Standard Motor Products, Inc. (NYSE:SMP) Plans Quarterly Dividend of $0.29

Standard Motor Products, Inc. (NYSE:SMPGet Free Report) announced a quarterly dividend on Monday, February 5th, Zacks reports. Investors 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 2.84%. The ex-dividend date is Wednesday, February 14th.

Standard Motor Products has raised its dividend 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 Stock Up 0.7 %

Shares of SMP stock opened at $40.82 on Monday. The company has a current ratio of 2.04, a quick ratio of 0.76 and a debt-to-equity ratio of 0.15. Standard Motor Products has a 1 year low of $30.15 and a 1 year high of $41.97. The firm’s fifty day moving average price is $39.60 and its two-hundred day moving average price is $36.69. The firm has a market capitalization of $887.02 million, a P/E ratio of 25.35 and a beta of 0.66.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SMP. Envestnet Asset Management Inc. grew its position in shares of Standard Motor Products by 17.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 7,983 shares of the auto parts company’s stock valued at $344,000 after acquiring an additional 1,185 shares during the period. Raymond James & Associates boosted its holdings in shares of Standard Motor Products by 12.4% during the 1st quarter. Raymond James & Associates now owns 50,840 shares of the auto parts company’s stock worth $2,193,000 after buying an additional 5,610 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Standard Motor Products by 2.0% during the 1st quarter. Bank of New York Mellon Corp now owns 261,309 shares of the auto parts company’s stock worth $11,273,000 after buying an additional 5,202 shares during the period. Citigroup Inc. boosted its holdings in shares of Standard Motor Products by 3.5% during the 1st quarter. Citigroup Inc. now owns 17,420 shares of the auto parts company’s stock worth $751,000 after buying an additional 586 shares during the period. Finally, MetLife Investment Management LLC boosted its holdings in shares of Standard Motor Products by 56.5% during the 1st quarter. MetLife Investment Management LLC now owns 10,831 shares of the auto parts company’s stock worth $467,000 after buying an additional 3,910 shares during the period. Institutional investors own 77.05% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Get Our Latest Research Report 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.

Further Reading

Dividend History for Standard Motor Products (NYSE:SMP)

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