Standard Motor Products, Inc. (SMP) Raises Dividend to $0.21 Per Share
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.
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.
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