Standard Motor Products, Inc. (NYSE:SMP - Get Free Report) reached a new 52-week low during trading on Thursday after an insider sold shares in the company. The stock traded as low as $26.04 and last traded at $25.72, with a volume of 9884 shares trading hands. The stock had previously closed at $26.16.
Specifically, EVP Dale Burks sold 11,005 shares of the company's stock in a transaction 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 sale, the executive vice president now directly owns 56,860 shares in the company, valued at $1,546,592. This represents a 16.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Wall Street Analysts Forecast Growth
Separately, StockNews.com lowered Standard Motor Products from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd.
View Our Latest Research Report on Standard Motor Products
Standard Motor Products Stock Up 1.3 %
The company's fifty day moving average is $30.23 and its 200-day moving average is $31.56. The company has a market capitalization of $580.04 million, a PE ratio of 16.38 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 - Get Free Report) last released its earnings results on Thursday, February 27th. The auto parts company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.10. The company had revenue of $343.35 million during the quarter, compared to analyst estimates of $292.50 million. Standard Motor Products had a net margin of 2.56% and a return on equity of 10.42%. As a group, analysts predict that Standard Motor Products, Inc. will post 3.08 EPS for the current fiscal year.
Standard Motor Products Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 4.37%. The ex-dividend date was Friday, February 14th. Standard Motor Products's dividend payout ratio is 100.81%.
Institutional Investors Weigh In On Standard Motor Products
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Inspire Investing LLC lifted its holdings in Standard Motor Products by 3.1% in the 4th quarter. Inspire Investing LLC now owns 12,896 shares of the auto parts company's stock worth $400,000 after purchasing an additional 383 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in Standard Motor Products by 5.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 9,421 shares of the auto parts company's stock worth $292,000 after purchasing an additional 446 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in Standard Motor Products by 20.6% in the 4th quarter. Farther Finance Advisors LLC now owns 2,651 shares of the auto parts company's stock worth $82,000 after purchasing an additional 453 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Standard Motor Products by 4.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,900 shares of the auto parts company's stock worth $369,000 after purchasing an additional 469 shares in the last quarter. Finally, Barclays PLC lifted its holdings in Standard Motor Products by 1.2% in the 4th quarter. Barclays PLC now owns 49,118 shares of the auto parts company's stock worth $1,521,000 after purchasing an additional 596 shares in the last quarter. 81.26% of the stock is owned by hedge funds and other institutional investors.
About Standard Motor Products
(
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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.
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