The Manufacturers Life Insurance Company grew its stake in Standard Motor Products, Inc. (NYSE:SMP – Free Report) by 11.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 8,546 shares of the auto parts company’s stock after acquiring an additional 908 shares during the period. The Manufacturers Life Insurance Company’s holdings in Standard Motor Products were worth $237,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also made changes to their positions in the company. Innealta Capital LLC purchased a new stake in shares of Standard Motor Products in the 2nd quarter valued at approximately $25,000. Gladius Capital Management LP purchased a new stake in shares of Standard Motor Products in the 2nd quarter valued at approximately $30,000. Russell Investments Group Ltd. purchased a new stake in shares of Standard Motor Products in the 1st quarter valued at approximately $205,000. SageView Advisory Group LLC purchased a new stake in shares of Standard Motor Products in the 1st quarter valued at approximately $222,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in shares of 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 period. 81.26% of the stock is owned by hedge funds and other institutional investors.
Standard Motor Products Price Performance
Standard Motor Products stock opened at $31.33 on Friday. Standard Motor Products, Inc. has a 1 year low of $26.09 and a 1 year high of $41.71. The company’s 50 day simple moving average is $31.83 and its 200-day simple moving average is $31.13. The company has a market capitalization of $680.17 million, a price-to-earnings ratio of 17.89 and a beta of 0.51. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.93 and a current ratio of 2.46.
Standard Motor Products Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend was Thursday, August 15th. Standard Motor Products’s payout ratio is currently 66.29%.
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.
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