Standard Motor Products (NYSE:SMP) Reaches New 1-Year Low at $30.06

Standard Motor Products, Inc. (NYSE:SMP)’s stock price reached a new 52-week low on Thursday . The stock traded as low as $30.06 and last traded at $30.08, with a volume of 53302 shares changing hands. The stock had previously closed at $30.89.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on SMP shares. Roth Mkm reiterated a “buy” rating and issued a $42.00 price target on shares of Standard Motor Products in a research note on Thursday. TheStreet downgraded Standard Motor Products from a “b” rating to a “c+” rating in a report on Thursday, February 22nd. Finally, StockNews.com upgraded Standard Motor Products from a “hold” rating to a “buy” rating in a research report on Friday, March 29th.

Standard Motor Products Stock Up 0.9 %

The firm has a fifty day simple moving average of $32.46 and a 200 day simple moving average of $35.68. The company has a market cap of $662.24 million, a PE ratio of 21.83 and a beta of 0.61. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.92 and a current ratio of 2.66.

Standard Motor Products (NYSE:SMP) last posted its quarterly earnings results on Wednesday, May 1st. The auto parts company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.05. Standard Motor Products had a return on equity of 9.48% and a net margin of 2.28%. The firm had revenue of $331.40 million for the quarter, compared to analyst estimates of $321.84 million. During the same period in the previous year, the firm earned $0.61 earnings per share. Standard Motor Products’s quarterly revenue was up 1.0% on a year-over-year basis. Equities research analysts predict that Standard Motor Products, Inc. will post 2.99 EPS for the current year.

Standard Motor Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th will be paid a $0.29 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $1.16 dividend on an annualized basis and a yield of 3.82%. Standard Motor Products’s payout ratio is 83.45%.

Hedge Funds Weigh In On Standard Motor Products

Hedge funds have recently added to or reduced their stakes in the stock. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in Standard Motor Products by 5.0% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,499 shares of the auto parts company’s stock worth $259,000 after purchasing an additional 307 shares in the last quarter. Illinois Municipal Retirement Fund increased its holdings in shares of Standard Motor Products by 3.1% in the first quarter. Illinois Municipal Retirement Fund now owns 10,807 shares of the auto parts company’s stock worth $363,000 after purchasing an additional 328 shares during the period. Amalgamated Bank increased its holdings in shares of Standard Motor Products by 5.6% in the third quarter. Amalgamated Bank now owns 7,947 shares of the auto parts company’s stock worth $267,000 after purchasing an additional 421 shares during the period. SG Americas Securities LLC increased its holdings in shares of Standard Motor Products by 3.4% in the fourth quarter. SG Americas Securities LLC now owns 12,758 shares of the auto parts company’s stock worth $508,000 after purchasing an additional 423 shares during the period. Finally, Cornercap Investment Counsel Inc. increased its stake in Standard Motor Products by 2.1% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 26,313 shares of the auto parts company’s stock valued at $1,048,000 after acquiring an additional 535 shares during the last quarter. Institutional investors own 81.26% of the company’s stock.

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.