Dale Burks Sells 5,798 Shares of Standard Motor Products (NYSE:SMP) Stock

Standard Motor Products, Inc. (NYSE:SMP) EVP Dale Burks sold 5,798 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $39.00, for a total value of $226,122.00. Following the completion of the sale, the executive vice president directly owned 47,657 shares in the company, valued at approximately $1,858,623. This represents a 10.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• 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 Up 1.2%

Shares of NYSE:SMP opened at $38.69 on Friday. Standard Motor Products, Inc. has a 52 week low of $34.27 and a 52 week high of $46.00. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.80 and a current ratio of 2.00. The company’s fifty day moving average is $38.82 and its 200-day moving average is $38.82. The company has a market capitalization of $864.33 million, a PE ratio of 17.27 and a beta of 0.82.

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

Standard Motor Products Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.32 annualized dividend and a dividend yield of 3.4%. Standard Motor Products’s dividend payout ratio (DPR) is presently 58.93%.

Institutional Trading of Standard Motor Products

Several hedge funds have recently modified their holdings of SMP. BlackRock Inc. bought a new position in Standard Motor Products in the 2nd quarter worth approximately $158,258,000. Dimensional Fund Advisors LP boosted its position in Standard Motor Products by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,386,382 shares of the auto parts company’s stock valued at $51,089,000 after buying an additional 4,927 shares during the last quarter. Royce & Associates LP increased its stake in shares of Standard Motor Products by 3.4% in the 4th quarter. Royce & Associates LP now owns 1,101,199 shares of the auto parts company’s stock valued at $40,579,000 after buying an additional 36,688 shares during the period. Gamco Investors INC. ET AL raised its position in shares of Standard Motor Products by 1.7% during the first quarter. Gamco Investors INC. ET AL now owns 996,928 shares of the auto parts company’s stock worth $34,633,000 after acquiring an additional 16,664 shares during the last quarter. Finally, State Street Corp raised its position in shares of Standard Motor Products by 0.6% during the fourth quarter. State Street Corp now owns 826,471 shares of the auto parts company’s stock worth $30,455,000 after acquiring an additional 5,319 shares during the last quarter. 81.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Zacks Research lowered Standard Motor Products from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 12th. Weiss Ratings raised Standard Motor Products from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, July 28th. Finally, Wall Street Zen upgraded Standard Motor Products from a “hold” rating to a “buy” rating in a report on Sunday, August 16th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Standard Motor Products presently has a consensus rating of “Moderate Buy” and an average target price of $49.00.

Standard Motor Products Company Profile

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.