Standard Motor Products, Inc. (SMP) to Issue Quarterly Dividend of $0.33 on June 1st

Standard Motor Products, Inc. (NYSE:SMP) declared a quarterly dividend on Thursday, April 30th. Shareholders of record on Friday, May 15th will be given a dividend of 0.33 per share by the auto parts company on Monday, June 1st. This represents a c) dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Friday, May 15th.

Standard Motor Products has increased its dividend by an average of 0.2%per year over the last three years and has raised its dividend every year for the last 1 years. Standard Motor Products has a payout ratio of 31.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Standard Motor Products to earn $4.94 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 26.7%.

Standard Motor Products Stock Down 1.6%

Shares of Standard Motor Products stock opened at $38.36 on Wednesday. Standard Motor Products has a 12 month low of $28.08 and a 12 month high of $46.00. The business has a fifty day simple moving average of $37.07 and a 200 day simple moving average of $38.56. The company has a quick ratio of 0.78, a current ratio of 2.23 and a debt-to-equity ratio of 0.86. The stock has a market cap of $853.96 million, a PE ratio of 18.80 and a beta of 0.80.

Standard Motor Products (NYSE:SMP) last announced its quarterly earnings results on Thursday, April 30th. The auto parts company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.09. Standard Motor Products had a return on equity of 12.98% and a net margin of 2.51%.The company had revenue of $451.17 million during the quarter, compared to analysts’ expectations of $429.07 million. Research analysts predict that Standard Motor Products will post 4.4 EPS for the current year.

Institutional Trading of Standard Motor Products

A number of hedge funds and other institutional investors have recently made changes to their positions in SMP. Congruence Capital LLC bought a new stake in shares of Standard Motor Products in the fourth quarter worth $6,571,000. SG Americas Securities LLC grew its position in Standard Motor Products by 207.8% in the first quarter. SG Americas Securities LLC now owns 259,180 shares of the auto parts company’s stock valued at $9,004,000 after purchasing an additional 174,986 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Standard Motor Products by 368.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 221,147 shares of the auto parts company’s stock valued at $6,794,000 after buying an additional 173,912 shares during the last quarter. Invesco Ltd. lifted its position in Standard Motor Products by 83.4% during the 4th quarter. Invesco Ltd. now owns 296,792 shares of the auto parts company’s stock worth $10,937,000 after buying an additional 134,936 shares in the last quarter. Finally, Manatuck Hill Partners LLC bought a new stake in Standard Motor Products during the 3rd quarter worth about $5,102,000. 81.26% of the stock is currently owned by institutional investors and hedge funds.

About Standard Motor Products

Standard Motor Products, Inc, headquartered in Long Island City, New York, is a leading manufacturer and distributor of aftermarket and original equipment automotive parts. Since its founding in 1919, the company has focused on engineering, testing, and supplying ignition and temperature management products for passenger cars and light trucks. Its product lineup includes ignition coils, spark plug wires, sensors, switches, heating and air conditioning controls, and related electronic components.

The company operates through two primary segments: Engine Management and Temperature Control.