Standard Motor Products (NYSE:SMP) EVP Sells $350,364.21 in Stock

Standard Motor Products, Inc. (NYSE:SMP) EVP Dale Burks sold 9,051 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $38.71, for a total value of $350,364.21. Following the completion of the transaction, the executive vice president owned 56,955 shares in the company, valued at $2,204,728.05. The trade was a 13.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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 shares were sold at an average price of $38.76, for a total value of $135,660.00.

Standard Motor Products Stock Performance

Shares of SMP traded up $0.06 on Tuesday, reaching $38.82. 104,324 shares of the company’s stock traded hands, compared to its average volume of 131,846. The stock’s 50 day simple moving average is $38.88 and its two-hundred day simple moving average is $38.85. The stock has a market cap of $867.17 million, a PE ratio of 17.33 and a beta of 0.82. Standard Motor Products, Inc. has a 52-week low of $34.27 and a 52-week high of $46.00. The company has a current ratio of 2.00, a quick ratio of 0.80 and a debt-to-equity ratio of 0.73.

Standard Motor Products (NYSE:SMP) last posted its quarterly earnings data 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. The business had revenue of $526.72 million for the quarter, compared to analysts’ expectations of $511.68 million. Standard Motor Products had a return on equity of 13.28% and a net margin of 2.78%.During the same quarter in the previous year, the firm earned $1.13 earnings per share. On average, analysts forecast that Standard Motor Products, Inc. will post 4.23 earnings per share for the current fiscal year.

Standard Motor Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, August 14th. Standard Motor Products’s payout ratio is 58.93%.

Institutional Investors Weigh In On Standard Motor Products

Several institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC boosted its position in 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 purchasing an additional 412 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Standard Motor Products in the second quarter valued at approximately $35,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Standard Motor Products by 7,560.0% during 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 buying an additional 1,134 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings 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 worth $71,000 after buying an additional 1,613 shares during the period. Finally, iSAM Funds UK Ltd bought a new position in Standard Motor Products in the 3rd quarter worth approximately $99,000. 81.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on SMP shares. Zacks Research cut shares of Standard Motor Products from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 12th. Wall Street Zen raised shares of Standard Motor Products from a “hold” rating to a “buy” rating in a report on Sunday. Finally, Weiss Ratings upgraded Standard Motor Products from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, July 28th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $49.00.

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.