Standard Motor Products (NYSE:SMP) EVP Sells $89,162.80 in Stock

Standard Motor Products, Inc. (NYSE:SMP) EVP Dale Burks sold 2,020 shares of the company’s stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $44.14, for a total value of $89,162.80. Following the transaction, the executive vice president owned 47,044 shares in the company, valued at $2,076,522.16. This trade represents a 4.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Dale Burks also recently made the following trade(s):

• On Wednesday, August 19th, Dale Burks sold 5,798 shares of Standard Motor Products stock. The shares were sold at an average price of $39.00, for a total value of $226,122.00.
• On Tuesday, August 18th, Dale Burks sold 3,500 shares of Standard Motor Products stock. The stock was sold at an average price of $38.76, for a total value of $135,660.00.
• On Friday, August 14th, Dale Burks sold 9,051 shares of Standard Motor Products stock. The shares were sold at an average price of $38.71, for a total value of $350,364.21.

Standard Motor Products Stock Down 0.4%

Shares of SMP stock traded down $0.20 during mid-day trading on Thursday, reaching $44.11. 22,210 shares of the company’s stock traded hands, compared to its average volume of 141,353. Standard Motor Products, Inc. has a 12 month low of $34.27 and a 12 month high of $47.27. The company has a market cap of $985.51 million, a P/E ratio of 14.46 and a beta of 0.80. The company has a quick ratio of 0.73, a current ratio of 1.81 and a debt-to-equity ratio of 0.56. The company’s 50-day moving average price is $38.93 and its 200-day moving average price is $38.82.

Standard Motor Products (NYSE:SMP) last issued its quarterly earnings results on Friday, October 30th. The auto parts company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.13. Standard Motor Products had a net margin of 3.77% and a return on equity of 13.65%. The company had revenue of $512.90 million during the quarter, compared to analyst estimates of $514.99 million. On average, equities analysts expect that Standard Motor Products, Inc. will post 4.30 earnings per share for the current fiscal year.

Standard Motor Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Monday, November 16th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, November 16th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.0%. Standard Motor Products’s dividend payout ratio (DPR) is currently 43.28%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SMP shares. Roth Capital reiterated a “buy” rating and set a $54.00 target price on shares of Standard Motor Products in a report on Monday, November 2nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Standard Motor Products in a research report on Monday, October 26th. Finally, Wall Street Zen upgraded Standard Motor Products from a “hold” rating to a “buy” rating in a research note on Sunday, August 16th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $54.00.

Institutional Trading of Standard Motor Products

Institutional investors and hedge funds have recently bought and sold shares of the company. Empowered Funds LLC bought a new position in shares of Standard Motor Products in the second quarter worth approximately $5,492,000. Legal & General Group Plc bought a new stake in shares of Standard Motor Products during the second quarter valued at approximately $2,129,000. Bank of America Corp DE bought a new stake in shares of Standard Motor Products during the second quarter valued at approximately $4,140,000. SummerHaven Investment Management LLC purchased a new position in Standard Motor Products in the 3rd quarter worth approximately $1,067,000. Finally, Ellsworth Advisors LLC purchased a new position in Standard Motor Products in the 3rd quarter worth approximately $2,208,000. 81.26% of the stock is currently owned by institutional investors.

About Standard Motor Products

Standard Motor Products, Inc. (NYSE: SMP) designs, manufactures and distributes replacement parts for the automotive aftermarket, along with components for original equipment manufacturers. Founded in 1919, the company has a long history in the vehicle-parts industry. Its products include ignition, fuel, emissions, engine-management and temperature-control parts, as well as switches, sensors and related electrical components. The company sells products under brands including Standard and Blue Streak.