Dale Burks Sells 3,500 Shares of Standard Motor Products (NYSE:SMP) Stock

Standard Motor Products, Inc. (NYSE:SMP) EVP Dale Burks sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $38.76, for a total value of $135,660.00. Following the sale, the executive vice president owned 53,455 shares in the company, valued at $2,071,915.80. This trade represents a 6.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, August 14th, Dale Burks sold 9,051 shares of Standard Motor Products stock. The stock was sold at an average price of $38.71, for a total value of $350,364.21.

Standard Motor Products Price Performance

SMP traded up $0.06 during trading on Tuesday, hitting $38.82. The company’s stock had a trading volume of 104,324 shares, compared to its average volume of 131,846. The company has a current ratio of 2.00, a quick ratio of 0.80 and a debt-to-equity ratio of 0.73. Standard Motor Products, Inc. has a twelve month low of $34.27 and a twelve month high of $46.00. The business’s fifty day simple moving average is $38.88 and its 200 day simple moving average is $38.85. The firm has a market capitalization of $867.17 million, a price-to-earnings ratio of 17.33 and a beta of 0.82.

Standard Motor Products (NYSE:SMP) last posted its quarterly earnings data on Tuesday, August 4th. The auto parts company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.01. Standard Motor Products had a return on equity of 13.28% and a net margin of 2.78%.The business had revenue of $526.72 million during the quarter, compared to analysts’ expectations of $511.68 million. During the same period in the previous year, the business earned $1.13 earnings per share. On average, equities research analysts forecast that Standard Motor Products, Inc. will post 4.23 EPS for the current fiscal year.

Standard Motor Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be given a dividend of $0.33 per share. The ex-dividend date is Friday, August 14th. This represents a $1.32 dividend on an annualized basis and a yield of 3.4%. Standard Motor Products’s dividend payout ratio is currently 58.93%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SMP. Weiss Ratings raised shares of Standard Motor Products from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, July 28th. Zacks Research lowered Standard Motor Products from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 12th. Finally, Wall Street Zen raised Standard Motor Products from a “hold” rating to a “buy” rating in a report on Sunday. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $49.00.

Hedge Funds Weigh In On Standard Motor Products

Several institutional investors and hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC grew its holdings in shares of Standard Motor Products by 76.7% during the 1st quarter. Parallel Advisors LLC now owns 949 shares of the auto parts company’s stock worth $33,000 after purchasing an additional 412 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of Standard Motor Products in the 2nd quarter valued at approximately $35,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Standard Motor Products by 7,560.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,149 shares of the auto parts company’s stock worth $42,000 after acquiring an additional 1,134 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Standard Motor Products by 235.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,298 shares of the auto parts company’s stock worth $71,000 after purchasing an additional 1,613 shares during the period. Finally, iSAM Funds UK Ltd acquired a new stake in Standard Motor Products in the 3rd quarter valued at approximately $99,000. 81.26% of the stock is currently owned by institutional investors and hedge funds.

Standard Motor Products Company Profile

Standard Motor Products, Inc, headquartered in Long Island City, New York, is a leading manufacturer and distributor of aftermarket and original equipment automotive parts. Since its founding in 1919, the company has focused on engineering, testing, and supplying ignition and temperature management products for passenger cars and light trucks. Its product lineup includes ignition coils, spark plug wires, sensors, switches, heating and air conditioning controls, and related electronic components.

The company operates through two primary segments: Engine Management and Temperature Control.