Standard Motor Products (NYSE:SMP) Stock: Insider Dale Burks Sells 2,020 Shares

Key Points

• EVP Dale Burks sold 2,020 shares at an average price of $44.14, totaling about $89,163; the sale covered tax withholding on vested equity awards. He retained 47,044 shares after the transaction.
• Standard Motor Products reported quarterly EPS of $1.54, beating the $1.41 analyst consensus, while revenue of $512.9 million fell slightly short of expectations.
• The company declared a quarterly dividend of $0.33 per share, equivalent to a 3.0% annualized yield. Analysts’ average rating was “Moderate Buy,” with a $54 price target.

Standard Motor Products, Inc. (NYSE:SMP - Get Free Report) EVP Dale Burks sold 2,020 shares of Standard Motor Products stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $44.14, for a total value of $89,162.80. Following the completion of the transaction, the executive vice president directly owned 47,044 shares in the company, valued at $2,076,522.16. This trade represents a 4.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Dale Burks also recently made the following trade(s):

• On Wednesday, August 19th, Dale Burks sold 5,798 shares of Standard Motor Products stock. The shares were sold at an average price of $39.00, for a total value of $226,122.00.
• On Tuesday, August 18th, Dale Burks sold 3,500 shares of Standard Motor Products stock. The stock was sold at an average price of $38.76, for a total transaction of $135,660.00.
• On Friday, August 14th, Dale Burks sold 9,051 shares of Standard Motor Products stock. The stock was sold at an average price of $38.71, for a total transaction of $350,364.21.

Standard Motor Products Trading Down 0.4%

NYSE:SMP traded down $0.20 during midday trading on Thursday, reaching $44.11. 22,210 shares of the stock traded hands, compared to its average volume of 141,353. The company has a fifty day moving average of $38.93 and a 200 day moving average of $38.82. Standard Motor Products, Inc. has a 12 month low of $34.27 and a 12 month high of $47.27. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.73 and a current ratio of 1.81. The stock has a market capitalization of $985.51 million, a P/E ratio of 14.46 and a beta of 0.80.

Standard Motor Products (NYSE:SMP - Get Free Report) last announced its quarterly earnings results on Friday, October 30th. The auto parts company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.13. The business had revenue of $512.90 million during the quarter, compared to analysts' expectations of $514.99 million. Standard Motor Products had a net margin of 3.77% and a return on equity of 13.65%. On average, research analysts predict that Standard Motor Products, Inc. will post 4.30 EPS for the current year.

Standard Motor Products Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Monday, November 16th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Monday, November 16th. Standard Motor Products's dividend payout ratio is 43.28%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC raised its holdings in Standard Motor Products by 76.7% in the 1st quarter. Parallel Advisors LLC now owns 949 shares of the auto parts company's stock worth $33,000 after purchasing an additional 412 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Standard Motor Products by 24.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,195 shares of the auto parts company's stock valued at $81,000 after purchasing an additional 433 shares in the last quarter. Illinois Municipal Retirement Fund boosted its stake in shares of Standard Motor Products by 4.2% during the 1st quarter. Illinois Municipal Retirement Fund now owns 11,679 shares of the auto parts company's stock valued at $406,000 after purchasing an additional 466 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Standard Motor Products by 10.7% during the 3rd quarter. Fifth Third Bancorp now owns 5,182 shares of the auto parts company's stock valued at $192,000 after purchasing an additional 501 shares in the last quarter. Finally, Versant Capital Management Inc increased its position in shares of Standard Motor Products by 89.1% during the third quarter. Versant Capital Management Inc now owns 1,159 shares of the auto parts company's stock valued at $43,000 after buying an additional 546 shares during the period. 81.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Wall Street Zen raised Standard Motor Products from a "hold" rating to a "buy" rating in a research note on Sunday, August 16th. Roth Capital reaffirmed a "buy" rating and set a $54.00 price target on shares of Standard Motor Products in a research report on Monday, November 2nd. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Standard Motor Products in a report on Monday, October 26th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Standard Motor Products presently has an average rating of "Moderate Buy" and an average price target of $54.00.

Standard Motor Products Company Profile

Standard Motor Products, Inc. NYSE: SMP designs, manufactures and distributes replacement parts for the automotive aftermarket, along with components for original equipment manufacturers. Founded in 1919, the company has a long history in the vehicle-parts industry. Its products include ignition, fuel, emissions, engine-management and temperature-control parts, as well as switches, sensors and related electrical components. The company sells products under brands including Standard and Blue Streak.

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