Standard Motor Products (NYSE:SMP) Insider Carmine Joseph Broccole Sells 1,708 Shares of Stock

Standard Motor Products, Inc. (NYSE:SMP) insider Carmine Broccole sold 1,708 shares of the business’s stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $44.13, for a total value of $75,374.04. Following the transaction, the insider directly owned 74,305 shares of the company’s stock, valued at $3,279,079.65. This represents a 2.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Standard Motor Products Price Performance

Shares of NYSE:SMP opened at $44.00 on Friday. The business has a 50 day moving average price of $39.04 and a 200 day moving average price of $38.84. Standard Motor Products, Inc. has a twelve month low of $34.27 and a twelve month high of $47.27. The company has a market cap of $982.96 million, a price-to-earnings ratio of 14.43 and a beta of 0.80. The company has a quick ratio of 0.73, a current ratio of 1.81 and a debt-to-equity ratio of 0.56.

Standard Motor Products (NYSE:SMP) last released its earnings results on Friday, October 30th. The auto parts company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.13. The firm had revenue of $512.90 million for 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%. Research analysts predict that Standard Motor Products, Inc. will post 4.30 earnings per share for the current year.

Standard Motor Products Announces Dividend

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

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Standard Motor Products

Large investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC raised its holdings 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 in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Standard Motor Products by 24.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,195 shares of the auto parts company’s stock worth $81,000 after purchasing an additional 433 shares in the last quarter. Illinois Municipal Retirement Fund increased its position in shares of Standard Motor Products by 4.2% during the first quarter. Illinois Municipal Retirement Fund now owns 11,679 shares of the auto parts company’s stock valued at $406,000 after purchasing an additional 466 shares during the period. Fifth Third Bancorp increased its position in shares of Standard Motor Products by 10.7% during the third quarter. Fifth Third Bancorp now owns 5,182 shares of the auto parts company’s stock valued at $192,000 after purchasing an additional 501 shares during the period. Finally, Versant Capital Management Inc increased its position in shares of Standard Motor Products by 89.1% during the third quarter. Versant Capital Management Inc now owns 1,159 shares of the auto parts company’s stock valued at $43,000 after purchasing an additional 546 shares during the period. Institutional investors and hedge funds own 81.26% of the company’s stock.

Standard Motor Products Company Profile

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.