Standard Motor Products (NYSE:SMP) Issues Earnings Results, Misses Expectations By $0.28 EPS

Standard Motor Products (NYSE:SMPGet Rating) posted its quarterly earnings data on Wednesday. The auto parts company reported $0.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.28), Briefing.com reports. Standard Motor Products had a return on equity of 14.93% and a net margin of 5.97%. The company had revenue of $359.40 million for the quarter, compared to analysts’ expectations of $356.59 million. During the same quarter last year, the business posted $1.26 EPS. The business’s quarterly revenue was up 5.1% on a year-over-year basis.

Standard Motor Products Price Performance

SMP opened at $37.38 on Friday. The company has a market capitalization of $816.01 million, a price-to-earnings ratio of 10.30 and a beta of 0.35. The company has a quick ratio of 0.49, a current ratio of 2.05 and a debt-to-equity ratio of 0.33. The firm has a 50-day moving average price of $43.50 and a 200-day moving average price of $43.68. Standard Motor Products has a twelve month low of $37.28 and a twelve month high of $55.09.

Standard Motor Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Monday, August 15th will be paid a $0.27 dividend. The ex-dividend date is Friday, August 12th. This represents a $1.08 annualized dividend and a dividend yield of 2.89%. Standard Motor Products’s payout ratio is 29.75%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SMP. MKM Partners began coverage on shares of Standard Motor Products in a report on Friday, June 10th. They set a “buy” rating and a $62.00 price objective for the company. StockNews.com downgraded shares of Standard Motor Products from a “buy” rating to a “hold” rating in a research note on Friday.

Insider Transactions at Standard Motor Products

In other news, Director Peter J. Sills sold 5,650 shares of the firm’s stock in a transaction that occurred on Tuesday, June 28th. The shares were sold at an average price of $45.47, for a total value of $256,905.50. Following the completion of the transaction, the director now directly owns 686,812 shares in the company, valued at $31,229,341.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Peter J. Sills sold 5,650 shares of the firm’s stock in a transaction that occurred on Tuesday, June 28th. The shares were sold at an average price of $45.47, for a total value of $256,905.50. Following the completion of the transaction, the director now directly owns 686,812 shares in the company, valued at $31,229,341.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas Tesoro sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $38.07, for a total transaction of $114,210.00. Following the completion of the transaction, the insider now owns 15,883 shares of the company’s stock, valued at $604,665.81. The disclosure for this sale can be found here. Insiders sold 14,695 shares of company stock worth $616,724 over the last quarter. Corporate insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Standard Motor Products

Several hedge funds have recently bought and sold shares of SMP. Envestnet Asset Management Inc. lifted its position in Standard Motor Products by 17.4% during the first quarter. Envestnet Asset Management Inc. now owns 7,983 shares of the auto parts company’s stock valued at $344,000 after purchasing an additional 1,185 shares during the last quarter. Raymond James & Associates lifted its position in Standard Motor Products by 12.4% during the first quarter. Raymond James & Associates now owns 50,840 shares of the auto parts company’s stock valued at $2,193,000 after purchasing an additional 5,610 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Standard Motor Products by 2.0% during the first quarter. Bank of New York Mellon Corp now owns 261,309 shares of the auto parts company’s stock valued at $11,273,000 after purchasing an additional 5,202 shares during the last quarter. Citigroup Inc. lifted its position in Standard Motor Products by 3.5% during the first quarter. Citigroup Inc. now owns 17,420 shares of the auto parts company’s stock valued at $751,000 after purchasing an additional 586 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its position in Standard Motor Products by 56.5% during the first quarter. MetLife Investment Management LLC now owns 10,831 shares of the auto parts company’s stock valued at $467,000 after purchasing an additional 3,910 shares during the last quarter. 76.54% of the stock is currently owned by institutional investors.

About Standard Motor Products

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Standard Motor Products, Inc manufactures and distributes replacement parts that are used in the maintenance, repair, and service of vehicles in the automotive aftermarket industry with a complementary focus on specialized original equipment parts for manufacturers across agriculture, heavy duty, and construction equipment industries.

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Earnings History for Standard Motor Products (NYSE:SMP)

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