Standard Motor Products, Inc. (NYSE:SMP) Insider Sells $43,033.95 in Stock

Standard Motor Products, Inc. (NYSE:SMP) insider Carmine Joseph Broccole sold 1,255 shares of the company’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $34.29, for a total transaction of $43,033.95. Following the completion of the transaction, the insider now owns 76,661 shares in the company, valued at $2,628,705.69. The sale was disclosed in a filing with the SEC, which is available through this link.

Standard Motor Products Trading Up 1.0 %

NYSE:SMP opened at $35.80 on Thursday. The firm has a 50-day simple moving average of $33.79 and a 200-day simple moving average of $35.90. Standard Motor Products, Inc. has a one year low of $30.15 and a one year high of $42.42. The firm has a market cap of $777.93 million, a P/E ratio of 22.24 and a beta of 0.64. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.76 and a current ratio of 2.04.

Standard Motor Products (NYSE:SMP) last issued its quarterly earnings data on Friday, October 27th. The auto parts company reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.12. The company had revenue of $386.40 million during the quarter, compared to the consensus estimate of $391.87 million. Standard Motor Products had a net margin of 2.59% and a return on equity of 11.30%. Standard Motor Products’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.05 earnings per share. Equities analysts anticipate that Standard Motor Products, Inc. will post 3.17 EPS for the current fiscal year.

Standard Motor Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be paid a $0.29 dividend. The ex-dividend date is Tuesday, November 14th. This represents a $1.16 annualized dividend and a yield of 3.24%. Standard Motor Products’s dividend payout ratio (DPR) is presently 72.05%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SMP. TheStreet cut Standard Motor Products from a “b-” rating to a “c+” rating in a research note on Monday, October 16th. StockNews.com raised Standard Motor Products from a “buy” rating to a “strong-buy” rating in a research report on Monday, October 30th.

Hedge Funds Weigh In On Standard Motor Products

A number of large investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its position in shares of Standard Motor Products by 85.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 691 shares of the auto parts company’s stock worth $26,000 after buying an additional 319 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Standard Motor Products by 145.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 938 shares of the auto parts company’s stock valued at $32,000 after acquiring an additional 556 shares in the last quarter. FMR LLC grew its holdings in Standard Motor Products by 131.5% in the first quarter. FMR LLC now owns 1,366 shares of the auto parts company’s stock worth $50,000 after purchasing an additional 776 shares during the last quarter. Captrust Financial Advisors grew its holdings in Standard Motor Products by 47.4% in the first quarter. Captrust Financial Advisors now owns 2,217 shares of the auto parts company’s stock worth $96,000 after purchasing an additional 713 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Standard Motor Products during the 3rd quarter valued at $85,000. 77.05% of the stock is currently owned by institutional investors.

Standard Motor Products Company Profile

Standard Motor Products, Inc manufactures and distributes automotive parts that are used in the maintenance, repair, and service of vehicles in the automotive aftermarket industry in the United States and internationally. The company's Engine Management segment provides electronic ignition control modules, camshaft and crankshaft position sensors, ignition wires and coils, switches and relays, exhaust gas recirculation valves, pressure and temperature sensors, variable valve timing components, mass airflow and fuel pressure sensors, electronic throttle bodies, and diesel injectors and pumps; and anti-lock brake, vehicle speed, tire pressure monitoring, and park assist sensors.