Standard Motor Products (NYSE:SMP) Shares Cross Above 50 Day Moving Average – What’s Next?

Standard Motor Products, Inc. (NYSE:SMP)’s stock price crossed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $37.64 and traded as high as $37.99. Standard Motor Products shares last traded at $37.8350, with a volume of 134,251 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SMP shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Standard Motor Products in a research report on Monday. Wall Street Zen upgraded Standard Motor Products from a “hold” rating to a “buy” rating in a research report on Sunday, August 16th. Finally, Roth Capital reaffirmed a “buy” rating and set a $54.00 price target on shares of Standard Motor Products in a research note on Monday, October 12th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $54.00.

Standard Motor Products Stock Performance

The firm’s 50-day moving average price is $37.64 and its 200 day moving average price is $38.57. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.80 and a current ratio of 2.00. The company has a market cap of $845.23 million, a price-to-earnings ratio of 16.89 and a beta of 0.85.

Standard Motor Products (NYSE:SMP) last posted its quarterly earnings results on Tuesday, August 4th. The auto parts company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.01. Standard Motor Products had a net margin of 2.78% and a return on equity of 13.28%. The business had revenue of $526.72 million during the quarter, compared to the consensus estimate of $511.68 million. During the same period in the previous year, the firm posted $1.13 earnings per share. On average, sell-side analysts anticipate that Standard Motor Products, Inc. will post 4.23 EPS for the current year.

Standard Motor Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Friday, August 14th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.5%. Standard Motor Products’s payout ratio is 58.93%.

Insiders Place Their Bets

In other Standard Motor Products news, EVP Dale Burks sold 9,051 shares of Standard Motor Products stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $38.71, for a total transaction of $350,364.21. Following the transaction, the executive vice president directly owned 56,955 shares in the company, valued at approximately $2,204,728.05. The trade was a 13.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last 90 days, insiders have sold 18,349 shares of company stock worth $712,146. 5.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio bought a new position in shares of Standard Motor Products during the 2nd quarter worth approximately $35,000. Parallel Advisors LLC boosted its holdings 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 last quarter. Tompkins Financial Corp acquired a new position in Standard Motor Products during the third quarter worth $37,000. Versant Capital Management Inc boosted its holdings in 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 worth $43,000 after purchasing an additional 546 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its position in Standard Motor Products by 24.6% in the third quarter. Nisa Investment Advisors LLC now owns 2,195 shares of the auto parts company’s stock valued at $81,000 after purchasing an additional 433 shares in the last quarter. 81.26% of the stock is owned by institutional investors and hedge funds.

Standard Motor Products Company Profile

Standard Motor Products, Inc (NYSE:SMP) manufactures and distributes replacement parts for the automotive aftermarket. The company supplies components used to maintain and repair passenger vehicles, light trucks, and other transportation equipment, serving automotive parts distributors, retailers, repair shops, and vehicle service professionals.

Its product offerings include engine management components such as sensors, ignition parts, fuel system components, and emissions-related products.