Standard Motor Products, Inc. to Issue Quarterly Dividend of $0.29 (NYSE:SMP)

Standard Motor Products, Inc. (NYSE:SMP) announced a quarterly dividend on Wednesday, October 30th,Zacks Dividends reports. Stockholders of record on Friday, November 15th will be paid a dividend of 0.29 per share by the auto parts company on Monday, December 2nd. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend is Friday, November 15th.

Standard Motor Products has increased its dividend payment by an average of 32.4% annually over the last three years. Standard Motor Products has a dividend payout ratio of 33.9% 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 Performance

Shares of SMP opened at $34.02 on Wednesday. The company has a market cap of $738.91 million, a PE ratio of 21.00 and a beta of 0.51. The company has a current ratio of 2.25, a quick ratio of 0.82 and a debt-to-equity ratio of 0.21. The stock has a 50-day moving average price of $32.11 and a 200-day moving average price of $31.00. Standard Motor Products has a 12-month low of $26.09 and a 12-month high of $41.71.

Standard Motor Products (NYSE:SMP) last released its earnings results on Wednesday, October 30th. The auto parts company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.19. The company had revenue of $399.27 million during the quarter, compared to the consensus estimate of $396.10 million. Standard Motor Products had a return on equity of 10.42% and a net margin of 2.56%. Standard Motor Products’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.11 EPS. As a group, equities analysts forecast that Standard Motor Products will post 3.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Standard Motor Products news, CFO Nathan R. Iles sold 1,485 shares of Standard Motor Products stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $34.97, for a total value of $51,930.45. Following the transaction, the chief financial officer now directly owns 29,015 shares of the company’s stock, valued at $1,014,654.55. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Nathan R. Iles sold 1,485 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $34.97, for a total transaction of $51,930.45. Following the transaction, the chief financial officer now directly owns 29,015 shares of the company’s stock, valued at approximately $1,014,654.55. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Eric Sills sold 1,721 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $34.97, for a total value of $60,183.37. Following the completion of the sale, the chief executive officer now directly owns 175,651 shares in the company, valued at approximately $6,142,515.47. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,454 shares of company stock valued at $225,701 in the last ninety days. Company insiders own 5.00% of the company’s stock.

About Standard Motor Products

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.