Short Interest in Standard Motor Products, Inc. (NYSE:SMP) Declines By 14.3%

Standard Motor Products, Inc. (NYSE:SMP) was the recipient of a significant decline in short interest during the month of February. As of February 27th, there was short interest totaling 735,203 shares, a decline of 14.3% from the February 12th total of 858,184 shares. Based on an average trading volume of 154,715 shares, the short-interest ratio is currently 4.8 days. Currently, 3.5% of the shares of the stock are short sold. Currently, 3.5% of the shares of the stock are short sold. Based on an average trading volume of 154,715 shares, the short-interest ratio is currently 4.8 days.

Analyst Ratings Changes

A number of research analysts have recently commented on SMP shares. Wall Street Zen cut shares of Standard Motor Products from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 7th. Zacks Research lowered shares of Standard Motor Products from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 1st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Standard Motor Products in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $49.00.

Institutional Trading of Standard Motor Products

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd grew its position in shares of Standard Motor Products by 7,560.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,149 shares of the auto parts company’s stock valued at $42,000 after buying an additional 1,134 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Standard Motor Products by 235.5% during the second quarter. Tower Research Capital LLC TRC now owns 2,298 shares of the auto parts company’s stock worth $71,000 after acquiring an additional 1,613 shares during the last quarter. iSAM Funds UK Ltd bought a new position in shares of Standard Motor Products during the third quarter worth about $99,000. Quantbot Technologies LP acquired a new position in shares of Standard Motor Products in the third quarter worth approximately $108,000. Finally, Zacks Investment Management acquired a new position in shares of Standard Motor Products in the third quarter worth approximately $202,000. 81.26% of the stock is currently owned by institutional investors and hedge funds.

Standard Motor Products Trading Down 2.4%

Standard Motor Products stock traded down $0.87 during trading hours on Tuesday, hitting $35.51. The stock had a trading volume of 126,313 shares, compared to its average volume of 141,132. The business’s 50 day simple moving average is $40.48 and its 200-day simple moving average is $39.34. Standard Motor Products has a one year low of $21.38 and a one year high of $46.00. The stock has a market cap of $786.50 million, a price-to-earnings ratio of 19.19 and a beta of 0.75. The company has a quick ratio of 0.69, a current ratio of 2.13 and a debt-to-equity ratio of 0.81.

Standard Motor Products (NYSE:SMP) last released its quarterly earnings results on Thursday, February 26th. The auto parts company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.11. Standard Motor Products had a return on equity of 13.15% and a net margin of 2.31%.The company had revenue of $385.09 million for the quarter, compared to analysts’ expectations of $385.91 million. On average, equities analysts predict that Standard Motor Products will post 3.08 EPS for the current fiscal year.

Standard Motor Products Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Monday, February 16th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.7%. This is a boost from Standard Motor Products’s previous quarterly dividend of $0.31. The ex-dividend date was Friday, February 13th. Standard Motor Products’s dividend payout ratio (DPR) is presently 71.35%.

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.