Bank of New York Mellon Corp Has $10.26 Million Stake in Standard Motor Products, Inc. (NYSE:SMP)

Bank of New York Mellon Corp grew its holdings in shares of Standard Motor Products, Inc. (NYSE:SMP) by 26.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 331,078 shares of the auto parts company’s stock after purchasing an additional 69,717 shares during the period. Bank of New York Mellon Corp owned about 1.52% of Standard Motor Products worth $10,257,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Principal Financial Group Inc. increased its position in shares of Standard Motor Products by 3.6% in the fourth quarter. Principal Financial Group Inc. now owns 108,684 shares of the auto parts company’s stock worth $3,367,000 after purchasing an additional 3,771 shares during the period. Rhumbline Advisers lifted its position in Standard Motor Products by 15.9% during the fourth quarter. Rhumbline Advisers now owns 118,917 shares of the auto parts company’s stock worth $3,684,000 after purchasing an additional 16,330 shares during the period. Empowered Funds LLC grew its stake in Standard Motor Products by 5.1% during the fourth quarter. Empowered Funds LLC now owns 110,684 shares of the auto parts company’s stock worth $3,429,000 after buying an additional 5,341 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in Standard Motor Products by 5.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 9,421 shares of the auto parts company’s stock valued at $292,000 after buying an additional 446 shares during the period. Finally, Inspire Investing LLC raised its position in shares of Standard Motor Products by 3.1% in the 4th quarter. Inspire Investing LLC now owns 12,896 shares of the auto parts company’s stock valued at $400,000 after buying an additional 383 shares in the last quarter. 81.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Standard Motor Products from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd.

Insider Activity at Standard Motor Products

In other Standard Motor Products news, EVP Dale Burks sold 11,005 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $27.20, for a total value of $299,336.00. Following the completion of the transaction, the executive vice president now owns 56,860 shares of the company’s stock, valued at $1,546,592. This represents a 16.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.00% of the stock is owned by insiders.

Standard Motor Products Price Performance

Standard Motor Products stock opened at $26.16 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.82 and a current ratio of 2.25. Standard Motor Products, Inc. has a 52 week low of $25.68 and a 52 week high of $35.92. The stock has a market capitalization of $571.91 million, a P/E ratio of 16.15 and a beta of 0.50. The stock has a fifty day moving average of $30.32 and a 200-day moving average of $31.60.

Standard Motor Products (NYSE:SMP) last released its earnings results on Thursday, February 27th. The auto parts company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.10. The firm had revenue of $343.35 million for the quarter, compared to analysts’ expectations of $292.50 million. Standard Motor Products had a return on equity of 10.42% and a net margin of 2.56%. On average, sell-side analysts expect that Standard Motor Products, Inc. will post 3.08 earnings per share for the current fiscal year.

Standard Motor Products Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date of this dividend was Friday, February 14th. Standard Motor Products’s dividend payout ratio is 100.81%.

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.