Tranche Update on Standard Motor Products, Inc.'s Equity Buyback Plan announced on February 23, 2021.
October 29, 2021 at 08:37 pm IST
Share
From July 1, 2021 to September 30, 2021, the company has repurchased 359,639 shares, representing 1.62% for $15.4 million. With this, the company has completed the repurchase of 464,992 shares, representing 2.09% for $20 million under the buyback announced on February 23, 2021.
Standard Motor Products, Inc. is a manufacturer and distributor of replacement parts in the automotive aftermarket and a custom-engineered solutions provider to vehicle and equipment manufacturers in diverse non-aftermarket end markets. Its Vehicle Control Segment services its core automotive aftermarket customers through its offering of replacement parts within the product groups: Engine Management, Electrical and Safety and Wire Sets and Other. Its Temperature Control Segment also services its core automotive aftermarket customers through its offering of replacement parts within the various product groups: AC System Components and Other Thermal Components. Its Engineered Solutions Segment services its vehicle and equipment manufacturing customers across diverse global end markets, including on-highway and off-highway applications such as commercial and light vehicles, construction, agriculture, power sports, marine, hydraulics and lawn and garden.