Standard Motor Products, Inc. (NYSE:SMP) has received an average recommendation of “Hold” from the six research firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $54.00.

SMP has been the subject of a number of research reports. Zacks Investment Research raised shares of Standard Motor Products from a “sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. ValuEngine cut shares of Standard Motor Products from a “buy” rating to a “hold” rating in a research report on Thursday, August 31st. Jefferies Group reaffirmed a “buy” rating and set a $60.00 price target on shares of Standard Motor Products in a research report on Tuesday, September 12th. FBR & Co reaffirmed a “hold” rating and set a $48.00 price target on shares of Standard Motor Products in a research report on Friday, October 27th. Finally, BidaskClub cut shares of Standard Motor Products from a “buy” rating to a “hold” rating in a research report on Monday, August 7th.

In other Standard Motor Products news, VP Thomas Tesoro sold 775 shares of the company’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $44.18, for a total value of $34,239.50. Following the completion of the transaction, the vice president now directly owns 31,456 shares of the company’s stock, valued at approximately $1,389,726.08. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Ray Nicholas sold 1,331 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $45.25, for a total transaction of $60,227.75. Following the completion of the transaction, the vice president now directly owns 30,250 shares of the company’s stock, valued at $1,368,812.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,224 shares of company stock valued at $1,573,004. 6.60% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the business. State of Alaska Department of Revenue lifted its position in shares of Standard Motor Products by 78.5% during the second quarter. State of Alaska Department of Revenue now owns 3,962 shares of the auto parts company’s stock worth $206,000 after purchasing an additional 1,742 shares during the last quarter. Piedmont Investment Advisors LLC bought a new position in shares of Standard Motor Products during the second quarter worth about $227,000. Victory Capital Management Inc. lifted its position in shares of Standard Motor Products by 17.7% during the second quarter. Victory Capital Management Inc. now owns 4,854 shares of the auto parts company’s stock worth $253,000 after purchasing an additional 729 shares during the last quarter. ClariVest Asset Management LLC bought a new position in shares of Standard Motor Products during the second quarter worth about $256,000. Finally, Nordea Investment Management AB bought a new position in shares of Standard Motor Products during the second quarter worth about $256,000. 79.14% of the stock is owned by institutional investors.

Shares of Standard Motor Products (NYSE:SMP) opened at $44.44 on Friday. Standard Motor Products has a 12-month low of $40.56 and a 12-month high of $55.37. The firm has a market cap of $1,022.57, a price-to-earnings ratio of 16.68, a P/E/G ratio of 2.82 and a beta of 1.80.

Standard Motor Products (NYSE:SMP) last announced its quarterly earnings results on Thursday, October 26th. The auto parts company reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.12). Standard Motor Products had a return on equity of 13.68% and a net margin of 4.97%. The business had revenue of $281.06 million for the quarter. During the same period last year, the business posted $0.92 earnings per share. The company’s revenue for the quarter was down 6.5% compared to the same quarter last year. analysts predict that Standard Motor Products will post 2.67 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th were given a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, November 14th. This represents a $0.76 dividend on an annualized basis and a yield of 1.71%. Standard Motor Products’s payout ratio is currently 32.20%.

Standard Motor Products declared that its board has authorized a share repurchase plan on Monday, November 20th that permits the company to repurchase $10.00 million in shares. This repurchase authorization permits the auto parts company to purchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

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Standard Motor Products Company Profile

Standard Motor Products, Inc is an independent manufacturer and distributor of replacement parts for motor vehicles in the automotive aftermarket industry with a complementary focus on heavy duty, industrial equipment and the original equipment service market. The Company’s segments include Engine Management Segment and Temperature Control Segment.

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