Standard Motor Products, Inc. (SMP) to Distribute Quarterly Dividend of $0.33 on September 1st

Standard Motor Products, Inc. (NYSE:SMP) declared a quarterly dividend on Tuesday, August 4th. Shareholders of record on Friday, August 14th will be given a dividend of 0.33 per share by the auto parts company on Tuesday, September 1st. This represents a c) annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Friday, August 14th.

Standard Motor Products has raised its dividend by an average of 0.2%annually over the last three years and has raised its dividend every year for the last 1 years. Standard Motor Products has a dividend payout ratio of 31.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Standard Motor Products to earn $4.94 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 26.7%.

Standard Motor Products Stock Performance

NYSE SMP opened at $39.69 on Wednesday. The stock has a market capitalization of $886.65 million, a PE ratio of 17.72 and a beta of 0.82. The business has a 50 day simple moving average of $38.90 and a two-hundred day simple moving average of $38.87. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.00 and a quick ratio of 0.80. Standard Motor Products has a 1-year low of $34.27 and a 1-year high of $46.00.

Standard Motor Products (NYSE:SMP) last issued its quarterly earnings data on Tuesday, August 4th. The auto parts company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.01. The business had revenue of $526.72 million for the quarter, compared to the consensus estimate of $511.68 million. Standard Motor Products had a return on equity of 13.28% and a net margin of 2.78%.During the same period in the prior year, the business posted $1.13 earnings per share. On average, research analysts predict that Standard Motor Products will post 4.23 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Zacks Research downgraded shares of Standard Motor Products from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 12th. Wall Street Zen lowered Standard Motor Products from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Weiss Ratings raised Standard Motor Products from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, July 28th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $49.00.

About Standard Motor Products

Standard Motor Products, Inc, headquartered in Long Island City, New York, is a leading manufacturer and distributor of aftermarket and original equipment automotive parts. Since its founding in 1919, the company has focused on engineering, testing, and supplying ignition and temperature management products for passenger cars and light trucks. Its product lineup includes ignition coils, spark plug wires, sensors, switches, heating and air conditioning controls, and related electronic components.

The company operates through two primary segments: Engine Management and Temperature Control.