Blog

Jun 18, 2023

Barclays PLC Increases Position in Standard Motor Products, Inc. (NYSE:SMP)

Barclays PLC increased its stake in shares of Standard Motor Products, Inc. (NYSE:SMP - Free Report) by 33.6% during the first quarter, according to its most recent Form 13F filing with the Securities

Barclays PLC increased its stake in shares of Standard Motor Products, Inc. (NYSE:SMP - Free Report) by 33.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,036 shares of the auto parts company's stock after buying an additional 4,283 shares during the quarter. Barclays PLC owned about 0.08% of Standard Motor Products worth $629,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Arizona State Retirement System purchased a new stake in shares of Standard Motor Products during the first quarter valued at $208,000. Boston Partners boosted its holdings in Standard Motor Products by 38.1% in the fourth quarter. Boston Partners now owns 457,881 shares of the auto parts company's stock valued at $16,311,000 after purchasing an additional 126,403 shares during the last quarter. Benson Investment Management Company Inc. purchased a new stake in Standard Motor Products in the first quarter valued at $890,000. HighTower Advisors LLC purchased a new stake in Standard Motor Products in the fourth quarter valued at $6,603,000. Finally, Inspire Investing LLC boosted its holdings 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 valued at $273,000 after purchasing an additional 668 shares during the last quarter. 75.95% of the stock is owned by hedge funds and other institutional investors.

In other Standard Motor Products news, VP Ray Nicholas sold 2,550 shares of the company's stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $36.41, for a total value of $92,845.50. Following the completion of the transaction, the vice president now owns 43,557 shares in the company, valued at $1,585,910.37. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 6.40% of the company's stock.

NYSE:SMP opened at $36.92 on Friday. Standard Motor Products, Inc. has a one year low of $31.61 and a one year high of $42.42. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.83 and a current ratio of 2.26. The firm has a market cap of $802.27 million, a price-to-earnings ratio of 21.59 and a beta of 0.57. The firm's fifty day moving average is $37.36 and its two-hundred day moving average is $37.19.

Standard Motor Products (NYSE:SMP - Get Free Report) last issued its quarterly earnings data on Wednesday, August 2nd. The auto parts company reported $0.84 earnings per share for the quarter, missing analysts' consensus estimates of $0.97 by ($0.13). The firm had revenue of $353.10 million during the quarter, compared to analyst estimates of $374.45 million. Standard Motor Products had a return on equity of 11.17% and a net margin of 2.76%. The company's revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the company posted $0.93 EPS. Research analysts expect that Standard Motor Products, Inc. will post 3.24 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be given a $0.29 dividend. The ex-dividend date is Monday, August 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.14%. Standard Motor Products's dividend payout ratio (DPR) is currently 67.84%.

Separately, StockNews.com lowered shares of Standard Motor Products from a "strong-buy" rating to a "buy" rating in a report on Wednesday, August 16th.

View Our Latest Stock Analysis on 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.

Want to see what other hedge funds are holding SMP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Standard Motor Products, Inc. (NYSE:SMP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Before you consider Standard Motor Products, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Standard Motor Products wasn't on the list.

While Standard Motor Products currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

MarketBeat's analysts have just released their top five short plays for September 2023. Learn which stocks have the most short interest and how to trade them. Click the link below to see which companies made the list.

Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools:

View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.

Get daily stock ideas from top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat's trending stocks report.

Identify stocks that meet your criteria using seven unique stock screeners. See what's happening in the market right now with MarketBeat's real-time news feed. Export data to Excel for your own analysis.