Standard Motor Products (NYSE:SMP) Hits New 12-Month Low – Here’s Why

Standard Motor Products, Inc. (NYSE:SMP)’s stock price reached a new 52-week low on Thursday . The stock traded as low as $23.56 and last traded at $23.63, with a volume of 24592 shares trading hands. The stock had previously closed at $25.02.

Analysts Set New Price Targets

Separately, StockNews.com lowered Standard Motor Products from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd.

Standard Motor Products Trading Down 2.6 %

The business’s 50-day simple moving average is $28.50 and its 200-day simple moving average is $30.82. The company has a current ratio of 2.25, a quick ratio of 0.82 and a debt-to-equity ratio of 0.21. The company has a market cap of $508.69 million, a PE ratio of 14.36 and a beta of 0.50.

Standard Motor Products (NYSE:SMP) last issued its earnings results 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 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 the consensus estimate of $292.50 million. As a group, analysts expect that Standard Motor Products, Inc. will post 3.08 EPS for the current fiscal year.

Standard Motor Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a dividend of $0.29 per share. The ex-dividend date was Friday, February 14th. This represents a $1.16 annualized dividend and a dividend yield of 4.99%. Standard Motor Products’s dividend payout ratio (DPR) is 100.81%.

Insider Activity

In other news, EVP Dale Burks sold 11,005 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were 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 approximately $1,546,592. The trade was a 16.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.00% of the stock is owned by insiders.

Institutional Trading of Standard Motor Products

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Aquatic Capital Management LLC acquired a new position in Standard Motor Products during the 4th quarter valued at $30,000. Versant Capital Management Inc lifted its stake in shares of Standard Motor Products by 147.2% in the fourth quarter. Versant Capital Management Inc now owns 1,031 shares of the auto parts company’s stock valued at $32,000 after buying an additional 614 shares during the period. FMR LLC grew its position in Standard Motor Products by 64.6% during the third quarter. FMR LLC now owns 1,745 shares of the auto parts company’s stock worth $58,000 after buying an additional 685 shares in the last quarter. Farther Finance Advisors LLC raised 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 valued at $82,000 after acquiring an additional 453 shares in the last quarter. Finally, Central Pacific Bank Trust Division raised its holdings in Standard Motor Products by 68.0% in 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 acquiring an additional 1,700 shares in the last quarter. Institutional investors and hedge funds 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.