Standard Motor Products (NYSE:SMP) Shares Up 9.7% – What’s Next?

Standard Motor Products, Inc. (NYSE:SMP)’s stock price shot up 9.7% during mid-day trading on Wednesday . The company traded as high as $40.63 and last traded at $41.84. 30,002 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 123,295 shares. The stock had previously closed at $38.13.

Analyst Ratings Changes

A number of research firms have issued reports on SMP. Zacks Research downgraded Standard Motor Products from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 12th. Weiss Ratings downgraded Standard Motor Products from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 20th. Finally, Wall Street Zen downgraded Standard Motor Products from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 7th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $49.00.

Standard Motor Products Trading Up 5.5%

The stock has a market cap of $895.76 million, a P/E ratio of 19.69 and a beta of 0.80. The company has a current ratio of 2.23, a quick ratio of 0.78 and a debt-to-equity ratio of 0.86. The company has a 50-day moving average price of $37.09 and a two-hundred day moving average price of $38.46.

Standard Motor Products (NYSE:SMP) last released its earnings results on Thursday, April 30th. The auto parts company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.09. The firm had revenue of $451.17 million for the quarter, compared to the consensus estimate of $429.07 million. Standard Motor Products had a return on equity of 12.98% and a net margin of 2.51%. On average, research analysts expect that Standard Motor Products, Inc. will post 4.4 EPS for the current fiscal year.

Standard Motor Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 15th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.32 annualized dividend and a dividend yield of 3.3%. Standard Motor Products’s payout ratio is currently 64.71%.

Hedge Funds Weigh In On Standard Motor Products

Hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC grew its position in Standard Motor Products by 76.7% in the 1st quarter. Parallel Advisors LLC now owns 949 shares of the auto parts company’s stock valued at $33,000 after acquiring an additional 412 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its position in Standard Motor Products by 7,560.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,149 shares of the auto parts company’s stock valued at $42,000 after acquiring an additional 1,134 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Standard Motor Products by 235.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,298 shares of the auto parts company’s stock valued at $71,000 after acquiring an additional 1,613 shares during the last quarter. iSAM Funds UK Ltd bought a new position in Standard Motor Products in the 3rd quarter valued at $99,000. Finally, Quantbot Technologies LP bought a new position in Standard Motor Products in the 3rd quarter valued at $108,000. Institutional investors own 81.26% of the company’s stock.

Standard Motor Products Company Profile

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.