Mirae Asset Global Investments Co. Ltd. Invests $398,000 in Standard Motor Products, Inc. (NYSE:SMP)

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Standard Motor Products, Inc. (NYSE:SMP) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 10,008 shares of the auto parts company’s stock, valued at approximately $398,000.

Several other hedge funds have also modified their holdings of SMP. SG Americas Securities LLC purchased a new stake in shares of Standard Motor Products during the 3rd quarter worth approximately $415,000. Denali Advisors LLC raised its holdings in shares of Standard Motor Products by 49.1% during the 3rd quarter. Denali Advisors LLC now owns 17,000 shares of the auto parts company’s stock worth $572,000 after acquiring an additional 5,600 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Standard Motor Products by 14.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,325 shares of the auto parts company’s stock worth $145,000 after acquiring an additional 555 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Standard Motor Products by 145.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 938 shares of the auto parts company’s stock worth $32,000 after acquiring an additional 556 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in shares of Standard Motor Products by 15.8% during the 3rd quarter. Teacher Retirement System of Texas now owns 16,696 shares of the auto parts company’s stock worth $561,000 after acquiring an additional 2,277 shares in the last quarter. 81.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on SMP shares. TheStreet lowered Standard Motor Products from a “b” rating to a “c+” rating in a report on Thursday, February 22nd. StockNews.com upgraded Standard Motor Products from a “hold” rating to a “buy” rating in a report on Friday, March 29th.

Standard Motor Products Stock Performance

NYSE:SMP opened at $32.46 on Friday. The stock’s fifty day moving average is $33.00 and its 200 day moving average is $35.88. Standard Motor Products, Inc. has a fifty-two week low of $30.09 and a fifty-two week high of $41.71. The firm has a market capitalization of $732.95 million, a PE ratio of 21.08 and a beta of 0.61. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.78 and a current ratio of 2.45.

Standard Motor Products (NYSE:SMP) last announced its quarterly earnings data on Thursday, February 22nd. The auto parts company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.25). The business had revenue of $290.76 million during the quarter, compared to the consensus estimate of $313.84 million. Standard Motor Products had a net margin of 2.51% and a return on equity of 10.09%. On average, sell-side analysts anticipate that Standard Motor Products, Inc. will post 3.03 earnings per share for the current year.

Standard Motor Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Thursday, February 15th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.57%. The ex-dividend date was Wednesday, February 14th. Standard Motor Products’s dividend payout ratio (DPR) is presently 75.33%.

About 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.