Allspring Global Investments Holdings LLC sells 21,664 shares of Standard Motor Products, Inc. (NYSE:SMP)

Allspring Global Investments Holdings LLC has reduced its stake in Standard Motor Products, Inc. (NYSE: SMP – Get Rating) up 21.8% in the third quarter, 13F said in its latest filing with the Securities and Exchange Commission. The firm owned 77,562 shares of the auto parts company after selling 21,664 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.36% of Standard Motor Products worth $2,520,000 at the time of the last filing with the Securities and Exchange Commission.

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Several other major investors have also changed their stakes in the business recently. Black Rock Inc. increased its holdings in Standard Motor Products by 1.1% during the 1st quarter. Black Rock Inc. currently owns 3,271,994 shares of an auto parts company worth $141,153,000 after acquiring an additional 37,157 shares during the last quarter. Royce & Associates LP increased its position in Standard Motor Products by 2.5% in the 2nd quarter. Royce & Associates LP now owns 1,450,228 shares of the auto parts company worth $65,246,000 after acquiring an additional 35,900 shares during the most recent quarter. Vanguard Group Inc. increased its exposure to Standard Motor Products by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 1,385,563 shares of an auto parts company valued at $59,773,000 after acquiring an additional 37,724 shares during the most recent quarter. Dimensional Fund Advisors LP increased its holdings in Standard Motor Products by 1.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,222,664 shares of the auto parts company worth $52,747,000 after acquiring an additional 16,732 shares during the most recent quarter. Finally, State Street Corp increased its holdings in Standard Motor Products by 0.6% in the 2nd quarter. State Street Corp now owns 800,519 shares of the auto parts company worth $36,015,000 after acquiring an additional 4,518 shares during the most recent quarter. Institutional investors own 75.14% of the company’s shares.

Inventory performance of standard motor products

Shares of NYSE SMP opened Thursday at $36.93. The shares have a market capitalization of $796.58 million, a price-to-earnings ratio of 12.48, and a beta of 0.53. The company has a current ratio of 2.22, a quick ratio of 0.79 and a debt-to-equity ratio of 0.35. Standard Motor Products Inc. has an annual low of $31.61 and an annual high of $51.08. The 50-day moving average of the stock is $37.04 and the 200-day moving average is $38.01.

Standard Motor Products (NYSE: SMP – Get Rating) last posted quarterly earnings on Friday, October 28th. The auto parts company reported earnings per share of $1.05 for the quarter, beating analysts’ consensus estimate of $0.95 by $0.10. The business’s revenue for the quarter was $381.37 million, while analysts had expected $380.88 million. Standard Motor Products had a return on equity of 13.76% and a net margin of 4.81%. On average, sales analysts expect Standard Motor Products, Inc. will earn 3.44 earnings per share for the current fiscal year.

Standard Motor Products Dividend Announcement

The business also recently announced a quarterly dividend, which was paid out on Thursday, December 1st. Shareholders registered on Tuesday, November 15 were paid a dividend of $0.27. The ex-dividend date was Monday, November 14th. This represents a dividend of $1.08 year on year and a yield of 2.92%. The Standard Motor Products (DPR) dividend payout ratio currently stands at 36.49%.

Insiders are betting

In other news, Standard Motor Products director Peter J. Sills sold 11,555 shares of Standard Motor Products in a transaction that took place on Wednesday, October 26th. The shares were sold at an average price of $36.87 for a total of $426,032.85. Following the transaction, the director now directly owns 656,587 shares of the company, worth approximately $24,208,362.69. The sale was disclosed in a legal document filed with the Securities and Exchange Commission, which is available on the SEC website. In other news, director Peter J. Sills sold 11,555 shares of the company in a transaction that took place on Wednesday, October 26th. The shares were sold at an average price of $36.87 for a total transaction value of $426,032.85. Following the transaction, the director now directly owns 656,587 shares of the company worth $24,208,362.69. The deal was disclosed in a legal document filed with the Securities and Exchange Commission, which is available at this link. In addition, director Peter J. Sills sold 6,045 shares of the company in a transaction that took place on Wednesday, November 16th. The shares were sold at an average price of $39.29 for a total of $237,508.05. Following the transaction, the director now directly owns 650,542 shares of the company worth $25,559,795.18. Disclosure of this sale can be found here. Insiders have sold 18,560 shares of the company worth $700,021 in the past ninety days. Company insiders own 6.60% of the company’s shares.

Wall Street Analysts Predict Growth

SMP has been the subject of several research reports. MKM Partners lowered its price target for standard motor products from $57 to $47 in a report released Tuesday, October 18. StockNews.com downgraded Standard Motor Products from Buy to Hold in a report released Wednesday, Oct. 5.

About standard motor products

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Standard Motor Products, Inc. manufactures and distributes replacement parts that are used in the maintenance, repair and aftermarket of vehicles, with an additional focus on specialized original parts for manufacturers of agricultural, heavy and construction equipment.

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Institutional Ownership by Block for Standard Automotive Products (NYSE: SMP)

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