Standard Motor Products, Inc. (SMP) to Issue Quarterly Dividend of $0.29 on March 3rd

Standard Motor Products, Inc. (NYSE:SMP) declared a quarterly dividend on Monday, February 3rd,Wall Street Journal reports. Stockholders of record on Friday, February 14th will be paid a dividend of 0.29 per share by the auto parts company on Monday, March 3rd. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date of this dividend is Friday, February 14th.

Standard Motor Products has raised its dividend by an average of 5.1% annually over the last three years. Standard Motor Products has a dividend payout ratio of 31.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Standard Motor Products to earn $3.43 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 33.8%.

Standard Motor Products Stock Performance

NYSE:SMP opened at $31.25 on Wednesday. The firm has a market capitalization of $678.64 million, a PE ratio of 19.29 and a beta of 0.52. The stock’s fifty day moving average is $31.51 and its 200 day moving average is $31.83. Standard Motor Products has a fifty-two week low of $26.09 and a fifty-two week high of $41.41. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.82 and a current ratio of 2.25.

Insider Buying and Selling at Standard Motor Products

In other Standard Motor Products news, VP Ray Nicholas sold 4,730 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $34.11, for a total value of $161,340.30. Following the sale, the vice president now owns 46,385 shares in the company, valued at $1,582,192.35. This trade represents a 9.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 5.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Standard Motor Products from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 31st.

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.