Standard Motor Products (NYSE:SMP) Shares Down 9.5% – Time to Sell?

Shares of Standard Motor Products, Inc. (NYSE:SMP) were down 9.5% during mid-day trading on Thursday . The stock traded as low as $39.14 and last traded at $38.9950. Approximately 72,923 shares were traded during mid-day trading, a decline of 40% from the average daily volume of 121,993 shares. The stock had previously closed at $43.10.

Analyst Ratings Changes

Several research firms have weighed in on SMP. Roth Mkm reiterated a “buy” rating and set a $49.00 target price on shares of Standard Motor Products in a report on Monday, November 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Standard Motor Products in a report on Monday, December 29th. Finally, Zacks Research cut Standard Motor Products from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 1st. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Standard Motor Products presently has a consensus rating of “Hold” and an average price target of $49.00.

Standard Motor Products Trading Down 10.2%

The stock has a market cap of $851.29 million, a price-to-earnings ratio of 27.64 and a beta of 0.76. The business has a 50-day simple moving average of $40.48 and a two-hundred day simple moving average of $39.43. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.77 and a current ratio of 1.96.

Standard Motor Products (NYSE:SMP) last issued its quarterly earnings results on Thursday, February 26th. The auto parts company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.45 by $0.11. Standard Motor Products had a net margin of 1.79% and a return on equity of 13.15%. The firm had revenue of $385.09 million for the quarter, compared to analysts’ expectations of $385.91 million. As a group, research analysts forecast that Standard Motor Products, Inc. will post 3.08 EPS for the current year.

Standard Motor Products Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Monday, February 16th will be issued a $0.33 dividend. This is an increase from Standard Motor Products’s previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Friday, February 13th. Standard Motor Products’s dividend payout ratio is presently 94.29%.

Insider Buying and Selling at Standard Motor Products

In other news, VP Ray Nicholas sold 9,093 shares of the firm’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $38.01, for a total transaction of $345,624.93. Following the completion of the sale, the vice president owned 40,609 shares in the company, valued at approximately $1,543,548.09. This trade represents a 18.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 5.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Standard Motor Products by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,446 shares of the auto parts company’s stock worth $310,000 after acquiring an additional 546 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Standard Motor Products during the 1st quarter worth approximately $214,000. Empowered Funds LLC boosted its stake in Standard Motor Products by 3.0% in the 1st quarter. Empowered Funds LLC now owns 114,036 shares of the auto parts company’s stock valued at $2,843,000 after purchasing an additional 3,352 shares during the period. Jane Street Group LLC boosted its stake in Standard Motor Products by 320.0% in the 1st quarter. Jane Street Group LLC now owns 64,037 shares of the auto parts company’s stock valued at $1,596,000 after purchasing an additional 48,790 shares during the period. Finally, Nisa Investment Advisors LLC grew its holdings in Standard Motor Products by 4,842.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 939 shares of the auto parts company’s stock valued at $29,000 after buying an additional 920 shares in the last quarter. 81.26% of the stock is owned by institutional investors.

About Standard Motor Products

Standard Motor Products, Inc, headquartered in Long Island City, New York, is a leading manufacturer and distributor of aftermarket and original equipment automotive parts. Since its founding in 1919, the company has focused on engineering, testing, and supplying ignition and temperature management products for passenger cars and light trucks. Its product lineup includes ignition coils, spark plug wires, sensors, switches, heating and air conditioning controls, and related electronic components.

The company operates through two primary segments: Engine Management and Temperature Control.