Key Points
- EVP Dale Burks sold 9,051 Standard Motor Products shares at an average price of $38.71, generating approximately $350,364 and reducing his direct stake by 13.71%. He later sold an additional 3,500 shares at $38.76.
- Standard Motor Products reported quarterly EPS of $1.40, slightly ahead of estimates, while revenue of $526.72 million exceeded analyst expectations. The company also announced a quarterly dividend of $0.33 per share, implying a 3.4% yield.
- Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and a $49 target price versus the stock’s recent price near $38.82. Institutional investors own 81.26% of the company.
Standard Motor Products, Inc. (NYSE:SMP - Get Free Report) EVP Dale Burks sold 3,500 shares of Standard Motor Products stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $38.76, for a total value of $135,660.00. Following the sale, the executive vice president directly owned 53,455 shares in the company, valued at $2,071,915.80. The trade was a 6.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
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 stock was sold at an average price of $38.71, for a total value of $350,364.21.
Standard Motor Products Trading Up 0.1%
NYSE:SMP opened at $38.82 on Wednesday. Standard Motor Products, Inc. has a 1 year low of $34.27 and a 1 year high of $46.00. The stock has a market cap of $867.17 million, a price-to-earnings ratio of 17.33 and a beta of 0.82. The business has a fifty day moving average of $38.87 and a 200-day moving average of $38.85. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.80 and a current ratio of 2.00.
Standard Motor Products (NYSE:SMP - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The auto parts company reported $1.40 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.01. The business had revenue of $526.72 million for the quarter, compared to analysts' expectations of $511.68 million. Standard Motor Products had a net margin of 2.78% and a return on equity of 13.28%. During the same period in the previous year, the business earned $1.13 earnings per share. Equities analysts predict that Standard Motor Products, Inc. will post 4.23 earnings per share for the current year.
Standard Motor Products Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.32 annualized dividend and a yield of 3.4%. Standard Motor Products's dividend payout ratio (DPR) is presently 58.93%.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the business. Osaic Holdings Inc. boosted its holdings in shares of Standard Motor Products by 6.2% during the 4th quarter. Osaic Holdings Inc. now owns 6,142 shares of the auto parts company's stock worth $226,000 after buying an additional 358 shares during the period. New York State Teachers Retirement System raised its holdings in Standard Motor Products by 1.2% in the 4th quarter. New York State Teachers Retirement System now owns 32,443 shares of the auto parts company's stock worth $1,196,000 after acquiring an additional 389 shares during the period. LPL Financial LLC raised its holdings in Standard Motor Products by 6.1% in the 4th quarter. LPL Financial LLC now owns 6,946 shares of the auto parts company's stock worth $256,000 after acquiring an additional 397 shares during the period. Parallel Advisors LLC lifted its position in Standard Motor Products by 76.7% during the 1st quarter. Parallel Advisors LLC now owns 949 shares of the auto parts company's stock worth $33,000 after acquiring an additional 412 shares during the last quarter. Finally, Illinois Municipal Retirement Fund lifted its position in Standard Motor Products by 4.2% during the 1st quarter. Illinois Municipal Retirement Fund now owns 11,679 shares of the auto parts company's stock worth $406,000 after acquiring an additional 466 shares during the last quarter. Institutional investors and hedge funds own 81.26% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on the company. Zacks Research downgraded Standard Motor Products from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 12th. Wall Street Zen raised Standard Motor Products from a "hold" rating to a "buy" rating in a report on Sunday. Finally, Weiss Ratings upgraded shares of Standard Motor Products from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, July 28th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $49.00.
Read Our Latest Analysis on Standard Motor Products
Standard Motor Products Company Profile
(
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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