Standard Motor Products (NYSE:SMP) Reaches New 1-Year High at $55.85

Standard Motor Products, Inc. (NYSE:SMP) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $55.85 and last traded at $55.37, with a volume of 97022 shares changing hands. The stock had previously closed at $55.28.

Several brokerages recently issued reports on SMP. Peel Hunt reiterated a “hold” rating on shares of Standard Motor Products in a report on Tuesday, October 22nd. Zacks Investment Research downgraded Standard Motor Products from a “buy” rating to a “sell” rating and set a $56.00 price target for the company. in a report on Monday, November 4th.

The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 21.71, a P/E/G ratio of 1.58 and a beta of 1.01. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.66 and a current ratio of 1.69. The firm has a fifty day moving average of $49.19 and a 200-day moving average of $46.82.

Standard Motor Products (NYSE:SMP) last announced its quarterly earnings results on Wednesday, October 30th. The auto parts company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.10. Standard Motor Products had a return on equity of 14.40% and a net margin of 4.35%. The firm had revenue of $307.70 million during the quarter, compared to the consensus estimate of $311.11 million. During the same period in the prior year, the firm earned $0.83 EPS. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, analysts predict that Standard Motor Products, Inc. will post 3.08 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be given a $0.23 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.92 dividend on an annualized basis and a yield of 1.66%. Standard Motor Products’s payout ratio is currently 36.08%.

In other Standard Motor Products news, VP Thomas Tesoro sold 725 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $47.52, for a total value of $34,452.00. Following the completion of the transaction, the vice president now directly owns 26,271 shares of the company’s stock, valued at approximately $1,248,397.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Carmine Joseph Broccole sold 707 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $49.17, for a total transaction of $34,763.19. Following the completion of the transaction, the senior vice president now directly owns 59,928 shares of the company’s stock, valued at $2,946,659.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 67,146 shares of company stock valued at $3,319,752. 6.60% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC purchased a new position in Standard Motor Products in the 3rd quarter valued at about $41,000. Quantamental Technologies LLC purchased a new position in Standard Motor Products in the 2nd quarter valued at about $68,000. Bank of Montreal Can boosted its position in Standard Motor Products by 131.0% in the 2nd quarter. Bank of Montreal Can now owns 2,938 shares of the auto parts company’s stock valued at $133,000 after buying an additional 1,666 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in Standard Motor Products in the 2nd quarter valued at about $222,000. Finally, Municipal Employees Retirement System of Michigan boosted its position in Standard Motor Products by 29.4% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 7,660 shares of the auto parts company’s stock valued at $347,000 after buying an additional 1,740 shares during the last quarter. 78.45% of the stock is owned by institutional investors.

About Standard Motor Products (NYSE:SMP)

Standard Motor Products, Inc manufactures and distributes replacement parts for motor vehicles in the automotive aftermarket industry. The company operates in two segments, Engine Management and Temperature Control. The Engine Management segment offers electronic ignition control modules, new and remanufactured fuel injectors, ignition wires, coils, switches, relays, EGR valves, distributor caps and rotors, sensors, electronic throttle bodies, keyless entry transmitters, safety-related components, and other engine management components.

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