Dale Burks Sells 1,002 Shares of Standard Motor Products (NYSE:SMP) Stock

Standard Motor Products, Inc. (NYSE:SMP) EVP Dale Burks sold 1,002 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $38.41, for a total value of $38,486.82. Following the transaction, the executive vice president directly owned 61,396 shares of the company’s stock, valued at $2,358,220.36. The trade was a 1.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, November 11th, Dale Burks sold 1,180 shares of Standard Motor Products stock. The shares were sold at an average price of $38.30, for a total transaction of $45,194.00.

Standard Motor Products Stock Up 3.1%

SMP stock traded up $1.18 during mid-day trading on Wednesday, reaching $39.59. The company had a trading volume of 62,668 shares, compared to its average volume of 166,553. Standard Motor Products, Inc. has a fifty-two week low of $21.38 and a fifty-two week high of $42.13. The firm has a fifty day simple moving average of $39.65 and a 200 day simple moving average of $34.84. 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 company has a market capitalization of $870.83 million, a price-to-earnings ratio of 22.49 and a beta of 0.68.

Standard Motor Products (NYSE:SMP) last released its quarterly earnings results on Friday, October 31st. The auto parts company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.14 by $0.22. Standard Motor Products had a return on equity of 12.98% and a net margin of 2.39%.The company had revenue of $498.84 million for the quarter, compared to analyst estimates of $503.33 million. Analysts forecast that Standard Motor Products, Inc. will post 3.08 earnings per share for the current fiscal year.

Standard Motor Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be given a dividend of $0.31 per share. The ex-dividend date is Friday, November 14th. This represents a $1.24 dividend on an annualized basis and a yield of 3.1%. Standard Motor Products’s dividend payout ratio (DPR) is 88.57%.

Analyst Upgrades and Downgrades

SMP has been the subject of a number of research reports. Zacks Research raised Standard Motor Products from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Roth Capital restated a “buy” rating and issued a $49.00 target price on shares of Standard Motor Products in a research note on Monday, November 3rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Standard Motor Products in a research note on Thursday, October 30th. Finally, Wall Street Zen raised shares of Standard Motor Products from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $49.00.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SMP. CSM Advisors LLC bought a new position in Standard Motor Products during the 2nd quarter valued at $6,024,000. BNP Paribas Financial Markets lifted its holdings in shares of Standard Motor Products by 368.2% in the second quarter. BNP Paribas Financial Markets now owns 221,147 shares of the auto parts company’s stock valued at $6,794,000 after buying an additional 173,912 shares during the period. Gamco Investors INC. ET AL boosted its stake in Standard Motor Products by 21.1% during the second quarter. Gamco Investors INC. ET AL now owns 956,691 shares of the auto parts company’s stock valued at $29,390,000 after buying an additional 166,481 shares in the last quarter. Prudential Financial Inc. lifted its holdings in Standard Motor Products by 165.5% in the 2nd quarter. Prudential Financial Inc. now owns 162,041 shares of the auto parts company’s stock valued at $4,978,000 after acquiring an additional 101,008 shares during the last quarter. Finally, Brandywine Global Investment Management LLC bought a new position in shares of Standard Motor Products during the 2nd quarter valued at about $2,905,000. Institutional investors and hedge funds own 81.26% of the company’s stock.

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.