Standard Motor Products (NYSE:SMP) Reaches New 52-Week High – Time to Buy?

Standard Motor Products, Inc. (NYSE:SMP) hit a new 52-week high during mid-day trading on Wednesday. The company traded as high as $46.49 and last traded at $46.1790, with a volume of 162,144 shares. The stock had previously closed at $44.86.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SMP shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Standard Motor Products in a report on Monday, October 26th. Wall Street Zen upgraded shares of Standard Motor Products from a “hold” rating to a “buy” rating in a research report on Sunday, August 16th. Finally, Roth Capital reiterated a “buy” rating and set a $54.00 target price on shares of Standard Motor Products in a research report on Monday. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $54.00.

Standard Motor Products Price Performance

The company has a debt-to-equity ratio of 0.56, a current ratio of 1.81 and a quick ratio of 0.73. The firm has a market capitalization of $995.38 million, a PE ratio of 14.61 and a beta of 0.80. The company has a 50-day moving average price of $38.35 and a 200-day moving average price of $38.71.

Standard Motor Products (NYSE:SMP) last issued its quarterly earnings results on Friday, October 30th. The auto parts company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.13. Standard Motor Products had a net margin of 3.77% and a return on equity of 13.65%. The business had revenue of $512.90 million during the quarter, compared to the consensus estimate of $514.99 million. Sell-side analysts forecast that Standard Motor Products, Inc. will post 4.30 EPS for the current year.

Standard Motor Products Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Monday, November 16th will be issued a $0.33 dividend. The ex-dividend date is Monday, November 16th. This represents a $1.32 annualized dividend and a yield of 3.0%. Standard Motor Products’s payout ratio is 43.28%.

Insider Activity

In related news, EVP Dale Burks sold 5,798 shares of the business’s stock in a transaction that occurred 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. The trade was a 10.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 18,349 shares of company stock valued at $712,146 over the last 90 days. 5.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Standard Motor Products

A number of hedge funds have recently made changes to their positions in SMP. Empowered Funds LLC acquired a new position in Standard Motor Products during the 2nd quarter worth approximately $5,492,000. Legal & General Group Plc purchased a new stake in Standard Motor Products during the 2nd quarter worth $2,129,000. Bank of America Corp DE purchased a new position in Standard Motor Products in the 2nd quarter valued at about $4,140,000. SummerHaven Investment Management LLC acquired a new stake in shares of Standard Motor Products during the third quarter valued at about $1,067,000. Finally, Bank of New York Mellon Corp acquired a new position in Standard Motor Products during the 2nd quarter worth $10,882,000. Institutional investors and hedge funds own 81.26% of the company’s stock.

About Standard Motor Products

Standard Motor Products, Inc (NYSE:SMP) manufactures and distributes replacement parts for the automotive aftermarket. The company supplies components used to maintain and repair passenger vehicles, light trucks, and other transportation equipment, serving automotive parts distributors, retailers, repair shops, and vehicle service professionals.

Its product offerings include engine management components such as sensors, ignition parts, fuel system components, and emissions-related products.