Public Sector Pension Investment Board Has $1.63 Million Stake in Standard Motor Products, Inc. $SMP

Key Points

• The Public Sector Pension Investment Board increased its stake in Standard Motor Products, Inc. by 26.7%, owning approximately $1.63 million worth of shares after acquiring an additional 13,798 shares.
• Analysts have upgraded Standard Motor Products from a "buy" to a "strong-buy" rating, indicating positive expectations for the company's performance.
• The company reported earnings of $1.29 per share, exceeding estimates and showing a 26.7% year-over-year revenue increase, with a revenue total of $493.85 million for the last quarter.

Public Sector Pension Investment Board raised its stake in Standard Motor Products, Inc. (NYSE:SMP - Free Report) by 26.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 65,424 shares of the auto parts company's stock after acquiring an additional 13,798 shares during the period. Public Sector Pension Investment Board owned about 0.30% of Standard Motor Products worth $1,631,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of SMP. Raymond James Financial Inc. bought a new stake in Standard Motor Products in the fourth quarter valued at $2,710,000. Algert Global LLC bought a new stake in Standard Motor Products in the fourth quarter valued at $2,524,000. Nuveen LLC bought a new stake in Standard Motor Products in the first quarter valued at $1,964,000. Invesco Ltd. grew its position in Standard Motor Products by 32.5% in the fourth quarter. Invesco Ltd. now owns 189,589 shares of the auto parts company's stock valued at $5,873,000 after acquiring an additional 46,482 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in Standard Motor Products in the first quarter valued at $996,000. 81.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Standard Motor Products from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 26th.

Standard Motor Products Price Performance

Shares of SMP stock opened at $37.3350 on Friday. The stock's fifty day moving average is $33.36 and its 200-day moving average is $29.56. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 2.16. The stock has a market capitalization of $821.00 million, a PE ratio of 21.21 and a beta of 0.63. Standard Motor Products, Inc. has a 52 week low of $21.38 and a 52 week high of $40.18.

Standard Motor Products (NYSE:SMP - Get Free Report) last announced its earnings results on Tuesday, August 5th. The auto parts company reported $1.29 EPS for the quarter, topping the consensus estimate of $0.97 by $0.32. The company had revenue of $493.85 million for the quarter, compared to analysts' expectations of $450.21 million. Standard Motor Products had a return on equity of 12.98% and a net margin of 2.39%.The business's revenue for the quarter was up 26.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.98 earnings per share. Equities research analysts expect that Standard Motor Products, Inc. will post 3.08 EPS for the current fiscal year.

Standard Motor Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 15th will be issued a $0.31 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.24 annualized dividend and a yield of 3.3%. Standard Motor Products's dividend payout ratio (DPR) is currently 70.45%.

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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