Standard Motor Products (NYSE:SMP) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Standard Motor Products (NYSE:SMP) from a strong-buy rating to a hold rating in a report released on Monday morning.

Standard Motor Products Stock Down 1.9 %

Shares of NYSE SMP opened at $28.00 on Monday. The stock has a market cap of $608.22 million, a PE ratio of 17.28 and a beta of 0.52. Standard Motor Products has a 52-week low of $26.09 and a 52-week high of $35.92. The business has a 50-day moving average price of $30.86 and a 200 day moving average price of $31.79. The company has a quick ratio of 0.82, a current ratio of 2.25 and a debt-to-equity ratio of 0.21.

Standard Motor Products (NYSE:SMP) last announced its earnings results on Thursday, February 27th. The auto parts company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.10. Standard Motor Products had a net margin of 2.56% and a return on equity of 10.42%. The business had revenue of $343.35 million during the quarter, compared to the consensus estimate of $292.50 million. Equities research analysts forecast that Standard Motor Products will post 3.08 earnings per share for the current year.

Standard Motor Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 4.14%. The ex-dividend date was Friday, February 14th. Standard Motor Products’s payout ratio is 100.81%.

Insider Buying and Selling

In related news, VP Ray Nicholas sold 4,730 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $34.11, for a total value of $161,340.30. Following the completion of the transaction, the vice president now directly owns 46,385 shares of the company’s stock, valued at $1,582,192.35. This trade represents a 9.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Standard Motor Products

Several institutional investors and hedge funds have recently made changes to their positions in the business. Inspire Investing LLC increased its position in Standard Motor Products by 3.1% during the fourth quarter. Inspire Investing LLC now owns 12,896 shares of the auto parts company’s stock worth $400,000 after buying an additional 383 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Standard Motor Products by 5.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 9,421 shares of the auto parts company’s stock worth $292,000 after purchasing an additional 446 shares during the period. Farther Finance Advisors LLC lifted its position in Standard Motor Products by 20.6% during the fourth quarter. Farther Finance Advisors LLC now owns 2,651 shares of the auto parts company’s stock valued at $82,000 after buying an additional 453 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Standard Motor Products by 4.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,900 shares of the auto parts company’s stock valued at $369,000 after acquiring an additional 469 shares in the last quarter. Finally, Barclays PLC lifted its stake in shares of Standard Motor Products by 1.2% during the fourth quarter. Barclays PLC now owns 49,118 shares of the auto parts company’s stock worth $1,521,000 after purchasing an additional 596 shares in the last quarter. 81.26% of the stock is currently owned by hedge funds and other institutional investors.

About Standard Motor Products

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.