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

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. Shareholders of record on Friday, August 15th will be paid a dividend of 0.31 per share by the auto parts company on Tuesday, September 2nd. This represents a c) annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Friday, August 15th.

Standard Motor Products has a payout ratio of 29.5% meaning its dividend is sufficiently covered by earnings. Research 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 Price Performance

SMP stock traded up $0.90 during mid-day trading on Friday, hitting $37.40. 515,744 shares of the stock were exchanged, compared to its average volume of 193,176. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.16 and a quick ratio of 0.86. The business has a fifty day moving average price of $31.86 and a 200 day moving average price of $29.12. Standard Motor Products has a 12 month low of $21.38 and a 12 month high of $37.75. The stock has a market capitalization of $822.43 million, a price-to-earnings ratio of 21.25 and a beta of 0.63.

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

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.