Shares of Standard Motor Products, Inc. (NYSE:SMP) have earned a consensus rating of “Hold” from the six analysts that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $54.00.
SMP has been the topic of several research reports. Zacks Investment Research upgraded shares of Standard Motor Products from a “sell” rating to a “hold” rating in a research report on Thursday, July 5th. CL King downgraded shares of Standard Motor Products from a “buy” rating to a “neutral” rating in a research report on Monday, July 9th. Finally, ValuEngine upgraded shares of Standard Motor Products from a “hold” rating to a “buy” rating in a research report on Wednesday, August 15th.
Shares of SMP traded up $0.12 during trading hours on Tuesday, hitting $51.59. The stock had a trading volume of 2,323 shares, compared to its average volume of 84,431. Standard Motor Products has a 52 week low of $40.56 and a 52 week high of $51.88. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 18.23, a PEG ratio of 2.46 and a beta of 1.65.
Standard Motor Products (NYSE:SMP) last posted its earnings results on Thursday, July 26th. The auto parts company reported $0.74 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.79 by ($0.05). Standard Motor Products had a return on equity of 12.38% and a net margin of 2.66%. The firm had revenue of $286.64 million during the quarter. During the same quarter last year, the firm posted $0.81 earnings per share. The business’s revenue was down 8.3% compared to the same quarter last year. sell-side analysts predict that Standard Motor Products will post 2.61 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 4th. Investors of record on Wednesday, August 15th were given a dividend of $0.21 per share. The ex-dividend date was Tuesday, August 14th. This represents a $0.84 annualized dividend and a yield of 1.63%. Standard Motor Products’s dividend payout ratio (DPR) is 29.68%.
Standard Motor Products declared that its Board of Directors has initiated a stock buyback program on Friday, May 18th that authorizes the company to buyback $20.00 million in outstanding shares. This buyback authorization authorizes the auto parts company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.
In other Standard Motor Products news, Director Frederick D. Sturdivant sold 4,000 shares of the company’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $50.00, for a total transaction of $200,000.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Ray Nicholas sold 1,281 shares of the company’s stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $48.04, for a total transaction of $61,539.24. Following the transaction, the vice president now owns 32,250 shares in the company, valued at $1,549,290. The disclosure for this sale can be found here. 6.60% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in SMP. US Bancorp DE raised its position in shares of Standard Motor Products by 121.9% in the 2nd quarter. US Bancorp DE now owns 2,135 shares of the auto parts company’s stock valued at $104,000 after acquiring an additional 1,173 shares during the period. Bruderman Asset Management LLC acquired a new stake in shares of Standard Motor Products in the 2nd quarter valued at approximately $125,000. Dubuque Bank & Trust Co. acquired a new stake in shares of Standard Motor Products in the 2nd quarter valued at approximately $148,000. Envestnet Asset Management Inc. raised its position in shares of Standard Motor Products by 118.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 3,808 shares of the auto parts company’s stock valued at $175,000 after acquiring an additional 2,065 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Standard Motor Products in the 2nd quarter valued at approximately $207,000. Institutional investors own 83.45% of the company’s stock.
Standard Motor Products Company Profile
Standard Motor Products, Inc manufactures and distributes replacement parts for motor vehicles in the automotive aftermarket industry. Its Engine Management segment manufactures and distributes engine management replacement parts, including electronic ignition control modules, fuel injectors, remanufactured diesel injectors and pumps, ignition wires, coils, switches, relays, EGR valves, distributor caps and rotors, various sensors primarily measuring temperature, vehicle systems, electronic throttle bodies, and other engine management components primarily under the Standard, Blue Streak, BWD, Select, Intermotor, OEM, LockSmart, TechSmart, Tech Expert, and GP Sorensen brands.
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