Teacher Retirement System of Texas trimmed its stake in shares of Standard Motor Products, Inc. (NYSE:SMP - Free Report) by 31.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,838 shares of the auto parts company's stock after selling 47,868 shares during the quarter. Teacher Retirement System of Texas owned 0.47% of Standard Motor Products worth $2,639,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Aquatic Capital Management LLC acquired a new position in Standard Motor Products during the 4th quarter worth $30,000. Farther Finance Advisors LLC lifted its holdings in Standard Motor Products by 20.6% during the 4th quarter. Farther Finance Advisors LLC now owns 2,651 shares of the auto parts company's stock worth $82,000 after buying an additional 453 shares during the last quarter. Central Pacific Bank Trust Division lifted its holdings in Standard Motor Products by 68.0% during the 1st quarter. Central Pacific Bank Trust Division now owns 4,200 shares of the auto parts company's stock worth $105,000 after buying an additional 1,700 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in Standard Motor Products during the 1st quarter worth about $110,000. Finally, Polymer Capital Management US LLC purchased a new stake in Standard Motor Products during the 4th quarter worth about $239,000. 81.26% of the stock is owned by institutional investors and hedge funds.
Standard Motor Products Stock Down 2.1%
NYSE SMP traded down $0.71 during trading on Friday, reaching $32.83. 118,307 shares of the company's stock were exchanged, compared to its average volume of 163,442. The stock has a market cap of $721.60 million, a P/E ratio of 23.45 and a beta of 0.65. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.86 and a current ratio of 2.32. The company has a 50 day moving average price of $30.41 and a two-hundred day moving average price of $28.82. Standard Motor Products, Inc. has a 1 year low of $21.38 and a 1 year high of $35.92.
Standard Motor Products (NYSE:SMP - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The auto parts company reported $0.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.44 by $0.37. The company had revenue of $413.38 million during the quarter, compared to the consensus estimate of $394.38 million. Standard Motor Products had a return on equity of 12.12% and a net margin of 2.02%. Standard Motor Products's revenue for the quarter was up 24.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.45 EPS. On average, equities research analysts anticipate that Standard Motor Products, Inc. will post 3.08 EPS for the current fiscal year.
Standard Motor Products Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 3.78%. This is an increase from Standard Motor Products's previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Thursday, May 15th. Standard Motor Products's payout ratio is 88.57%.
About Standard Motor Products
(
Free Report)
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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