Standard Motor Products, Inc. (NYSE:SMP) announced a quarterly dividend on Thursday, February 1st, RTT News reports. Investors of record on Thursday, February 15th will be paid a dividend of 0.21 per share by the auto parts company on Thursday, March 1st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date is Wednesday, February 14th. This is a boost from Standard Motor Products’s previous quarterly dividend of $0.19.

Standard Motor Products has increased its dividend payment by an average of 13.5% annually over the last three years and has raised its dividend annually for the last 7 consecutive years. Standard Motor Products has a payout ratio of 28.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Standard Motor Products to earn $3.27 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 23.2%.

Shares of Standard Motor Products (NYSE SMP) opened at $47.07 on Tuesday. The company has a market cap of $1,061.25, a P/E ratio of 17.31, a P/E/G ratio of 2.39 and a beta of 1.82. Standard Motor Products has a 52 week low of $40.56 and a 52 week high of $54.73.

Standard Motor Products announced that its Board of Directors has approved a share buyback plan on Monday, November 20th that allows the company to buyback $10.00 million in outstanding shares. This buyback authorization allows the auto parts company to purchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

A number of analysts recently commented on SMP shares. Zacks Investment Research cut shares of Standard Motor Products from a “hold” rating to a “strong sell” rating in a research note on Monday, October 30th. B. Riley reaffirmed a “neutral” rating on shares of Standard Motor Products in a report on Wednesday, November 1st. Finally, FBR & Co reaffirmed a “hold” rating and set a $48.00 target price on shares of Standard Motor Products in a report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $54.00.

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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.

Dividend History for Standard Motor Products (NYSE:SMP)

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