Frederick D. Sturdivant Sells 4,000 Shares of Standard Motor Products, Inc. (SMP) Stock

Standard Motor Products, Inc. (NYSE:SMP) Director Frederick D. Sturdivant sold 4,000 shares of the firm’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $50.00, for a total transaction of $200,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

NYSE:SMP opened at $50.46 on Thursday. Standard Motor Products, Inc. has a 1 year low of $40.56 and a 1 year high of $51.80. The firm has a market capitalization of $1.09 billion, a P/E ratio of 17.83, a PEG ratio of 2.33 and a beta of 1.70.

Standard Motor Products (NYSE:SMP) last posted its earnings results on Thursday, July 26th. The auto parts company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.05). Standard Motor Products had a net margin of 2.66% and a return on equity of 12.38%. The firm had revenue of $286.64 million during the quarter. During the same quarter in the previous year, the firm earned $0.81 EPS. The company’s revenue was down 8.3% compared to the same quarter last year. equities analysts anticipate that Standard Motor Products, Inc. will post 2.61 earnings per share for the current fiscal year.

Standard Motor Products announced that its Board of Directors has authorized a share repurchase plan on Friday, May 18th that authorizes the company to repurchase $20.00 million in shares. This repurchase authorization authorizes the auto parts company to purchase up to 2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 4th. Shareholders of record on Wednesday, August 15th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date is Tuesday, August 14th. Standard Motor Products’s dividend payout ratio (DPR) is presently 29.68%.

A number of institutional investors have recently modified their holdings of the business. US Bancorp DE boosted its holdings in Standard Motor Products by 121.9% in the 2nd quarter. US Bancorp DE now owns 2,135 shares of the auto parts company’s stock valued at $104,000 after purchasing an additional 1,173 shares during the period. Coldstream Capital Management Inc. boosted its holdings in Standard Motor Products by 8.7% in the 1st quarter. Coldstream Capital Management Inc. now owns 15,263 shares of the auto parts company’s stock valued at $726,000 after purchasing an additional 1,226 shares during the period. Citadel Advisors LLC boosted its holdings in Standard Motor Products by 3.3% in the 1st quarter. Citadel Advisors LLC now owns 46,882 shares of the auto parts company’s stock valued at $2,230,000 after purchasing an additional 1,493 shares during the period. Rhumbline Advisers boosted its holdings in Standard Motor Products by 2.8% in the 2nd quarter. Rhumbline Advisers now owns 64,097 shares of the auto parts company’s stock valued at $3,098,000 after purchasing an additional 1,717 shares during the period. Finally, Legal & General Group Plc boosted its holdings in Standard Motor Products by 4.7% in the 2nd quarter. Legal & General Group Plc now owns 39,968 shares of the auto parts company’s stock valued at $1,958,000 after purchasing an additional 1,810 shares during the period. 82.88% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts recently issued reports on SMP shares. Zacks Investment Research lowered shares of Standard Motor Products from a “buy” rating to a “hold” rating in a research note on Thursday, April 19th. ValuEngine lowered shares of Standard Motor Products from a “buy” rating to a “hold” rating in a research note on Thursday, April 19th. Finally, CL King lowered shares of Standard Motor Products from a “buy” rating to a “neutral” rating in a research note on Monday, July 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $55.00.

About Standard Motor Products

Standard Motor Products, Inc manufactures and distributes replacement parts for motor vehicles in the automotive aftermarket industry. Its Engine Management segment manufactures and distributes engine management replacement parts, including electronic ignition control modules, fuel injectors, remanufactured diesel injectors and pumps, ignition wires, coils, switches, relays, EGR valves, distributor caps and rotors, various sensors primarily measuring temperature, vehicle systems, electronic throttle bodies, and other engine management components primarily under the Standard, Blue Streak, BWD, Select, Intermotor, OEM, LockSmart, TechSmart, Tech Expert, and GP Sorensen brands.

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