Standard Motor Products, Inc. (SMP) to Issue Quarterly Dividend of $0.29 on March 1st

Standard Motor Products, Inc. (NYSE:SMPGet Free Report) announced a quarterly dividend on Monday, February 5th, Zacks reports. Shareholders of record on Thursday, February 15th will be given a dividend of 0.29 per share by the auto parts company on Friday, March 1st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend is Wednesday, February 14th.

Standard Motor Products has increased its dividend by an average of 32.4% annually over the last three years and has raised its dividend annually for the last 2 consecutive years.

Standard Motor Products Stock Performance

SMP stock opened at $40.58 on Wednesday. The company has a market cap of $881.80 million, a P/E ratio of 25.20 and a beta of 0.66. Standard Motor Products has a 1 year low of $30.15 and a 1 year high of $41.97. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.04 and a quick ratio of 0.76. The stock’s fifty day moving average price is $39.33 and its 200-day moving average price is $36.64.

Insider Activity

In other news, CEO Eric Sills sold 2,550 shares of the business’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $34.85, for a total value of $88,867.50. Following the transaction, the chief executive officer now directly owns 173,453 shares in the company, valued at $6,044,837.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Eric Sills sold 2,550 shares of Standard Motor Products stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $34.85, for a total value of $88,867.50. Following the sale, the chief executive officer now directly owns 173,453 shares of the company’s stock, valued at $6,044,837.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Ray Nicholas sold 1,242 shares of Standard Motor Products stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $34.87, for a total value of $43,308.54. Following the completion of the sale, the vice president now directly owns 47,203 shares in the company, valued at $1,645,968.61. The disclosure for this sale can be found here. Insiders have sold 8,652 shares of company stock worth $300,720 over the last ninety days. Corporate insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Standard Motor Products

Several large investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its stake in Standard Motor Products by 85.8% during the second quarter. PNC Financial Services Group Inc. now owns 691 shares of the auto parts company’s stock worth $26,000 after acquiring an additional 319 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in Standard Motor Products by 6.0% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 5,716 shares of the auto parts company’s stock worth $215,000 after acquiring an additional 326 shares during the last quarter. Captrust Financial Advisors increased its stake in Standard Motor Products by 4.4% during the second quarter. Captrust Financial Advisors now owns 8,528 shares of the auto parts company’s stock worth $320,000 after acquiring an additional 357 shares during the last quarter. Swiss National Bank increased its stake in Standard Motor Products by 1.0% during the second quarter. Swiss National Bank now owns 42,300 shares of the auto parts company’s stock worth $1,587,000 after acquiring an additional 400 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in Standard Motor Products by 6.0% during the fourth quarter. Franklin Resources Inc. now owns 7,588 shares of the auto parts company’s stock worth $264,000 after acquiring an additional 427 shares during the last quarter. 77.05% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. StockNews.com upgraded Standard Motor Products from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 30th. TheStreet upgraded Standard Motor Products from a “c+” rating to a “b-” rating in a research report on Wednesday, December 20th.

Check Out Our Latest Analysis on SMP

About Standard Motor Products

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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.

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Dividend History for Standard Motor Products (NYSE:SMP)

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