Standard Motor Products (NYSE:SMP) Insider Carmine Joseph Broccole Sells 1,148 Shares of Stock

Standard Motor Products, Inc. (NYSE:SMP) insider Carmine Joseph Broccole sold 1,148 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $38.31, for a total transaction of $43,979.88. Following the completion of the transaction, the insider owned 83,367 shares of the company’s stock, valued at $3,193,789.77. The trade was a 1.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Standard Motor Products Price Performance

NYSE SMP traded down $0.46 on Thursday, hitting $38.49. 12,145 shares of the company’s stock were exchanged, compared to its average volume of 166,234. The stock has a 50-day moving average of $39.64 and a 200-day moving average of $34.87. The company has a current ratio of 2.16, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86. Standard Motor Products, Inc. has a 52 week low of $21.38 and a 52 week high of $42.13. The stock has a market cap of $846.63 million, a price-to-earnings ratio of 21.87 and a beta of 0.68.

Standard Motor Products (NYSE:SMP) last posted its quarterly earnings results on Friday, October 31st. The auto parts company reported $1.36 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $503.33 million. Analysts expect that Standard Motor Products, Inc. will post 3.08 earnings per share for the current year.

Standard Motor Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Friday, November 14th. Standard Motor Products’s dividend payout ratio (DPR) is presently 88.57%.

Institutional Investors Weigh In On Standard Motor Products

A number of hedge funds have recently added to or reduced their stakes in SMP. Nisa Investment Advisors LLC lifted its holdings in shares of Standard Motor Products by 4,842.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 939 shares of the auto parts company’s stock worth $29,000 after purchasing an additional 920 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Standard Motor Products by 188.3% during the first quarter. PNC Financial Services Group Inc. now owns 2,295 shares of the auto parts company’s stock valued at $57,000 after buying an additional 1,499 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in 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 valued at $71,000 after acquiring an additional 1,613 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Standard Motor Products in the 3rd quarter worth $108,000. Finally, Harbor Capital Advisors Inc. boosted its holdings in Standard Motor Products by 26.7% during the second quarter. Harbor Capital Advisors Inc. now owns 5,609 shares of the auto parts company’s stock worth $172,000 after purchasing an additional 1,182 shares during the last quarter. Institutional investors and hedge funds own 81.26% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Standard Motor Products Company Profile

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.