Standard Motor Products, Inc. (NYSE:SMP) released its earnings results on Monday, July 31st. The auto parts company reported $0.81 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.99 by $0.18, Briefing.com reports. The firm had revenue of $312.73 million during the quarter. Standard Motor Products had a net margin of 5.55% and a return on equity of 14.83%. The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.88 EPS.
Shares of Standard Motor Products (NYSE:SMP) traded down 0.02% on Friday, reaching $45.32. The company’s stock had a trading volume of 73,951 shares. The company has a market cap of $1.03 billion, a P/E ratio of 16.89 and a beta of 1.81. The company’s 50 day moving average price is $50.47 and its 200 day moving average price is $49.60. Standard Motor Products has a 12-month low of $42.11 and a 12-month high of $55.37.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.76 annualized dividend and a yield of 1.68%. Standard Motor Products’s dividend payout ratio is currently 28.36%.
In other Standard Motor Products news, VP Thomas Tesoro sold 3,950 shares of the stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $47.91, for a total value of $189,244.50. Following the completion of the sale, the vice president now owns 29,026 shares in the company, valued at approximately $1,390,635.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Carmine Joseph Broccole sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $49.49, for a total value of $98,980.00. Following the transaction, the senior vice president now owns 47,823 shares of the company’s stock, valued at approximately $2,366,760.27. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,750 shares of company stock worth $1,645,693. Insiders own 6.60% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. State of Alaska Department of Revenue raised its position in shares of Standard Motor Products by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 2,220 shares of the auto parts company’s stock worth $109,000 after buying an additional 60 shares during the period. Envestnet Asset Management Inc. purchased a new position in Standard Motor Products during the first quarter valued at about $152,000. NN Investment Partners Holdings N.V. purchased a new position in Standard Motor Products during the second quarter valued at about $186,000. Victory Capital Management Inc. raised its position in Standard Motor Products by 119.1% in the first quarter. Victory Capital Management Inc. now owns 4,125 shares of the auto parts company’s stock valued at $203,000 after buying an additional 2,242 shares in the last quarter. Finally, Park National Corp OH increased its stake in Standard Motor Products by 0.4% in the first quarter. Park National Corp OH now owns 4,474 shares of the auto parts company’s stock valued at $220,000 after buying an additional 16 shares during the last quarter. 77.83% of the stock is owned by institutional investors and hedge funds.
Several research analysts have weighed in on the company. Zacks Investment Research raised Standard Motor Products from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a research report on Tuesday, April 18th. BidaskClub downgraded Standard Motor Products from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $56.00 price target on shares of Standard Motor Products in a research note on Wednesday, May 3rd.
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About Standard Motor Products
Standard Motor Products, Inc is an independent manufacturer and distributor of replacement parts for motor vehicles in the automotive aftermarket industry with a complementary focus on heavy duty, industrial equipment and the original equipment service market. The Company’s segments include Engine Management Segment and Temperature Control Segment.
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