Standard Motor Products, Inc. (NYSE:SMP) Stock Position Boosted by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its stake in Standard Motor Products, Inc. (NYSE:SMP) by 1.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 271,823 shares of the auto parts company’s stock after buying an additional 4,391 shares during the period. Bank of New York Mellon Corp owned 1.25% of Standard Motor Products worth $7,538,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Gladius Capital Management LP bought a new position in Standard Motor Products in the 2nd quarter valued at about $30,000. Russell Investments Group Ltd. acquired a new stake in Standard Motor Products in the 1st quarter valued at about $205,000. SageView Advisory Group LLC acquired a new stake in Standard Motor Products in the 1st quarter valued at about $222,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in Standard Motor Products by 7.6% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,994 shares of the auto parts company’s stock valued at $235,000 after acquiring an additional 495 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Standard Motor Products in the 1st quarter valued at about $301,000. Institutional investors own 81.26% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Roth Mkm reissued a “buy” rating and issued a $42.00 price target on shares of Standard Motor Products in a report on Thursday, May 23rd.

Standard Motor Products Stock Performance

SMP stock opened at $31.45 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.93 and a current ratio of 2.46. The stock has a market cap of $682.78 million, a P/E ratio of 22.63 and a beta of 0.52. The firm has a 50 day simple moving average of $30.76 and a 200 day simple moving average of $31.04. Standard Motor Products, Inc. has a 52 week low of $26.09 and a 52 week high of $41.71.

Standard Motor Products (NYSE:SMP) last issued its quarterly earnings data on Thursday, August 1st. The auto parts company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.20. The firm had revenue of $389.80 million for the quarter, compared to analyst estimates of $365.60 million. Standard Motor Products had a net margin of 2.79% and a return on equity of 9.90%. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.84 earnings per share. Research analysts anticipate that Standard Motor Products, Inc. will post 3.01 earnings per share for the current fiscal year.

Standard Motor Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend was Thursday, August 15th. Standard Motor Products’s payout ratio is presently 83.45%.

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.