Standard Motor Products, Inc. (NYSE:SMP) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lowered its holdings in Standard Motor Products, Inc. (NYSE:SMP) by 7.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,127 shares of the auto parts company’s stock after selling 868 shares during the quarter. Corebridge Financial Inc.’s holdings in Standard Motor Products were worth $345,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. FMR LLC grew its position in Standard Motor Products by 64.6% during the 3rd quarter. FMR LLC now owns 1,745 shares of the auto parts company’s stock worth $58,000 after purchasing an additional 685 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Standard Motor Products by 129.1% in the third quarter. BNP Paribas Financial Markets now owns 19,721 shares of the auto parts company’s stock worth $655,000 after buying an additional 11,114 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Standard Motor Products by 21.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 44,272 shares of the auto parts company’s stock worth $1,470,000 after acquiring an additional 7,678 shares during the period. State Street Corp raised its position in Standard Motor Products by 2.6% during the third quarter. State Street Corp now owns 783,593 shares of the auto parts company’s stock valued at $26,015,000 after acquiring an additional 19,652 shares in the last quarter. Finally, Barclays PLC lifted its holdings in Standard Motor Products by 359.9% in the third quarter. Barclays PLC now owns 48,522 shares of the auto parts company’s stock valued at $1,609,000 after acquiring an additional 37,971 shares during the period. Hedge funds and other institutional investors own 81.26% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Standard Motor Products from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd.

Insider Buying and Selling

In related news, EVP Dale Burks sold 11,005 shares of Standard Motor Products stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $27.20, for a total value of $299,336.00. Following the sale, the executive vice president now directly owns 56,860 shares in the company, valued at approximately $1,546,592. The trade was a 16.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 5.00% of the stock is owned by insiders.

Standard Motor Products Trading Down 5.1 %

SMP stock opened at $22.27 on Friday. Standard Motor Products, Inc. has a 52-week low of $21.66 and a 52-week high of $35.92. The company has a quick ratio of 0.82, a current ratio of 2.25 and a debt-to-equity ratio of 0.21. The firm has a market cap of $486.76 million, a P/E ratio of 13.74 and a beta of 0.57. The company’s 50-day simple moving average is $27.47 and its 200-day simple moving average is $30.36.

Standard Motor Products (NYSE:SMP) last issued its quarterly earnings results on Thursday, February 27th. The auto parts company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.10. Standard Motor Products had a return on equity of 10.42% and a net margin of 2.56%. The company had revenue of $343.35 million for the quarter, compared to the consensus estimate of $292.50 million. As a group, equities analysts forecast that Standard Motor Products, Inc. will post 3.08 EPS for the current fiscal year.

Standard Motor Products Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a $0.29 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a yield of 5.21%. Standard Motor Products’s dividend payout ratio is currently 100.81%.

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.