Standard Motor Products, Inc. (NYSE:SMP)’s share price shot up 5.1% during trading on Thursday . The company traded as high as $47.13 and last traded at $46.72, 114,490 shares were traded during mid-day trading. An increase of 40% from the average session volume of 81,849 shares. The stock had previously closed at $44.45.
Separately, Zacks Investment Research lowered Standard Motor Products from a “hold” rating to a “sell” rating and set a $50.00 price target on the stock. in a research note on Monday, July 29th.
The company has a debt-to-equity ratio of 0.06, a current ratio of 1.54 and a quick ratio of 0.58. The stock has a market capitalization of $1.04 billion, a P/E ratio of 18.35, a price-to-earnings-growth ratio of 1.39 and a beta of 1.04. The firm has a 50 day moving average of $45.02 and a 200-day moving average of $47.13.
Standard Motor Products (NYSE:SMP) last issued its quarterly earnings results on Thursday, July 25th. The auto parts company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.12. Standard Motor Products had a return on equity of 13.71% and a net margin of 4.48%. The firm had revenue of $305.17 million for the quarter, compared to analyst estimates of $302.47 million. During the same period in the previous year, the company posted $0.74 earnings per share. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, equities analysts expect that Standard Motor Products, Inc. will post 3.06 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were paid a dividend of $0.23 per share. The ex-dividend date was Wednesday, August 14th. This represents a $0.92 annualized dividend and a yield of 1.97%. Standard Motor Products’s dividend payout ratio is 36.08%.
In related news, VP Thomas Tesoro sold 7,000 shares of the business’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $44.25, for a total transaction of $309,750.00. Following the transaction, the vice president now directly owns 24,121 shares in the company, valued at $1,067,354.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Peter J. Sills sold 16,800 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $46.01, for a total value of $772,968.00. The disclosure for this sale can be found here. Insiders own 6.60% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of Montreal Can increased its stake in Standard Motor Products by 18.0% during the first quarter. Bank of Montreal Can now owns 1,272 shares of the auto parts company’s stock valued at $62,000 after acquiring an additional 194 shares during the period. Quantamental Technologies LLC bought a new stake in shares of Standard Motor Products in the 2nd quarter valued at approximately $68,000. BNP Paribas Arbitrage SA grew its stake in shares of Standard Motor Products by 283.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 4,420 shares of the auto parts company’s stock valued at $217,000 after purchasing an additional 3,268 shares during the period. Cubist Systematic Strategies LLC bought a new stake in shares of Standard Motor Products in the 2nd quarter valued at approximately $222,000. Finally, Piedmont Investment Advisors Inc. grew its stake in shares of Standard Motor Products by 6.0% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 5,113 shares of the auto parts company’s stock valued at $251,000 after purchasing an additional 290 shares during the period. Hedge funds and other institutional investors own 78.93% of the company’s stock.
About Standard Motor Products (NYSE:SMP)
Standard Motor Products, Inc manufactures and distributes replacement parts for motor vehicles in the automotive aftermarket industry. The company operates in two segments, Engine Management and Temperature Control. The Engine Management segment offers electronic ignition control modules, new and remanufactured fuel injectors, ignition wires, coils, switches, relays, EGR valves, distributor caps and rotors, sensors, electronic throttle bodies, keyless entry transmitters, safety-related components, and other engine management components.
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