Standard Motor Products (NYSE:SMP) CFO Nathan Iles Sells 1,356 Shares

Standard Motor Products, Inc. (NYSE:SMP) CFO Nathan Iles sold 1,356 shares of the business’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $38.30, for a total value of $51,934.80. Following the transaction, the chief financial officer owned 37,468 shares in the company, valued at $1,435,024.40. This represents a 3.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Standard Motor Products Stock Performance

Shares of NYSE:SMP traded down $0.46 during trading on Thursday, hitting $38.49. 12,145 shares of the stock were exchanged, compared to its average volume of 166,234. The company has a market capitalization of $846.63 million, a price-to-earnings ratio of 21.87 and a beta of 0.68. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 2.16. Standard Motor Products, Inc. has a 1-year low of $21.38 and a 1-year high of $42.13. The company’s fifty day simple moving average is $39.64 and its 200-day simple moving average is $34.87.

Standard Motor Products (NYSE:SMP) last issued its 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. The firm had revenue of $498.84 million during the quarter, compared to analysts’ expectations of $503.33 million. Standard Motor Products had a return on equity of 12.98% and a net margin of 2.39%. Sell-side analysts expect that Standard Motor Products, Inc. will post 3.08 EPS for the current fiscal year.

Standard Motor Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Friday, November 14th. Standard Motor Products’s payout ratio is 88.57%.

Institutional Trading of Standard Motor Products

Hedge funds have recently modified their holdings of the stock. CSM Advisors LLC acquired a new position in Standard Motor Products during the 2nd quarter worth $6,024,000. BNP Paribas Financial Markets increased its position in 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 worth $6,794,000 after purchasing an additional 173,912 shares during the period. Gamco Investors INC. ET AL raised its holdings in Standard Motor Products by 21.1% during the 2nd quarter. Gamco Investors INC. ET AL now owns 956,691 shares of the auto parts company’s stock worth $29,390,000 after purchasing an additional 166,481 shares during the last quarter. Prudential Financial Inc. lifted its position in Standard Motor Products by 165.5% during the 2nd quarter. Prudential Financial Inc. now owns 162,041 shares of the auto parts company’s stock valued at $4,978,000 after purchasing an additional 101,008 shares during the period. Finally, Brandywine Global Investment Management LLC bought a new position in shares of Standard Motor Products in the 2nd quarter valued at about $2,905,000. 81.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Standard Motor Products in a report on Thursday, October 30th. Roth Capital reaffirmed a “buy” rating and set a $49.00 price objective on shares of Standard Motor Products in a research note on Monday, November 3rd. Wall Street Zen raised shares of Standard Motor Products from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 26th. Finally, Zacks Research upgraded shares of Standard Motor Products from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $49.00.

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.