Standard Motor Products (NYSE:SMP) Reaches New 52-Week Low – What’s Next?

Standard Motor Products, Inc. (NYSE:SMP) reached a new 52-week low during trading on Thursday . The company traded as low as $23.56 and last traded at $23.63, with a volume of 24592 shares. The stock had previously closed at $25.02.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Standard Motor Products from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd.

Standard Motor Products Stock Performance

The business’s fifty day simple moving average is $28.81 and its 200-day simple moving average is $30.94. The company has a market capitalization of $523.70 million, a P/E ratio of 14.81 and a beta of 0.50. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.82 and a current ratio of 2.25.

Standard Motor Products (NYSE:SMP) last announced its quarterly earnings results on Thursday, February 27th. The auto parts company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.10. Standard Motor Products had a return on equity of 10.42% and a net margin of 2.56%. The company had revenue of $343.35 million during the quarter, compared to analyst estimates of $292.50 million. As a group, equities analysts anticipate that Standard Motor Products, Inc. will post 3.08 earnings per share for the current fiscal year.

Standard Motor Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 4.84%. The ex-dividend date was Friday, February 14th. Standard Motor Products’s dividend payout ratio is presently 100.81%.

Insider Buying and Selling at Standard Motor Products

In other news, EVP Dale Burks sold 11,005 shares of Standard Motor Products stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $27.20, for a total value of $299,336.00. Following the completion of the transaction, the executive vice president now owns 56,860 shares in the company, valued at approximately $1,546,592. The trade was a 16.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.00% of the stock is owned by company insiders.

Institutional Trading of Standard Motor Products

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Proficio Capital Partners LLC bought a new position in Standard Motor Products during the fourth quarter valued at $753,000. Geode Capital Management LLC boosted its stake in shares of Standard Motor Products by 5.9% during the 3rd quarter. Geode Capital Management LLC now owns 485,299 shares of the auto parts company’s stock worth $16,115,000 after purchasing an additional 27,210 shares during the period. State Street Corp grew its holdings in Standard Motor Products by 2.6% during the 3rd quarter. State Street Corp now owns 783,593 shares of the auto parts company’s stock valued at $26,015,000 after purchasing an additional 19,652 shares during the last quarter. Franklin Resources Inc. purchased a new stake in Standard Motor Products in the 3rd quarter worth about $3,876,000. Finally, Versor Investments LP bought a new stake in Standard Motor Products in the fourth quarter worth about $480,000. Hedge funds and other institutional investors own 81.26% of the company’s stock.

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.