Standard Motor Products, Inc. (NYSE:SMP) Declares Quarterly Dividend of $0.29

Standard Motor Products, Inc. (NYSE:SMP) declared a quarterly dividend on Tuesday, February 4th,Wall Street Journal reports. Shareholders of record on Friday, February 14th will be given a dividend of 0.29 per share by the auto parts company on Monday, March 3rd. This represents a $1.16 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend is Friday, February 14th.

Standard Motor Products has raised its dividend payment by an average of 5.1% annually over the last three years. Standard Motor Products has a payout ratio of 31.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Standard Motor Products to earn $3.43 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 33.8%.

Standard Motor Products Trading Up 1.5 %

Shares of SMP traded up $0.46 during midday trading on Tuesday, hitting $30.94. The stock had a trading volume of 72,646 shares, compared to its average volume of 88,857. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.25 and a quick ratio of 0.82. The firm has a market cap of $671.91 million, a PE ratio of 19.10 and a beta of 0.52. Standard Motor Products has a 1 year low of $26.09 and a 1 year high of $41.41. The stock’s 50 day moving average is $31.76 and its 200 day moving average is $31.86.

Insider Buying and Selling at Standard Motor Products

In other news, EVP Dale Burks sold 1,722 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $34.96, for a total transaction of $60,201.12. Following the transaction, the executive vice president now owns 67,865 shares in the company, valued at $2,372,560.40. This represents a 2.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Carmine Joseph Broccole sold 913 shares of Standard Motor Products stock in a transaction on Monday, November 11th. The stock was sold at an average price of $34.96, for a total transaction of $31,918.48. Following the sale, the insider now owns 81,241 shares of the company’s stock, valued at $2,840,185.36. The trade was a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,184 shares of company stock valued at $387,041. 5.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Standard Motor Products from a “buy” rating to a “strong-buy” rating in a report on Friday.

Standard Motor Products Company Profile

Standard Motor Products, Inc manufactures and distributes replacement automotive parts in the United States and internationally. The company operates through three segments: Vehicle Control, Temperature Control, and Engineered Solutions segments. The company provides components for the ignition, emissions, and fuel delivery systems, such as air injection and induction components, air management valves, regulators and solenoids, exhaust gas recirculation components, fuel injectors and related components, fuel valves, ignition coils, connectors and sockets, modules, pumps, relays and fuses, starting and charging system parts, and vapor and purge components.