Ray Nicholas Sells 5,822 Shares of Standard Motor Products (NYSE:SMP) Stock

Standard Motor Products, Inc. (NYSE:SMP) VP Ray Nicholas sold 5,822 shares of Standard Motor Products stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $39.75, for a total value of $231,424.50. Following the completion of the transaction, the vice president owned 35,327 shares in the company, valued at $1,404,248.25. The trade was a 14.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Ray Nicholas also recently made the following trade(s):

• On Monday, June 1st, Ray Nicholas sold 1,950 shares of Standard Motor Products stock. The stock was sold at an average price of $38.28, for a total value of $74,646.00.

Standard Motor Products Trading Down 0.6%

Standard Motor Products stock opened at $39.06 on Thursday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.78 and a current ratio of 2.23. The business’s 50-day simple moving average is $37.89 and its 200-day simple moving average is $38.60. The firm has a market capitalization of $869.54 million, a PE ratio of 19.15 and a beta of 0.81. Standard Motor Products, Inc. has a 52 week low of $29.44 and a 52 week high of $46.00.

Standard Motor Products (NYSE:SMP) last posted its quarterly earnings data on Thursday, April 30th. The auto parts company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.09. The business had revenue of $451.17 million for the quarter, compared to analyst estimates of $429.07 million. Standard Motor Products had a return on equity of 12.98% and a net margin of 2.51%. Equities research analysts forecast that Standard Motor Products, Inc. will post 4.4 earnings per share for the current year.

Standard Motor Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were paid a $0.33 dividend. The ex-dividend date was Friday, May 15th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.4%. Standard Motor Products’s payout ratio is presently 64.71%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Weiss Ratings lowered Standard Motor Products from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 20th. Wall Street Zen lowered Standard Motor Products from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 7th. Finally, Zacks Research lowered Standard Motor Products from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Standard Motor Products currently has an average rating of “Hold” and a consensus price target of $49.00.

Institutional Investors Weigh In On Standard Motor Products

Institutional investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC boosted its holdings in Standard Motor Products by 76.7% during the first quarter. Parallel Advisors LLC now owns 949 shares of the auto parts company’s stock valued at $33,000 after purchasing an additional 412 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in Standard Motor Products by 7,560.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,149 shares of the auto parts company’s stock valued at $42,000 after purchasing an additional 1,134 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Standard Motor Products by 235.5% during the second quarter. Tower Research Capital LLC TRC now owns 2,298 shares of the auto parts company’s stock valued at $71,000 after purchasing an additional 1,613 shares in the last quarter. iSAM Funds UK Ltd acquired a new stake in Standard Motor Products during the third quarter valued at approximately $99,000. Finally, Quantbot Technologies LP acquired a new stake in Standard Motor Products during the third quarter valued at approximately $108,000. 81.26% of the stock is owned by institutional investors and hedge funds.

Standard Motor Products Company Profile

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.