Standard Motor Products, Inc. (SMP) Rating Lowered to Hold at BidaskClub
BidaskClub downgraded shares of Standard Motor Products, Inc. (NYSE:SMP) from a buy rating to a hold rating in a report issued on Monday morning.
Several other equities analysts have also recently weighed in on the company. Zacks Investment Research cut Standard Motor Products from a hold rating to a sell rating in a research note on Friday, August 4th. Jefferies Group LLC restated a buy rating on shares of Standard Motor Products in a research note on Friday, July 7th.
Shares of Standard Motor Products (NYSE:SMP) opened at 45.71 on Monday. Standard Motor Products has a one year low of $42.11 and a one year high of $55.37. The firm has a 50-day moving average of $50.91 and a 200-day moving average of $49.69. The company has a market capitalization of $1.04 billion, a P/E ratio of 17.04 and a beta of 1.81.
Standard Motor Products (NYSE:SMP) last issued its quarterly earnings data on Monday, July 31st. The auto parts company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.99 by $0.18. Standard Motor Products had a net margin of 5.55% and a return on equity of 14.83%. The company had revenue of $312.73 million for the quarter. During the same quarter in the previous year, the business posted $0.88 EPS. The company’s quarterly revenue was up 8.2% on a year-over-year basis. Equities research analysts expect that Standard Motor Products will post $2.87 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend is Friday, August 11th. Standard Motor Products’s dividend payout ratio (DPR) is presently 28.36%.
In other Standard Motor Products news, Director Peter J. Sills sold 5,456 shares of the firm’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $50.23, for a total transaction of $274,054.88. Following the transaction, the director now directly owns 364,013 shares in the company, valued at approximately $18,284,372.99. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Lawrence I. Sills sold 4,800 shares of the firm’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $50.83, for a total value of $243,984.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,950 shares of company stock worth $1,655,699. Company insiders own 6.60% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Pacific Ridge Capital Partners LLC boosted its stake in Standard Motor Products by 12.2% in the second quarter. Pacific Ridge Capital Partners LLC now owns 26,740 shares of the auto parts company’s stock worth $1,396,000 after buying an additional 2,910 shares during the last quarter. Eagle Asset Management Inc. boosted its stake in Standard Motor Products by 1.4% in the second quarter. Eagle Asset Management Inc. now owns 210,212 shares of the auto parts company’s stock worth $10,977,000 after buying an additional 2,985 shares during the last quarter. Royce & Associates LP boosted its stake in Standard Motor Products by 3.5% in the second quarter. Royce & Associates LP now owns 2,141,830 shares of the auto parts company’s stock worth $111,846,000 after buying an additional 72,600 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Standard Motor Products by 17.7% in the second quarter. Victory Capital Management Inc. now owns 4,854 shares of the auto parts company’s stock worth $253,000 after buying an additional 729 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in Standard Motor Products by 31.9% in the second quarter. BNP Paribas Arbitrage SA now owns 7,039 shares of the auto parts company’s stock worth $368,000 after buying an additional 1,702 shares during the last quarter. Institutional investors and hedge funds own 77.83% of the company’s stock.
Standard Motor Products Company Profile
Standard Motor Products, Inc is an independent manufacturer and distributor of replacement parts for motor vehicles in the automotive aftermarket industry with a complementary focus on heavy duty, industrial equipment and the original equipment service market. The Company’s segments include Engine Management Segment and Temperature Control Segment.
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