Key Points
- VP Ray Nicholas sold 1,950 shares of Standard Motor Products at an average price of $38.28, totaling $74,646, and reducing his stake by 4.52%.
- The company reported better-than-expected Q1 earnings, with EPS of $0.82 versus the $0.73 estimate and revenue of $451.17 million versus $429.07 million expected.
- Standard Motor Products recently paid a quarterly dividend of $0.33 per share, implying an annualized yield of 3.4%, while analysts currently rate the stock Hold with a consensus price target of $49.00.
Standard Motor Products, Inc. (NYSE:SMP - Get Free Report) VP Ray Nicholas sold 1,950 shares of Standard Motor Products stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $38.28, for a total transaction of $74,646.00. Following the completion of the transaction, the vice president directly owned 41,149 shares of the company's stock, valued at $1,575,183.72. This trade represents a 4.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Standard Motor Products Trading Up 0.7%
Standard Motor Products stock opened at $38.97 on Wednesday. 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 firm has a 50-day moving average price of $37.42 and a two-hundred day moving average price of $38.50. The firm has a market capitalization of $867.38 million, a price-to-earnings ratio of 19.10 and a beta of 0.81. Standard Motor Products, Inc. has a 52-week low of $28.85 and a 52-week high of $46.00.
Standard Motor Products (NYSE:SMP - Get Free Report) last posted its earnings results on Thursday, April 30th. The auto parts company reported $0.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.73 by $0.09. The firm had revenue of $451.17 million during the quarter, compared to analyst estimates of $429.07 million. Standard Motor Products had a net margin of 2.51% and a return on equity of 12.98%. Sell-side analysts expect that Standard Motor Products, Inc. will post 4.4 earnings per share for the current year.
Standard Motor Products Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Friday, May 15th. Standard Motor Products's payout ratio is presently 64.71%.
Institutional Trading of Standard Motor Products
A number of institutional investors have recently made changes to their positions in SMP. Delphi Management Inc. MA raised its holdings in shares of Standard Motor Products by 506.3% in the 4th quarter. Delphi Management Inc. MA now owns 34,661 shares of the auto parts company's stock worth $1,277,000 after purchasing an additional 28,944 shares in the last quarter. Teton Advisors LLC bought a new stake in shares of Standard Motor Products in the 3rd quarter worth approximately $1,327,000. Tredje AP fonden bought a new stake in shares of Standard Motor Products in the 3rd quarter worth approximately $925,000. JPMorgan Chase & Co. raised its holdings in shares of Standard Motor Products by 405.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 50,990 shares of the auto parts company's stock worth $2,081,000 after purchasing an additional 40,898 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Standard Motor Products by 850.8% in the 4th quarter. SG Americas Securities LLC now owns 84,194 shares of the auto parts company's stock worth $3,103,000 after purchasing an additional 75,339 shares in the last quarter. 81.26% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research firms have issued reports on SMP. Wall Street Zen lowered shares of Standard Motor Products from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 7th. Zacks Research lowered shares of Standard Motor Products from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 12th. Finally, Weiss Ratings lowered shares of Standard Motor Products from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, May 20th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Standard Motor Products currently has a consensus rating of "Hold" and a consensus price target of $49.00.
Read Our Latest Stock Report on SMP
About Standard Motor Products
(
Get Free Report)
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.
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