Standard Motor Products, Inc. (NYSE:SMP) declared a quarterly dividend on Thursday, October 26th, RTT News reports. Stockholders of record on Wednesday, November 15th will be paid a dividend of 0.19 per share on Friday, December 1st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date is Tuesday, November 14th.
Standard Motor Products has increased its dividend payment by an average of 15.6% per year over the last three years and has raised its dividend every year for the last 6 years. Standard Motor Products has a dividend payout ratio of 28.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Standard Motor Products to earn $3.27 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 23.2%.
Standard Motor Products (NYSE SMP) opened at C$41.24 on Monday. The stock has a market cap of $932.78, a P/E ratio of 15.22, a PEG ratio of 2.57 and a beta of 1.80. Standard Motor Products has a 1 year low of C$40.77 and a 1 year high of C$55.37.
Standard Motor Products (NYSE:SMP) last issued its quarterly earnings results on Thursday, October 26th. The company reported C$0.74 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$0.86 by C($0.12). The firm had revenue of C$281.06 million during the quarter. Standard Motor Products had a return on equity of 13.68% and a net margin of 4.97%. The business’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.92 EPS. equities research analysts forecast that Standard Motor Products will post 2.67 earnings per share for the current year.
In other news, insider Lawrence I. Sills sold 25,417 shares of Standard Motor Products stock in a transaction on Friday, September 1st. The shares were sold at an average price of C$44.23, for a total value of C$1,124,193.91. Following the completion of the sale, the insider now owns 673,127 shares in the company, valued at approximately C$29,772,407.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Thomas Tesoro sold 775 shares of Standard Motor Products stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of C$44.18, for a total transaction of C$34,239.50. Following the completion of the sale, the vice president now owns 31,456 shares of the company’s stock, valued at approximately C$1,389,726.08. The disclosure for this sale can be found here. Insiders sold a total of 110,362 shares of company stock valued at $4,939,667 in the last quarter. 6.60% of the stock is currently owned by company insiders.
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SMP has been the topic of a number of recent analyst reports. BidaskClub upgraded shares of Standard Motor Products from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Zacks Investment Research downgraded shares of Standard Motor Products from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. Jefferies Group LLC restated a “buy” rating and issued a $60.00 price target on shares of Standard Motor Products in a research report on Wednesday, August 9th. ValuEngine downgraded shares of Standard Motor Products from a “buy” rating to a “hold” rating in a research report on Thursday, August 31st. Finally, FBR & Co restated a “hold” rating and issued a $48.00 price target on shares of Standard Motor Products in a research report on Friday, October 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of C$54.00.
About Standard Motor Products
Standard Motor Products, Inc is an independent manufacturer and distributor of replacement parts for motor vehicles in the automotive aftermarket industry with a complementary focus on heavy duty, industrial equipment and the original equipment service market. The Company’s segments include Engine Management Segment and Temperature Control Segment.
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