Standard Motor Products, Inc. (NYSE:SMP) Short Interest Update

Standard Motor Products, Inc. (NYSE:SMP) was the target of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 663,700 shares, an increase of 64.1% from the October 31st total of 404,400 shares. Approximately 3.2% of the company’s stock are short sold. Based on an average daily volume of 171,300 shares, the short-interest ratio is presently 3.9 days.

Insider Activity at Standard Motor Products

In other Standard Motor Products news, insider Carmine Joseph Broccole sold 913 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $34.96, for a total transaction of $31,918.48. Following the completion of the transaction, the insider now owns 81,241 shares of the company’s stock, valued at $2,840,185.36. The trade was a 1.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Dale Burks sold 1,722 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $34.96, for a total transaction of $60,201.12. Following the transaction, the executive vice president now directly owns 67,865 shares of the company’s stock, valued at approximately $2,372,560.40. This represents a 2.47 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,454 shares of company stock valued at $225,701. Insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. acquired a new position in Standard Motor Products in the first quarter valued at about $205,000. Vanguard Group Inc. lifted its holdings in Standard Motor Products by 3.6% in the first quarter. Vanguard Group Inc. now owns 1,442,712 shares of the auto parts company’s stock valued at $48,403,000 after buying an additional 49,905 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Standard Motor Products by 3.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 18,396 shares of the auto parts company’s stock valued at $618,000 after buying an additional 634 shares during the period. Gladius Capital Management LP acquired a new position in Standard Motor Products in the second quarter valued at approximately $30,000. Finally, Bank of New York Mellon Corp lifted its holdings in Standard Motor Products by 1.6% in the second quarter. Bank of New York Mellon Corp now owns 271,823 shares of the auto parts company’s stock valued at $7,538,000 after buying an additional 4,391 shares during the period. Institutional investors own 81.26% of the company’s stock.

Standard Motor Products Stock Performance

Standard Motor Products stock traded up $0.10 on Friday, reaching $32.88. 53,613 shares of the stock were exchanged, compared to its average volume of 133,326. The stock has a market cap of $714.15 million, a PE ratio of 20.30 and a beta of 0.51. The company has a current ratio of 2.25, a quick ratio of 0.82 and a debt-to-equity ratio of 0.21. Standard Motor Products has a twelve month low of $26.09 and a twelve month high of $41.71. The firm has a fifty day moving average price of $32.15 and a two-hundred day moving average price of $31.05.

Standard Motor Products (NYSE:SMP) last posted its quarterly earnings data on Wednesday, October 30th. The auto parts company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.19. Standard Motor Products had a net margin of 2.56% and a return on equity of 10.42%. The company had revenue of $399.27 million for the quarter, compared to the consensus estimate of $396.10 million. During the same quarter in the previous year, the firm posted $1.11 EPS. The business’s revenue was up 3.3% compared to the same quarter last year. Sell-side analysts anticipate that Standard Motor Products will post 3.05 EPS for the current year.

Standard Motor Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be issued a dividend of $0.29 per share. The ex-dividend date is Friday, November 15th. This represents a $1.16 annualized dividend and a dividend yield of 3.53%. Standard Motor Products’s payout ratio is 71.61%.

Standard Motor Products Company Profile

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.