Standard Motor Products, Inc. (NYSE:SMP) Announces Quarterly Dividend of $0.33

Standard Motor Products, Inc. (NYSE:SMP) announced a quarterly dividend on Tuesday, August 4th. Investors of record on Friday, August 14th will be given a dividend of 0.33 per share by the auto parts company on Tuesday, September 1st. This represents a c) dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Friday, August 14th.

Standard Motor Products has raised its dividend payment by an average of 0.2%per year over the last three years and has increased its dividend every year for the last 1 years. Standard Motor Products has a payout ratio of 31.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Standard Motor Products to earn $4.94 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 26.7%.

Standard Motor Products Price Performance

SMP stock traded up $2.34 during trading on Tuesday, hitting $41.12. The stock had a trading volume of 300,448 shares, compared to its average volume of 131,717. The company’s 50 day moving average price is $38.80 and its two-hundred day moving average price is $38.84. Standard Motor Products has a 1-year low of $31.58 and a 1-year high of $46.00. The stock has a market cap of $915.54 million, a price-to-earnings ratio of 20.16 and a beta of 0.81. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.78 and a current ratio of 2.23.

Standard Motor Products (NYSE:SMP) last released its quarterly earnings results on Tuesday, August 4th. The auto parts company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.01. Standard Motor Products had a net margin of 2.51% and a return on equity of 12.98%. The company had revenue of $526.72 million for the quarter, compared to analysts’ expectations of $511.68 million. During the same period last year, the company earned $1.13 EPS. On average, sell-side analysts forecast that Standard Motor Products will post 4.4 EPS for the current fiscal year.

Insider Transactions at Standard Motor Products

In related news, VP Ray Nicholas sold 5,822 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $39.75, for a total transaction of $231,424.50. Following the completion of the transaction, the vice president owned 35,327 shares of the company’s stock, valued at approximately $1,404,248.25. This represents a 14.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 5.50% of the company’s stock.

Institutional Trading of Standard Motor Products

Several institutional investors have recently made changes to their positions in SMP. Delphi Management Inc. MA grew its position in Standard Motor Products by 506.3% during the fourth quarter. Delphi Management Inc. MA now owns 34,661 shares of the auto parts company’s stock valued at $1,277,000 after acquiring an additional 28,944 shares during the period. SG Americas Securities LLC raised its holdings in shares of Standard Motor Products by 207.8% in the 1st quarter. SG Americas Securities LLC now owns 259,180 shares of the auto parts company’s stock worth $9,004,000 after purchasing an additional 174,986 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Standard Motor Products by 727.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 98,751 shares of the auto parts company’s stock valued at $3,431,000 after purchasing an additional 86,823 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Standard Motor Products by 405.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 50,990 shares of the auto parts company’s stock valued at $2,081,000 after purchasing an additional 40,898 shares in the last quarter. Finally, Congruence Capital LLC purchased a new stake in shares of Standard Motor Products during the 4th quarter worth about $6,571,000. 81.26% of the stock is owned by hedge funds and other institutional investors.

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.