Posted by Defense World Staff on Jun 12th, 2024
Cullen Capital Management LLC lessened its holdings in Standard Motor Products, Inc. (NYSE:SMP – Free Report) by 56.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,761 shares of the auto parts company’s stock after selling 7,513 shares during the quarter. Cullen Capital Management LLC’s holdings in Standard Motor Products were worth $229,000 at the end of the most recent reporting period. Front Sensor For Car
Other hedge funds also recently modified their holdings of the company. Great Lakes Advisors LLC bought a new position in shares of Standard Motor Products in the 4th quarter valued at about $2,507,000. Dimensional Fund Advisors LP boosted its stake in Standard Motor Products by 2.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,492,360 shares of the auto parts company’s stock worth $59,411,000 after acquiring an additional 31,688 shares during the last quarter. Pacer Advisors Inc. bought a new position in Standard Motor Products during the 4th quarter worth approximately $38,215,000. Invesco Ltd. boosted its stake in Standard Motor Products by 73.4% during the 3rd quarter. Invesco Ltd. now owns 216,723 shares of the auto parts company’s stock worth $7,286,000 after acquiring an additional 91,730 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new position in Standard Motor Products during the 3rd quarter worth approximately $282,000. Institutional investors own 81.26% of the company’s stock.
Shares of SMP stock opened at $28.68 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.92 and a current ratio of 2.66. The company has a market capitalization of $625.80 million, a P/E ratio of 20.63 and a beta of 0.55. The company’s 50 day moving average price is $31.82 and its two-hundred day moving average price is $35.27. Standard Motor Products, Inc. has a 52 week low of $28.62 and a 52 week high of $41.71.
Standard Motor Products (NYSE:SMP – Get Free Report) last announced its 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 firm had revenue of $331.40 million for 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 business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period last year, the company posted $0.61 EPS. On average, analysts expect that Standard Motor Products, Inc. will post 2.99 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th were issued a $0.29 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.04%. Standard Motor Products’s dividend payout ratio (DPR) is presently 83.45%.
Several research analysts recently weighed in on SMP shares. TheStreet lowered shares of Standard Motor Products from a “b” rating to a “c+” rating in a research note on Thursday, February 22nd. Roth Mkm reissued a “buy” rating and set a $42.00 price objective on shares of Standard Motor Products in a research note on Thursday, May 23rd. Finally, StockNews.com upgraded shares of Standard Motor Products from a “hold” rating to a “buy” rating in a report on Friday, March 29th.
Read Our Latest Stock Analysis on Standard Motor Products
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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