Insider Selling: Standard Motor Products (NYSE:SMP) EVP Sells 5,798 Shares

Standard Motor Products, Inc. (NYSE:SMP) EVP Dale Burks sold 5,798 shares of Standard Motor Products stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $39.00, for a total value of $226,122.00. Following the transaction, the executive vice president directly owned 47,657 shares in the company, valued at approximately $1,858,623. This trade represents a 10.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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 shares were 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 stock was sold at an average price of $38.71, for a total transaction of $350,364.21.

Standard Motor Products Stock Performance

Shares of Standard Motor Products stock traded down $0.48 during trading on Thursday, reaching $38.17. The company’s stock had a trading volume of 105,447 shares, compared to its average volume of 131,769. The company has a 50-day moving average price of $38.86 and a two-hundred day moving average price of $38.84. The firm has a market cap of $852.72 million, a PE ratio of 17.04 and a beta of 0.82. Standard Motor Products, Inc. has a fifty-two week low of $34.27 and a fifty-two week high of $46.00. The company has a current ratio of 2.00, a quick ratio of 0.80 and a debt-to-equity ratio of 0.73.

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

Standard Motor Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be paid a dividend of $0.33 per share. The ex-dividend date is Friday, August 14th. This represents a $1.32 annualized dividend and a dividend yield of 3.5%. Standard Motor Products’s dividend payout ratio is 58.93%.

Analyst Ratings Changes

Several equities analysts recently issued reports on SMP shares. Wall Street Zen upgraded Standard Motor Products from a “hold” rating to a “buy” rating in a research report on Sunday. Zacks Research downgraded Standard Motor Products from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 12th. Finally, Weiss Ratings raised Standard Motor Products from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, July 28th. Two 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 company currently has an average rating of “Moderate Buy” and a consensus target price of $49.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Standard Motor Products by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,446 shares of the auto parts company’s stock worth $310,000 after purchasing an additional 546 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Standard Motor Products in the 1st quarter valued at approximately $214,000. Empowered Funds LLC boosted its holdings in Standard Motor Products by 3.0% in the 1st quarter. Empowered Funds LLC now owns 114,036 shares of the auto parts company’s stock valued at $2,843,000 after purchasing an additional 3,352 shares in the last quarter. Jane Street Group LLC increased its position in Standard Motor Products by 320.0% during the 1st quarter. Jane Street Group LLC now owns 64,037 shares of the auto parts company’s stock worth $1,596,000 after purchasing an additional 48,790 shares during the period. Finally, Creative Planning acquired a new position in Standard Motor Products during the 2nd quarter worth approximately $431,000. 81.26% of the stock is currently owned by institutional investors and hedge funds.

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.