standard Motor Products by 5.0% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,499 shares of the auto parts company’s stock valued at $259,000 after purchasing an additional 307 shares during the period. Finally, Quadrature Capital Ltd purchased a new stake in Standard Motor Products in the third quarter valued at approximately $282,000. Hedge funds and other institutional investors own 81.26% of the company’s stock.

Standard Motor Products Stock Performance

NYSE:SMP opened at $28.85 on Tuesday. The company has a fifty day simple moving average of $30.86 and a two-hundred day simple moving average of $34.71. The company has a market cap of $629.51 million, a price-to-earnings ratio of 20.76 and a beta of 0.55. The company has a quick ratio of 0.92, a current ratio of 2.66 and a debt-to-equity ratio of 0.32. Standard Motor Products, Inc. has a 52 week low of $27.14 and a 52 week high of $41.71.

Standard Motor Products (NYSE:SMP) last posted its quarterly earnings results on Wednesday, May 1st. The auto parts company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.40 by $0.05. The business had revenue of $331.40 million during the quarter, compared to the consensus estimate of $321.84 million. Standard Motor Products had a net margin of 2.28% and a return on equity of 9.48%. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.61 earnings per share. As a group, equities analysts anticipate that Standard Motor Products, Inc. will post 2.99 earnings per share for the current fiscal year.

Standard Motor Products Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Wednesday, May 15th were paid a dividend of $0.29 per share. The ex-dividend date was Tuesday, May 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.02%. Standard Motor Products’s payout ratio is currently 83.45%.

Analysts Set New Price Targets

A number of analysts have issued reports on SMP shares. Roth Mkm reissued a “buy” rating and issued a $42.00 target price on shares of Standard Motor Products in a research report on Thursday, May 23rd. StockNews.com upgraded shares of Standard Motor Products from a “hold” rating to a “buy” rating in a research note on Friday, March 29th.

Standard Motor Products 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.