Standard Motor Products (NYSE:SMP) Sets New 52-Week Low at $27.01

Standard Motor Products, Inc. (NYSE:SMP) shares hit a new 52-week low on Monday . The company traded as low as $27.01 and last traded at $27.01, with a volume of 28564 shares changing hands. The stock had previously closed at $27.73.

Wall Street Analysts Forecast Growth

SMP has been the topic of several research reports. Roth Mkm reiterated a “buy” rating and issued a $42.00 price objective on shares of Standard Motor Products in a report on Thursday, May 23rd. StockNews.com raised shares of Standard Motor Products from a “hold” rating to a “buy” rating in a research report on Friday, March 29th.

Standard Motor Products Stock Down 2.1 %

The company has a debt-to-equity ratio of 0.32, a current ratio of 2.66 and a quick ratio of 0.92. The company has a 50 day moving average price of $30.50 and a 200-day moving average price of $34.42. The stock has a market capitalization of $592.19 million, a PE ratio of 19.95 and a beta of 0.52.

Standard Motor Products (NYSE:SMP) last announced its quarterly earnings results on Wednesday, May 1st. The auto parts company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.05. The firm had revenue of $331.40 million for the quarter, compared to the consensus estimate of $321.84 million. Standard Motor Products had a return on equity of 9.48% and a net margin of 2.28%. The company’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.61 earnings per share. As a group, analysts forecast that Standard Motor Products, Inc. will post 2.99 earnings per share for the current fiscal year.

Standard Motor Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Wednesday, May 15th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 4.27%. The ex-dividend date was Tuesday, May 14th. Standard Motor Products’s dividend payout ratio is currently 83.45%.

Institutional Trading of Standard Motor Products

Institutional investors have recently made changes to their positions in the business. Rhumbline Advisers increased its position in shares of Standard Motor Products by 70.1% during the 3rd quarter. Rhumbline Advisers now owns 112,008 shares of the auto parts company’s stock valued at $3,766,000 after purchasing an additional 46,165 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Standard Motor Products by 73.4% during the 3rd quarter. Invesco Ltd. now owns 216,723 shares of the auto parts company’s stock worth $7,286,000 after purchasing an additional 91,730 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in Standard Motor Products by 175.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 19,390 shares of the auto parts company’s stock valued at $652,000 after buying an additional 12,350 shares during the last quarter. Trexquant Investment LP purchased a new stake in Standard Motor Products in the third quarter valued at about $1,037,000. Finally, Quadrature Capital Ltd acquired a new position in shares of Standard Motor Products in the third quarter valued at about $282,000. Hedge funds and other institutional investors own 81.26% of the company’s stock.

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.