Voya Investment Management LLC Has $877,000 Stock Holdings in Standard Motor Products, Inc. $SMP

Key Points

• Voya Investment Management LLC increased its stake in Standard Motor Products by 45.5% during the first quarter, acquiring a total of 35,183 shares valued at approximately $877,000.
• Several other institutional investors have also raised their holdings in Standard Motor Products, with 81.26% of the company's stock now owned by institutional investors.
• Standard Motor Products reported a 26.7% year-over-year increase in revenue, achieving $493.85 million for the quarter, alongside an earnings per share of $1.29, exceeding analysts' estimates.

Voya Investment Management LLC raised its stake in shares of Standard Motor Products, Inc. (NYSE:SMP - Free Report) by 45.5% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 35,183 shares of the auto parts company's stock after purchasing an additional 10,997 shares during the period. Voya Investment Management LLC owned approximately 0.16% of Standard Motor Products worth $877,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. PNC Financial Services Group Inc. lifted its position in shares of Standard Motor Products by 188.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,295 shares of the auto parts company's stock worth $57,000 after buying an additional 1,499 shares in the last quarter. Central Pacific Bank Trust Division grew its position in shares of 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 valued at $105,000 after purchasing an additional 1,700 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in Standard Motor Products in the first quarter worth $110,000. Dynamic Technology Lab Private Ltd purchased a new position in Standard Motor Products in the first quarter worth $214,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in Standard Motor Products in the first quarter worth $225,000. Institutional investors own 81.26% of the company's stock.

Analyst Upgrades and Downgrades

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

Standard Motor Products Stock Down 0.0%

Shares of Standard Motor Products stock opened at $39.61 on Thursday. The company has a market cap of $871.02 million, a price-to-earnings ratio of 22.51 and a beta of 0.66. The company's 50 day moving average is $37.14 and its 200 day moving average is $31.13. Standard Motor Products, Inc. has a twelve month low of $21.38 and a twelve month high of $41.54. The company has a quick ratio of 0.87, a current ratio of 2.16 and a debt-to-equity ratio of 0.86.

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

Standard Motor Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th were given a $0.31 dividend. The ex-dividend date was Friday, August 15th. This represents a $1.24 annualized dividend and a yield of 3.1%. Standard Motor Products's dividend payout ratio (DPR) is presently 70.45%.

Standard Motor Products Company 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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