Standard Motor Products, Inc. (NYSE:SMP) Announces Quarterly Dividend of $0.31

Key Points

• Standard Motor Products, Inc. declared a quarterly dividend of $0.31 per share, with the payout scheduled for September 2nd to shareholders of record on August 15th, reflecting an annual yield of 3.8%.
• The company reported earnings of $1.29 per share for the latest quarter, exceeding analyst expectations significantly, with a 26.7% year-over-year increase in revenue.
• Standard Motor Products shares rose by 4.6%, reaching $33.04 during midday trading, with a market capitalization of $726.25 million and a debt-to-equity ratio of 0.96.

Standard Motor Products, Inc. (NYSE:SMP - Get Free Report) announced a quarterly dividend on Tuesday, August 5th, RTT News reports. Stockholders of record on Friday, August 15th will be given a dividend of 0.31 per share by the auto parts company on Tuesday, September 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, August 15th.

Standard Motor Products has a dividend payout ratio of 29.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Standard Motor Products to earn $3.43 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 36.2%.

Standard Motor Products Stock Up 4.9%

SMP stock opened at $36.64 on Thursday. The company has a current ratio of 2.16, a quick ratio of 0.86 and a debt-to-equity ratio of 0.86. The firm has a 50 day simple moving average of $31.60 and a 200-day simple moving average of $29.05. The company has a market capitalization of $805.37 million, a P/E ratio of 20.82 and a beta of 0.63. Standard Motor Products has a twelve month low of $21.38 and a twelve month high of $36.79.

Standard Motor Products (NYSE:SMP - Get Free Report) last issued its earnings results on Tuesday, August 5th. The auto parts company reported $1.29 earnings per share for the quarter, topping analysts' consensus estimates of $0.97 by $0.32. The company had revenue of $493.85 million for the quarter, compared to analysts' expectations of $450.21 million. Standard Motor Products had a net margin of 2.39% and a return on equity of 12.98%. The firm's revenue was up 26.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.98 earnings per share. On average, equities research analysts predict that Standard Motor Products will post 3.08 earnings per share for the current fiscal year.

Institutional Trading of Standard Motor Products

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Standard Motor Products by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 1,655,886 shares of the auto parts company's stock valued at $51,299,000 after purchasing an additional 69,000 shares in the last quarter. JPMorgan Chase & Co. increased its position in Standard Motor Products by 37.1% in the 4th quarter. JPMorgan Chase & Co. now owns 59,086 shares of the auto parts company's stock valued at $1,830,000 after acquiring an additional 15,979 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Standard Motor Products by 474.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 52,407 shares of the auto parts company's stock worth $1,624,000 after purchasing an additional 43,287 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Standard Motor Products by 1.2% during the fourth quarter. Franklin Resources Inc. now owns 125,098 shares of the auto parts company's stock valued at $3,876,000 after purchasing an additional 1,543 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Standard Motor Products by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 494,489 shares of the auto parts company's stock valued at $15,323,000 after purchasing an additional 9,190 shares in the last quarter. 81.26% of the stock is currently owned by institutional investors and hedge funds.

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.