Standard Motor Products, Inc. (NYSE:SMP) Director John P. Gethin sold 5,000 shares of Standard Motor Products stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $49.50, for a total value of $247,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Standard Motor Products, Inc. (NYSE:SMP) traded down $0.96 during trading on Monday, hitting $49.18. The stock had a trading volume of 85,155 shares, compared to its average volume of 124,229. The company has a market capitalization of $1,134.08, a price-to-earnings ratio of 30.30, a PEG ratio of 2.49 and a beta of 1.82. Standard Motor Products, Inc. has a twelve month low of $40.56 and a twelve month high of $54.73.
Standard Motor Products (NYSE:SMP) last issued its quarterly earnings results on Tuesday, February 20th. The auto parts company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.16. Standard Motor Products had a return on equity of 14.15% and a net margin of 3.40%. The firm had revenue of $239.98 million for the quarter. During the same quarter in the prior year, the firm earned $0.42 earnings per share. The company’s revenue was up 4.4% on a year-over-year basis. equities analysts expect that Standard Motor Products, Inc. will post 3.35 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 15th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.71%. This is a positive change from Standard Motor Products’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Wednesday, February 14th. Standard Motor Products’s payout ratio is currently 51.85%.
A number of research firms have recently commented on SMP. Zacks Investment Research upgraded Standard Motor Products from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a research note on Thursday. B. Riley reiterated a “neutral” rating on shares of Standard Motor Products in a research note on Wednesday, November 1st. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $55.00.
A number of institutional investors and hedge funds have recently modified their holdings of SMP. Boston Partners bought a new position in Standard Motor Products during the fourth quarter valued at about $13,428,000. Schroder Investment Management Group acquired a new stake in Standard Motor Products during the fourth quarter valued at approximately $10,722,000. Macquarie Group Ltd. boosted its holdings in Standard Motor Products by 13.4% during the third quarter. Macquarie Group Ltd. now owns 578,293 shares of the auto parts company’s stock valued at $27,903,000 after purchasing an additional 68,130 shares in the last quarter. BlackRock Inc. boosted its holdings in Standard Motor Products by 2.6% during the fourth quarter. BlackRock Inc. now owns 2,623,798 shares of the auto parts company’s stock valued at $117,834,000 after purchasing an additional 65,424 shares in the last quarter. Finally, Palisade Capital Management LLC NJ boosted its holdings in Standard Motor Products by 102.0% during the third quarter. Palisade Capital Management LLC NJ now owns 112,039 shares of the auto parts company’s stock valued at $5,406,000 after purchasing an additional 56,584 shares in the last quarter. Hedge funds and other institutional investors own 80.61% of the company’s stock.
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About Standard Motor Products
Standard Motor Products, Inc is an independent manufacturer and distributor of replacement parts for motor vehicles in the automotive aftermarket industry with a complementary focus on heavy duty, industrial equipment and the original equipment service market. The Company’s segments include Engine Management Segment and Temperature Control Segment.
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