Standard Motor Products, Inc. (NYSE:SMP) Declares $0.29 Quarterly Dividend

Standard Motor Products, Inc. (NYSE:SMP) declared a quarterly dividend on Tuesday, February 4th,Wall Street Journal reports. Investors of record on Friday, February 14th will be paid a dividend of 0.29 per share by the auto parts company on Monday, March 3rd. This represents a $1.16 annualized dividend and a yield of 3.75%. The ex-dividend date is Friday, February 14th.

Standard Motor Products has raised its dividend payment by an average of 5.1% per year over the last three years. Standard Motor Products has a dividend payout ratio of 31.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Standard Motor Products to earn $3.43 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 33.8%.

Standard Motor Products Stock Up 1.5 %

Shares of NYSE SMP traded up $0.46 during midday trading on Tuesday, hitting $30.94. 72,646 shares of the stock traded hands, compared to its average volume of 88,857. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.82 and a current ratio of 2.25. Standard Motor Products has a one year low of $26.09 and a one year high of $41.41. The business has a 50 day moving average price of $31.76 and a two-hundred day moving average price of $31.86. The company has a market cap of $671.91 million, a PE ratio of 19.10 and a beta of 0.52.

Insider Activity

In other news, insider Carmine Joseph Broccole sold 913 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $34.96, for a total transaction of $31,918.48. Following the transaction, the insider now owns 81,241 shares of the company’s stock, valued at $2,840,185.36. This represents a 1.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Nathan R. Iles sold 1,485 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $34.97, for a total transaction of $51,930.45. Following the sale, the chief financial officer now directly owns 29,015 shares in the company, valued at $1,014,654.55. The trade was a 4.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,184 shares of company stock worth $387,041 over the last quarter. Insiders own 5.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Standard Motor Products from a “buy” rating to a “strong-buy” rating in a research report on Friday.

Standard Motor Products Company Profile

Standard Motor Products, Inc manufactures and distributes replacement automotive parts in the United States and internationally. The company operates through three segments: Vehicle Control, Temperature Control, and Engineered Solutions segments. The company provides components for the ignition, emissions, and fuel delivery systems, such as air injection and induction components, air management valves, regulators and solenoids, exhaust gas recirculation components, fuel injectors and related components, fuel valves, ignition coils, connectors and sockets, modules, pumps, relays and fuses, starting and charging system parts, and vapor and purge components.