Dale Burks Sells 3,500 Shares of Standard Motor Products (NYSE:SMP) Stock

Standard Motor Products, Inc. (NYSE:SMP) EVP Dale Burks sold 3,500 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $38.76, for a total transaction of $135,660.00. Following the transaction, the executive vice president owned 53,455 shares of the company’s stock, valued at $2,071,915.80. The trade was a 6.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Dale Burks also recently made the following trade(s):

• On Friday, August 14th, Dale Burks sold 9,051 shares of Standard Motor Products stock. The shares were sold at an average price of $38.71, for a total transaction of $350,364.21.

Standard Motor Products Stock Down 0.7%

Shares of SMP stock opened at $38.64 on Thursday. The firm’s fifty day moving average price is $38.86 and its two-hundred day moving average price is $38.84. The company has a current ratio of 2.00, a quick ratio of 0.80 and a debt-to-equity ratio of 0.73. Standard Motor Products, Inc. has a 1 year low of $34.27 and a 1 year high of $46.00. The firm has a market capitalization of $863.31 million, a P/E ratio of 17.25 and a beta of 0.82.

Standard Motor Products (NYSE:SMP) last posted its quarterly earnings data on Tuesday, August 4th. The auto parts company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.01. Standard Motor Products had a net margin of 2.78% and a return on equity of 13.28%. The company had revenue of $526.72 million during the quarter, compared to the consensus estimate of $511.68 million. During the same period in the prior year, the business posted $1.13 EPS. On average, equities analysts predict that Standard Motor Products, Inc. will post 4.23 EPS for the current fiscal year.

Standard Motor Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be given a $0.33 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.4%. Standard Motor Products’s payout ratio is currently 58.93%.

Analyst Ratings Changes

SMP has been the subject of several recent research reports. Weiss Ratings raised Standard Motor Products from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, July 28th. Zacks Research cut Standard Motor Products from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 12th. Finally, Wall Street Zen upgraded Standard Motor Products from a “hold” rating to a “buy” rating in a research note on Sunday. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Standard Motor Products has an average rating of “Moderate Buy” and an average target price of $49.00.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SMP. Empowered Funds LLC bought a new stake in shares of Standard Motor Products in the 2nd quarter valued at about $5,492,000. Public Employees Retirement System of Ohio bought a new position in Standard Motor Products during the second quarter worth about $35,000. Bank of America Corp DE bought a new position in Standard Motor Products during the second quarter worth about $4,140,000. Jupiter Topco LLC acquired a new position in Standard Motor Products during the second quarter worth approximately $337,000. Finally, Hsbc Holdings PLC acquired a new position in Standard Motor Products during the second quarter worth approximately $1,156,000. 81.26% of the stock is currently 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.