Wall Street analysts forecast that Standard Motor Products, Inc. (NYSE:SMP) will post $247.02 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Standard Motor Products’ earnings, with estimates ranging from $244.34 million to $249.70 million. Standard Motor Products reported sales of $239.98 million during the same quarter last year, which would suggest a positive year over year growth rate of 2.9%. The firm is expected to issue its next earnings report on Tuesday, February 19th.
On average, analysts expect that Standard Motor Products will report full year sales of $1.09 billion for the current year. For the next fiscal year, analysts forecast that the business will report sales of $1.14 billion, with estimates ranging from $1.13 billion to $1.15 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Standard Motor Products.
SMP has been the subject of a number of recent research reports. ValuEngine upgraded shares of Standard Motor Products from a “hold” rating to a “buy” rating in a report on Saturday, October 27th. Zacks Investment Research reaffirmed a “sell” rating on shares of Standard Motor Products in a report on Thursday, November 15th.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 15th will be paid a $0.23 dividend. The ex-dividend date is Thursday, February 14th. This is an increase from Standard Motor Products’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.83%. Standard Motor Products’s dividend payout ratio (DPR) is 29.68%.
Institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE increased its position in Standard Motor Products by 88.9% during the second quarter. Bank of America Corp DE now owns 18,674 shares of the auto parts company’s stock worth $903,000 after purchasing an additional 8,788 shares during the last quarter. California Public Employees Retirement System increased its position in Standard Motor Products by 6.3% during the second quarter. California Public Employees Retirement System now owns 35,879 shares of the auto parts company’s stock worth $1,734,000 after purchasing an additional 2,119 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Standard Motor Products by 2.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 330,741 shares of the auto parts company’s stock worth $15,987,000 after buying an additional 9,276 shares during the last quarter. Tributary Capital Management LLC increased its holdings in shares of Standard Motor Products by 0.6% during the 3rd quarter. Tributary Capital Management LLC now owns 224,619 shares of the auto parts company’s stock worth $11,056,000 after buying an additional 1,236 shares during the last quarter. Finally, Reinhart Partners Inc. increased its holdings in shares of Standard Motor Products by 8.4% during the 3rd quarter. Reinhart Partners Inc. now owns 32,880 shares of the auto parts company’s stock worth $1,618,000 after buying an additional 2,540 shares during the last quarter. 83.00% of the stock is owned by institutional investors and hedge funds.
Standard Motor Products Company Profile
Standard Motor Products, Inc manufactures and distributes replacement parts for motor vehicles in the automotive aftermarket industry. Its Engine Management segment manufactures and distributes engine management replacement parts, including electronic ignition control modules, fuel injectors, remanufactured diesel injectors and pumps, ignition wires, coils, switches, relays, EGR valves, distributor caps and rotors, various sensors primarily measuring temperature, vehicle systems, electronic throttle bodies, and other engine management components primarily under the Standard, Blue Streak, BWD, Select, Intermotor, OEM, LockSmart, TechSmart, Tech Expert, and GP Sorensen brands.
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