Standard Motor Products (NYSE:SMP) Cut to Hold at StockNews.com

StockNews.com lowered shares of Standard Motor Products (NYSE:SMP) from a strong-buy rating to a hold rating in a research note issued to investors on Monday morning.

Standard Motor Products Stock Performance

Shares of Standard Motor Products stock opened at $28.15 on Monday. The firm has a fifty day moving average of $30.75 and a two-hundred day moving average of $31.76. The stock has a market capitalization of $611.47 million, a price-to-earnings ratio of 17.38 and a beta of 0.52. Standard Motor Products has a 52 week low of $26.09 and a 52 week high of $35.92. 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 released its quarterly earnings data 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 net margin of 2.56% and a return on equity of 10.42%. The business had revenue of $343.35 million during the quarter, compared to analysts’ expectations of $292.50 million. As a group, equities research analysts predict that Standard Motor Products will post 3.08 EPS for the current year.

Standard Motor Products Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date of this dividend was Friday, February 14th. Standard Motor Products’s dividend payout ratio is currently 100.81%.

Insider Activity at Standard Motor Products

In related news, VP Ray Nicholas sold 4,730 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $34.11, for a total value of $161,340.30. Following the completion of the sale, the vice president now owns 46,385 shares in the company, valued at $1,582,192.35. This represents a 9.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Standard Motor Products

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SMP. Franklin Resources Inc. acquired a new position in Standard Motor Products in the 3rd quarter worth $3,876,000. Raymond James Financial Inc. acquired a new position in Standard Motor Products in the 4th quarter worth $2,710,000. American Century Companies Inc. boosted its stake in Standard Motor Products by 21.1% in the 4th quarter. American Century Companies Inc. now owns 497,258 shares of the auto parts company’s stock worth $15,405,000 after purchasing an additional 86,640 shares during the period. Algert Global LLC acquired a new position in Standard Motor Products in the 4th quarter worth $2,524,000. Finally, Royce & Associates LP boosted its stake in Standard Motor Products by 6.0% in the 3rd quarter. Royce & Associates LP now owns 1,295,997 shares of the auto parts company’s stock worth $43,027,000 after purchasing an additional 73,476 shares during the period. 81.26% of the stock is owned by institutional investors and hedge funds.

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.