Foundry Partners LLC trimmed its holdings in shares of Standard Motor Products, Inc. (NYSE:SMP – Free Report) by 2.0% in the second quarter, Holdings Channel.com reports. The fund owned 151,473 shares of the auto parts company’s stock after selling 3,027 shares during the quarter. Foundry Partners LLC’s holdings in Standard Motor Products were worth $5,683,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in Standard Motor Products by 1.1% in the first quarter. BlackRock Inc. now owns 3,271,994 shares of the auto parts company’s stock valued at $141,153,000 after buying an additional 37,157 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Standard Motor Products by 2.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,407,867 shares of the auto parts company’s stock valued at $51,963,000 after buying an additional 37,907 shares in the last quarter. Vanguard Group Inc. boosted its position in Standard Motor Products by 2.8% in the first quarter. Vanguard Group Inc. now owns 1,385,563 shares of the auto parts company’s stock valued at $59,773,000 after buying an additional 37,724 shares in the last quarter. William Blair Investment Management LLC boosted its position in Standard Motor Products by 0.6% in the first quarter. William Blair Investment Management LLC now owns 1,015,027 shares of the auto parts company’s stock valued at $37,465,000 after buying an additional 5,553 shares in the last quarter. Finally, State Street Corp boosted its position in Standard Motor Products by 1.2% in the first quarter. State Street Corp now owns 826,442 shares of the auto parts company’s stock valued at $30,504,000 after buying an additional 9,445 shares in the last quarter. 77.05% of the stock is owned by institutional investors.
Standard Motor Products Price Performance
Shares of SMP stock opened at $33.65 on Tuesday. Standard Motor Products, Inc. has a 1 year low of $31.61 and a 1 year high of $42.42. The firm’s 50 day moving average is $36.89 and its 200-day moving average is $36.66. The firm has a market capitalization of $731.21 million, a price-to-earnings ratio of 19.68 and a beta of 0.57. The company has a current ratio of 2.26, a quick ratio of 0.83 and a debt-to-equity ratio of 0.26.
Standard Motor Products Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th were given a dividend of $0.29 per share. The ex-dividend date was Monday, August 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.45%. Standard Motor Products’s payout ratio is 67.84%.
Analysts Set New Price Targets
Separately, StockNews.com upgraded shares of Standard Motor Products from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 30th.
Standard Motor Products Profile
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.
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