Standard Motor Products (NYSE:SMP) EVP Dale Burks Sells 5,798 Shares of Stock

Standard Motor Products, Inc. (NYSE:SMP) EVP Dale Burks sold 5,798 shares of Standard Motor Products stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $39.00, for a total value of $226,122.00. Following the completion of the transaction, the executive vice president owned 47,657 shares of the company’s stock, valued at approximately $1,858,623. This represents a 10.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Dale Burks also recently made the following trade(s):

• On Tuesday, August 18th, Dale Burks sold 3,500 shares of Standard Motor Products stock. The stock was sold at an average price of $38.76, for a total transaction of $135,660.00.
• On Friday, August 14th, Dale Burks sold 9,051 shares of Standard Motor Products stock. The stock was sold at an average price of $38.71, for a total value of $350,364.21.

Standard Motor Products Trading Down 1.2%

Shares of SMP opened at $38.17 on Friday. The company has a quick ratio of 0.80, a current ratio of 2.00 and a debt-to-equity ratio of 0.73. The firm’s fifty day moving average is $38.84 and its two-hundred day moving average is $38.82. Standard Motor Products, Inc. has a 52-week low of $34.27 and a 52-week high of $46.00. The stock has a market cap of $852.72 million, a PE ratio of 17.04 and a beta of 0.82.

Standard Motor Products (NYSE:SMP) last issued its earnings results on Tuesday, August 4th. The auto parts company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.01. Standard Motor Products had a return on equity of 13.28% and a net margin of 2.78%.The business had revenue of $526.72 million for the quarter, compared to analysts’ expectations of $511.68 million. During the same period in the previous year, the firm posted $1.13 EPS. Research analysts forecast that Standard Motor Products, Inc. will post 4.23 earnings per share for the current fiscal year.

Standard Motor Products Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be issued a dividend of $0.33 per share. The ex-dividend date is Friday, August 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.5%. Standard Motor Products’s dividend payout ratio is currently 58.93%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Wall Street Zen raised Standard Motor Products from a “hold” rating to a “buy” rating in a research note on Sunday, August 16th. Weiss Ratings raised shares of Standard Motor Products from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, July 28th. Finally, Zacks Research cut shares of Standard Motor Products from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 12th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $49.00.

Institutional Investors Weigh In On Standard Motor Products

Several hedge funds and other institutional investors have recently made changes to their positions in SMP. Osaic Holdings Inc. raised its stake in Standard Motor Products by 6.2% during the 4th quarter. Osaic Holdings Inc. now owns 6,142 shares of the auto parts company’s stock worth $226,000 after acquiring an additional 358 shares in the last quarter. New York State Teachers Retirement System boosted its holdings in shares of Standard Motor Products by 1.2% in the fourth quarter. New York State Teachers Retirement System now owns 32,443 shares of the auto parts company’s stock valued at $1,196,000 after acquiring an additional 389 shares during the period. LPL Financial LLC grew its position in shares of Standard Motor Products by 6.1% during the fourth quarter. LPL Financial LLC now owns 6,946 shares of the auto parts company’s stock worth $256,000 after acquiring an additional 397 shares during the last quarter. Parallel Advisors LLC grew its position in shares of Standard Motor Products by 76.7% during the first quarter. Parallel Advisors LLC now owns 949 shares of the auto parts company’s stock worth $33,000 after acquiring an additional 412 shares during the last quarter. Finally, Illinois Municipal Retirement Fund increased its holdings in shares of Standard Motor Products by 4.2% in the 1st quarter. Illinois Municipal Retirement Fund now owns 11,679 shares of the auto parts company’s stock valued at $406,000 after acquiring an additional 466 shares during the period. Institutional investors and hedge funds own 81.26% of the company’s stock.

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.