Standard Motor Products, Inc. (NYSE:SMP) Declares Quarterly Dividend of $0.33

Key Points

• Quarterly dividend: Standard Motor Products declared a $0.33 per-share quarterly dividend (annualized $1.32) with an ex‑dividend/record date of May 15 and payable June 1, implying a ~3.5% yield.
• Q1 results beat: the company reported $0.82 EPS versus $0.77 expected and $451.17M revenue versus $429.07M, and a 31.4% payout ratio plus analyst forecasts of $4.94 EPS next year indicate the dividend is well covered.
• Analyst outlook and valuation: shares traded at $37.54 (up 1.7%), market cap about $835.5M and a PE of ~20.3, with a consensus "Buy" rating and a $49.00 target price.

Standard Motor Products, Inc. (NYSE:SMP - Get Free Report) announced a quarterly dividend on Thursday, April 30th. Stockholders of record on Friday, May 15th will be paid a dividend of 0.33 per share by the auto parts company on Monday, June 1st. This represents a c) annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, May 15th.

Standard Motor Products has raised its dividend by an average of 0.2%annually over the last three years and has raised its dividend every year for the last 1 years. Standard Motor Products has a payout ratio of 31.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Standard Motor Products to earn $4.94 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 26.7%.

Standard Motor Products Stock Up 1.7%

Shares of NYSE:SMP traded up $0.64 during trading on Thursday, hitting $37.54. The company's stock had a trading volume of 119,653 shares, compared to its average volume of 129,311. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.69 and a current ratio of 2.13. Standard Motor Products has a fifty-two week low of $26.61 and a fifty-two week high of $46.00. The stock's 50-day moving average price is $37.60 and its two-hundred day moving average price is $38.61. The company has a market capitalization of $835.53 million, a PE ratio of 20.29 and a beta of 0.80.

Standard Motor Products (NYSE:SMP - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The auto parts company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.77 by $0.05. Standard Motor Products had a return on equity of 13.15% and a net margin of 2.31%.The business had revenue of $451.17 million for the quarter, compared to analysts' expectations of $429.07 million. As a group, sell-side analysts expect that Standard Motor Products will post 4.4 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Zacks Research upgraded Standard Motor Products from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 13th. Wall Street Zen cut Standard Motor Products from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 7th. Finally, Weiss Ratings cut Standard Motor Products from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, April 10th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $49.00.

Standard Motor Products Company Profile

Standard Motor Products, Inc, headquartered in Long Island City, New York, is a leading manufacturer and distributor of aftermarket and original equipment automotive parts. Since its founding in 1919, the company has focused on engineering, testing, and supplying ignition and temperature management products for passenger cars and light trucks. Its product lineup includes ignition coils, spark plug wires, sensors, switches, heating and air conditioning controls, and related electronic components.

The company operates through two primary segments: Engine Management and Temperature Control.

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