Cornercap Investment Counsel Inc. Increases Stock Position in Standard Motor Products, Inc. (NYSE:SMP)

Cornercap Investment Counsel Inc. lifted its holdings in shares of Standard Motor Products, Inc. (NYSE:SMP) by 2.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,313 shares of the auto parts company’s stock after buying an additional 535 shares during the quarter. Cornercap Investment Counsel Inc. owned about 0.12% of Standard Motor Products worth $1,048,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. PNC Financial Services Group Inc. lifted its stake in Standard Motor Products by 85.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 691 shares of the auto parts company’s stock worth $26,000 after purchasing an additional 319 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Standard Motor Products by 145.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 938 shares of the auto parts company’s stock worth $32,000 after purchasing an additional 556 shares in the last quarter. FMR LLC increased its holdings in shares of Standard Motor Products by 131.5% in the 1st quarter. FMR LLC now owns 1,366 shares of the auto parts company’s stock worth $50,000 after buying an additional 776 shares during the last quarter. Captrust Financial Advisors increased its holdings in shares of Standard Motor Products by 47.4% in the 1st quarter. Captrust Financial Advisors now owns 2,217 shares of the auto parts company’s stock worth $96,000 after buying an additional 713 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Standard Motor Products in the 3rd quarter worth $85,000. 81.26% of the stock is currently owned by hedge funds and other institutional investors.

Standard Motor Products Price Performance

SMP stock opened at $32.08 on Tuesday. 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, Inc. has a 52 week low of $30.09 and a 52 week high of $41.71. The firm’s fifty day moving average is $34.31 and its 200 day moving average is $35.96. The firm has a market cap of $703.19 million, a P/E ratio of 20.83 and a beta of 0.61.

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

Standard Motor Products Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Thursday, February 15th were given a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.16 annualized dividend and a dividend yield of 3.62%. Standard Motor Products’s dividend payout ratio is 75.33%.

Analysts Set New Price Targets

SMP has been the topic of a number of research analyst reports. TheStreet lowered shares of Standard Motor Products from a “b” rating to a “c+” rating in a report on Thursday, February 22nd. StockNews.com raised shares of Standard Motor Products from a “hold” rating to a “buy” rating in a report on Friday, March 29th.

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.