Standard Motor Products (NYSE:SMP) EVP Sells $135,660.00 in Stock

Standard Motor Products, Inc. (NYSE:SMP) EVP Dale Burks sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $38.76, for a total value of $135,660.00. Following the completion of the sale, the executive vice president directly owned 53,455 shares in the company, valued at $2,071,915.80. This trade represents a 6.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, August 19th, Dale Burks sold 5,798 shares of Standard Motor Products stock. The stock was sold at an average price of $39.00, for a total value of $226,122.00.
• 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 transaction of $350,364.21.

Standard Motor Products Trading Down 1.2%

SMP opened at $38.17 on Friday. The company’s 50 day moving average is $38.84 and its 200-day moving average is $38.82. Standard Motor Products, Inc. has a 1-year low of $34.27 and a 1-year 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. The company has a market cap of $852.72 million, a P/E ratio of 17.04 and a beta of 0.82.

Standard Motor Products (NYSE:SMP) last announced its quarterly earnings results on Tuesday, August 4th. The auto parts company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $526.72 million during the quarter, compared to analysts’ expectations of $511.68 million. During the same period in the prior year, the company earned $1.13 EPS. Equities research analysts predict that Standard Motor Products, Inc. will post 4.23 earnings per share for the current fiscal year.

Standard Motor Products Dividend Announcement

The firm also recently disclosed 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 yield of 3.5%. The ex-dividend date is Friday, August 14th. Standard Motor Products’s dividend payout ratio (DPR) is 58.93%.

Hedge Funds Weigh In On Standard Motor Products

A number of hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio bought a new position in shares of Standard Motor Products in the 2nd quarter worth about $35,000. Parallel Advisors LLC boosted its position in shares of Standard Motor Products by 76.7% during the 1st quarter. Parallel Advisors LLC now owns 949 shares of the auto parts company’s stock valued at $33,000 after purchasing an additional 412 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in Standard Motor Products by 7,560.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,149 shares of the auto parts company’s stock worth $42,000 after purchasing an additional 1,134 shares during the period. Tower Research Capital LLC TRC grew its stake in Standard Motor Products by 235.5% during the second quarter. Tower Research Capital LLC TRC now owns 2,298 shares of the auto parts company’s stock worth $71,000 after purchasing an additional 1,613 shares during the period. Finally, iSAM Funds UK Ltd bought a new stake in shares of Standard Motor Products in the 3rd quarter valued at $99,000. Institutional investors own 81.26% of the company’s stock.

Analysts Set New Price Targets

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

Standard Motor Products Company Profile

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.