Standard Motor Products (NYSE:SMP) Shares Gap Down to $35.23

Standard Motor Products, Inc. (NYSE:SMP)’s share price gapped down prior to trading on Friday . The stock had previously closed at $35.23, but opened at $34.28. Standard Motor Products shares last traded at $34.95, with a volume of 83,078 shares traded.

Analyst Ratings Changes

Several analysts have weighed in on the stock. TheStreet downgraded shares of Standard Motor Products from a “b-” rating to a “c+” rating in a research note on Monday, October 16th. StockNews.com raised shares of Standard Motor Products from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 30th.

Standard Motor Products Trading Down 0.0 %

The stock has a market capitalization of $765.30 million, a P/E ratio of 21.88 and a beta of 0.64. The firm’s 50 day moving average price is $33.87 and its 200 day moving average price is $35.90. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.04 and a quick ratio of 0.76.

Standard Motor Products (NYSE:SMP) last issued its quarterly earnings data on Friday, October 27th. The auto parts company reported $1.11 EPS for the quarter, beating the consensus estimate of $0.99 by $0.12. The firm had revenue of $386.40 million during the quarter, compared to the consensus estimate of $391.87 million. Standard Motor Products had a net margin of 2.59% and a return on equity of 11.30%. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.05 earnings per share. As a group, equities research analysts expect that Standard Motor Products, Inc. will post 3.17 earnings per share for the current fiscal year.

Standard Motor Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend is Tuesday, November 14th. Standard Motor Products’s dividend payout ratio is currently 72.05%.

Hedge Funds Weigh In On Standard Motor Products

Several hedge funds and other institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. grew its holdings in Standard Motor Products by 85.8% in the second quarter. PNC Financial Services Group Inc. now owns 691 shares of the auto parts company’s stock worth $26,000 after purchasing an additional 319 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Standard Motor Products by 145.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 938 shares of the auto parts company’s stock worth $32,000 after purchasing an additional 556 shares during the period. FMR LLC grew its holdings in Standard Motor Products by 131.5% in the first quarter. FMR LLC now owns 1,366 shares of the auto parts company’s stock worth $50,000 after purchasing an additional 776 shares during the period. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Standard Motor Products in the third quarter worth about $85,000. Finally, Captrust Financial Advisors grew its holdings in Standard Motor Products by 47.4% in the first quarter. Captrust Financial Advisors now owns 2,217 shares of the auto parts company’s stock worth $96,000 after purchasing an additional 713 shares during the period. Hedge funds and other institutional investors own 77.05% of the company’s stock.

About Standard Motor Products

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.