Standard Motor Products (NYSE:SMP) VP Sells 1,263 Shares of Stock

Standard Motor Products, Inc. (NYSE:SMP) VP Ray Nicholas sold 1,263 shares of Standard Motor Products stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $44.17, for a total transaction of $55,786.71. Following the completion of the sale, the vice president directly owned 35,166 shares in the company, valued at approximately $1,553,282.22. This represents a 3.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Standard Motor Products Stock Performance

Shares of NYSE:SMP traded down $0.20 during mid-day trading on Thursday, reaching $44.11. The company had a trading volume of 22,210 shares, compared to its average volume of 141,353. The firm has a market cap of $985.51 million, a price-to-earnings ratio of 14.46 and a beta of 0.80. The company’s 50-day moving average price is $38.93 and its 200-day moving average price is $38.82. The company has a current ratio of 1.81, a quick ratio of 0.73 and a debt-to-equity ratio of 0.56. Standard Motor Products, Inc. has a one year low of $34.27 and a one year high of $47.27.

Standard Motor Products (NYSE:SMP) last announced its quarterly earnings data on Friday, October 30th. The auto parts company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.13. The company had revenue of $512.90 million during the quarter, compared to analyst estimates of $514.99 million. Standard Motor Products had a return on equity of 13.65% and a net margin of 3.77%. As a group, equities research analysts anticipate that Standard Motor Products, Inc. will post 4.30 EPS for the current fiscal year.

Standard Motor Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Monday, November 16th will be paid a $0.33 dividend. The ex-dividend date is Monday, November 16th. This represents a $1.32 annualized dividend and a yield of 3.0%. Standard Motor Products’s dividend payout ratio (DPR) is currently 43.28%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SMP. Wall Street Zen upgraded Standard Motor Products from a “hold” rating to a “buy” rating in a research report on Sunday, August 16th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Standard Motor Products in a research report on Monday, October 26th. Finally, Roth Capital restated a “buy” rating and issued a $54.00 target price on shares of Standard Motor Products in a research report on Monday, November 2nd. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Standard Motor Products currently has an average rating of “Moderate Buy” and a consensus target price of $54.00.

Hedge Funds Weigh In On Standard Motor Products

Institutional investors and hedge funds have recently bought and sold shares of the stock. Empowered Funds LLC purchased a new position in Standard Motor Products in the 2nd quarter worth approximately $5,492,000. Legal & General Group Plc purchased a new position in shares of Standard Motor Products in the second quarter worth $2,129,000. Bank of America Corp DE bought a new stake in Standard Motor Products during the 2nd quarter valued at $4,140,000. SummerHaven Investment Management LLC bought a new stake in Standard Motor Products during the 3rd quarter valued at $1,067,000. Finally, Ellsworth Advisors LLC purchased a new stake in Standard Motor Products during the 3rd quarter valued at $2,208,000. 81.26% of the stock is currently owned by institutional investors.

About Standard Motor Products

Standard Motor Products, Inc. (NYSE: SMP) designs, manufactures and distributes replacement parts for the automotive aftermarket, along with components for original equipment manufacturers. Founded in 1919, the company has a long history in the vehicle-parts industry. Its products include ignition, fuel, emissions, engine-management and temperature-control parts, as well as switches, sensors and related electrical components. The company sells products under brands including Standard and Blue Streak.