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

Standard Motor Products, Inc. (NYSE:SMP) declared a quarterly dividend on Wednesday, May 1st, Zacks reports. Shareholders of record on Wednesday, May 15th will be given a dividend of 0.29 per share by the auto parts company on Monday, June 3rd. This represents a $1.16 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend is Tuesday, May 14th.

Standard Motor Products has raised its dividend by an average of 32.4% annually over the last three years and has increased its dividend annually for the last 2 consecutive years. Standard Motor Products has a payout ratio of 33.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Standard Motor Products to earn $3.55 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 32.7%.

Standard Motor Products Price Performance

Standard Motor Products stock traded up $0.23 during midday trading on Thursday, reaching $33.01. The company’s stock had a trading volume of 1,527 shares, compared to its average volume of 126,749. Standard Motor Products has a 52 week low of $30.09 and a 52 week high of $41.71. The company has a current ratio of 2.45, a quick ratio of 0.78 and a debt-to-equity ratio of 0.23. The business has a 50-day moving average price of $32.37 and a 200-day moving average price of $35.89. The stock has a market cap of $745.37 million, a PE ratio of 21.29 and a beta of 0.61.

Standard Motor Products (NYSE:SMP) last released its earnings results on Thursday, February 22nd. The auto parts company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.25). Standard Motor Products had a net margin of 2.51% and a return on equity of 10.09%. The business had revenue of $290.76 million during the quarter, compared to the consensus estimate of $313.84 million. On average, sell-side analysts predict that Standard Motor Products will post 3.03 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SMP. TheStreet downgraded Standard Motor Products from a “b” rating to a “c+” rating in a report on Thursday, February 22nd. StockNews.com raised Standard Motor Products from a “hold” rating to a “buy” rating in a research report on Friday, March 29th.

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.