Standard Motor Products (NYSE:SMP) Hits New 1-Year High – What’s Next?

Standard Motor Products, Inc. (NYSE:SMP)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $38.19 and last traded at $37.17, with a volume of 253634 shares changing hands. The stock had previously closed at $37.39.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Standard Motor Products from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 26th.

Standard Motor Products Trading Up 4.0%

The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 2.16. The business has a 50 day simple moving average of $32.43 and a 200-day simple moving average of $29.28. The stock has a market capitalization of $883.56 million, a P/E ratio of 22.83 and a beta of 0.63.

Standard Motor Products (NYSE:SMP) last released its earnings results on Tuesday, August 5th. The auto parts company reported $1.29 EPS for the quarter, beating the consensus estimate of $0.97 by $0.32. The business had revenue of $493.85 million during the quarter, compared to analyst estimates of $450.21 million. Standard Motor Products had a net margin of 2.39% and a return on equity of 12.98%. The business’s quarterly revenue was up 26.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.98 earnings per share. On average, analysts predict that Standard Motor Products, Inc. will post 3.08 EPS for the current year.

Standard Motor Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, August 15th. Standard Motor Products’s dividend payout ratio (DPR) is 70.45%.

Institutional Investors Weigh In On Standard Motor Products

Several hedge funds have recently bought and sold shares of the business. SummerHaven Investment Management LLC increased its position in Standard Motor Products by 1.6% during the first quarter. SummerHaven Investment Management LLC now owns 29,228 shares of the auto parts company’s stock worth $729,000 after buying an additional 463 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Standard Motor Products by 4.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,900 shares of the auto parts company’s stock worth $369,000 after purchasing an additional 469 shares in the last quarter. Barclays PLC increased its holdings in Standard Motor Products by 1.2% in the 4th quarter. Barclays PLC now owns 49,118 shares of the auto parts company’s stock valued at $1,521,000 after buying an additional 596 shares during the period. Legal & General Group Plc raised its position in Standard Motor Products by 1.2% in the second quarter. Legal & General Group Plc now owns 54,801 shares of the auto parts company’s stock worth $1,683,000 after purchasing an additional 628 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Standard Motor Products by 4,842.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 939 shares of the auto parts company’s stock worth $29,000 after buying an additional 920 shares in the last quarter. 81.26% of the stock is owned by hedge funds and other institutional investors.

About Standard Motor Products

Standard Motor Products, Inc manufactures and distributes replacement automotive parts in the United States and internationally. The company operates through three segments: Vehicle Control, Temperature Control, and Engineered Solutions segments. The company provides components for the ignition, emissions, and fuel delivery systems, such as air injection and induction components, air management valves, regulators and solenoids, exhaust gas recirculation components, fuel injectors and related components, fuel valves, ignition coils, connectors and sockets, modules, pumps, relays and fuses, starting and charging system parts, and vapor and purge components.