Standard Motor Products (NYSE:SMP) Shares Gap Up - What's Next?

Shares of Standard Motor Products, Inc. (NYSE:SMP - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $28.66, but opened at $31.79. Standard Motor Products shares last traded at $33.76, with a volume of 18,851 shares changing hands.

Standard Motor Products Stock Performance

The company has a current ratio of 2.46, a quick ratio of 0.93 and a debt-to-equity ratio of 0.31. The company has a market cap of $738.79 million, a P/E ratio of 19.49 and a beta of 0.51. The company has a 50 day moving average price of $31.73 and a 200-day moving average price of $30.89.

Standard Motor Products (NYSE:SMP - Get Free Report) last released its earnings results on Thursday, August 1st. The auto parts company reported $0.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.78 by $0.20. The firm had revenue of $389.80 million for the quarter, compared to analysts' expectations of $365.60 million. Standard Motor Products had a return on equity of 9.90% and a net margin of 2.79%. The business's revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.84 earnings per share. On average, equities analysts expect that Standard Motor Products, Inc. will post 3.01 earnings per share for the current fiscal year.

Standard Motor Products Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend was Thursday, August 15th. Standard Motor Products's payout ratio is 66.29%.

Institutional Trading of Standard Motor Products

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Cornercap Investment Counsel Inc. increased its position in Standard Motor Products by 83.4% in the 2nd quarter. Cornercap Investment Counsel Inc. now owns 48,025 shares of the auto parts company's stock valued at $1,332,000 after acquiring an additional 21,843 shares during the period. Azarias Capital Management L.P. acquired a new stake in shares of Standard Motor Products during the second quarter worth $11,197,000. CWM LLC boosted its position in Standard Motor Products by 3.5% during the third quarter. CWM LLC now owns 24,944 shares of the auto parts company's stock valued at $828,000 after acquiring an additional 833 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Standard Motor Products during the 1st quarter valued at about $301,000. Finally, GAMMA Investing LLC grew its position in shares of Standard Motor Products by 153.8% during the 3rd quarter. GAMMA Investing LLC now owns 906 shares of the auto parts company's stock worth $30,000 after buying an additional 549 shares during the period. 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.