Standard Motor Products, Inc. (NYSE:SMP) to Issue $0.29 Quarterly Dividend

Standard Motor Products, Inc. (NYSE:SMPGet Free Report) announced a quarterly dividend on Monday, February 5th, Zacks reports. Stockholders of record on Thursday, February 15th will be paid a dividend of 0.29 per share by the auto parts company on Friday, March 1st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date is Wednesday, February 14th.

Standard Motor Products has increased its dividend payment by an average of 32.4% annually over the last three years and has raised its dividend annually for the last 2 consecutive years.

Standard Motor Products Trading Up 1.3 %

Shares of SMP opened at $40.58 on Wednesday. Standard Motor Products has a 1-year low of $30.15 and a 1-year high of $41.97. The firm has a market capitalization of $881.80 million, a price-to-earnings ratio of 25.20 and a beta of 0.66. The firm’s 50-day moving average price is $39.33 and its 200-day moving average price is $36.64. The company has a current ratio of 2.04, a quick ratio of 0.76 and a debt-to-equity ratio of 0.15.

Insider Activity

In related news, VP Ray Nicholas sold 1,242 shares of the company’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $34.87, for a total transaction of $43,308.54. Following the completion of the transaction, the vice president now owns 47,203 shares in the company, valued at $1,645,968.61. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, VP Ray Nicholas sold 1,242 shares of the stock in a transaction on Friday, November 10th. The shares were sold at an average price of $34.87, for a total value of $43,308.54. Following the sale, the vice president now owns 47,203 shares of the company’s stock, valued at $1,645,968.61. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Carmine Joseph Broccole sold 1,255 shares of the stock in a transaction on Friday, November 10th. The shares were sold at an average price of $34.29, for a total transaction of $43,033.95. Following the completion of the sale, the insider now directly owns 76,661 shares in the company, valued at approximately $2,628,705.69. The disclosure for this sale can be found here. Insiders sold 8,652 shares of company stock valued at $300,720 over the last three months. Insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. grew its holdings in Standard Motor Products by 1,423.8% during the 1st quarter. Rockefeller Capital Management L.P. now owns 290,749 shares of the auto parts company’s stock worth $10,731,000 after acquiring an additional 271,669 shares in the last quarter. First Trust Advisors LP grew its holdings in Standard Motor Products by 627.3% during the 1st quarter. First Trust Advisors LP now owns 228,804 shares of the auto parts company’s stock worth $9,871,000 after acquiring an additional 197,346 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Standard Motor Products by 42.6% during the 1st quarter. Ameriprise Financial Inc. now owns 352,600 shares of the auto parts company’s stock worth $13,014,000 after acquiring an additional 105,302 shares in the last quarter. Citadel Advisors LLC grew its holdings in Standard Motor Products by 208.6% during the 2nd quarter. Citadel Advisors LLC now owns 115,172 shares of the auto parts company’s stock worth $5,181,000 after acquiring an additional 77,847 shares in the last quarter. Finally, Norges Bank bought a new position in Standard Motor Products during the 4th quarter worth about $2,189,000. 77.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SMP shares. TheStreet raised shares of Standard Motor Products from a “c+” rating to a “b-” rating in a report on Wednesday, December 20th. StockNews.com raised shares of Standard Motor Products from a “buy” rating to a “strong-buy” rating in a report on Monday, October 30th.

Get Our Latest Stock Analysis on SMP

Standard Motor Products Company Profile

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Standard Motor Products, Inc manufactures and distributes automotive parts that are used in the maintenance, repair, and service of vehicles in the automotive aftermarket industry in the United States and internationally. The company's Engine Management segment provides electronic ignition control modules, camshaft and crankshaft position sensors, ignition wires and coils, switches and relays, exhaust gas recirculation valves, pressure and temperature sensors, variable valve timing components, mass airflow and fuel pressure sensors, electronic throttle bodies, and diesel injectors and pumps; and anti-lock brake, vehicle speed, tire pressure monitoring, and park assist sensors.

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Dividend History for Standard Motor Products (NYSE:SMP)

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