Standard Motor Products, Inc. (NYSE:SMP) Short Interest Up 64.1% in November

Standard Motor Products, Inc. (NYSE:SMP) was the recipient of a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 663,700 shares, an increase of 64.1% from the October 31st total of 404,400 shares. Approximately 3.2% of the shares of the company are short sold. Based on an average daily volume of 171,300 shares, the short-interest ratio is currently 3.9 days.

Insider Buying and Selling at Standard Motor Products

In other Standard Motor Products news, insider Carmine Joseph Broccole sold 913 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $34.96, for a total value of $31,918.48. Following the completion of the transaction, the insider now owns 81,241 shares of the company’s stock, valued at $2,840,185.36. This represents a 1.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Dale Burks sold 1,722 shares of Standard Motor Products stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $34.96, for a total value of $60,201.12. Following the sale, the executive vice president now directly owns 67,865 shares in the company, valued at $2,372,560.40. The trade was a 2.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,454 shares of company stock valued at $225,701 in the last ninety days. Company insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Innealta Capital LLC acquired a new stake in shares of Standard Motor Products during the 2nd quarter worth about $25,000. Gladius Capital Management LP acquired a new stake in shares of Standard Motor Products during the second quarter worth approximately $30,000. GAMMA Investing LLC raised its stake in shares of Standard Motor Products by 153.8% in the third quarter. GAMMA Investing LLC now owns 906 shares of the auto parts company’s stock valued at $30,000 after acquiring an additional 549 shares during the last quarter. FMR LLC boosted its holdings in shares of Standard Motor Products by 64.6% in the 3rd quarter. FMR LLC now owns 1,745 shares of the auto parts company’s stock worth $58,000 after acquiring an additional 685 shares in the last quarter. Finally, Farther Finance Advisors LLC bought a new stake in Standard Motor Products during the 3rd quarter worth approximately $73,000. 81.26% of the stock is owned by institutional investors.

Standard Motor Products Trading Up 0.3 %

Shares of SMP stock opened at $32.88 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.82 and a current ratio of 2.25. The firm has a fifty day moving average of $32.15 and a 200-day moving average of $31.05. Standard Motor Products has a 52-week low of $26.09 and a 52-week high of $41.71. The stock has a market cap of $714.22 million, a price-to-earnings ratio of 20.30 and a beta of 0.51.

Standard Motor Products (NYSE:SMP) last announced its quarterly earnings results on Wednesday, October 30th. The auto parts company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.19. Standard Motor Products had a net margin of 2.56% and a return on equity of 10.42%. The firm had revenue of $399.27 million during the quarter, compared to analysts’ expectations of $396.10 million. During the same quarter last year, the company earned $1.11 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities research analysts forecast that Standard Motor Products will post 3.05 earnings per share for the current fiscal year.

Standard Motor Products Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.16 annualized dividend and a yield of 3.53%. Standard Motor Products’s dividend payout ratio is currently 71.60%.

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.