Standard Motor Products (NYSE:SMP) Hits New 52-Week Low - Should You Sell?

Shares of Standard Motor Products, Inc. (NYSE:SMP - Get Free Report) hit a new 52-week low during mid-day 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.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Standard Motor Products from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 3rd.

Standard Motor Products Price Performance

The business's 50-day simple moving average is $27.94 and its 200 day simple moving average is $30.55. The company has a market capitalization of $474.73 million, a P/E ratio of 13.40 and a beta of 0.57. The company has a current ratio of 2.25, a quick ratio of 0.82 and a debt-to-equity ratio of 0.21.

Standard Motor Products (NYSE:SMP - Get Free Report) last announced its earnings results on Thursday, February 27th. The auto parts company reported $0.47 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $343.35 million for the quarter, compared to analysts' expectations of $292.50 million. As a group, sell-side analysts anticipate that Standard Motor Products, Inc. will post 3.08 EPS for the current year.

Standard Motor Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 5.34%. The ex-dividend date of this dividend was Friday, February 14th. Standard Motor Products's dividend payout ratio (DPR) is presently 100.81%.

Insider Activity

In other news, EVP Dale Burks sold 11,005 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $27.20, for a total transaction of $299,336.00. Following the completion of the sale, the executive vice president now directly owns 56,860 shares of the company's stock, valued at $1,546,592. This trade represents a 16.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 5.00% of the company's stock.

Hedge Funds Weigh In On Standard Motor Products

A number of hedge funds and other institutional investors have recently modified their holdings of SMP. Rhumbline Advisers increased its position in shares of Standard Motor Products by 8.4% in the first quarter. Rhumbline Advisers now owns 128,896 shares of the auto parts company's stock worth $3,213,000 after acquiring an additional 9,979 shares in the last quarter. GAMMA Investing LLC grew its position in Standard Motor Products by 2,880.9% during the 1st quarter. GAMMA Investing LLC now owns 26,351 shares of the auto parts company's stock worth $657,000 after purchasing an additional 25,467 shares in the last quarter. Central Pacific Bank Trust Division raised its stake in Standard Motor Products by 68.0% during the 1st quarter. Central Pacific Bank Trust Division now owns 4,200 shares of the auto parts company's stock valued at $105,000 after purchasing an additional 1,700 shares during the period. Probity Advisors Inc. grew its holdings in shares of Standard Motor Products by 17.7% during the fourth quarter. Probity Advisors Inc. now owns 10,671 shares of the auto parts company's stock valued at $331,000 after buying an additional 1,603 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Standard Motor Products by 3.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 45,660 shares of the auto parts company's stock valued at $1,415,000 after buying an additional 1,388 shares during the period. Institutional investors and hedge funds own 81.26% of the company's stock.

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.