Standard Motor Products, Inc. (NYSE:SMP) Raises Dividend to $0.31 Per Share

Standard Motor Products, Inc. (NYSE:SMP - Get Free Report) declared a quarterly dividend on Wednesday, April 30th, RTT News reports. Shareholders of record on Thursday, May 15th will be given a dividend of 0.31 per share by the auto parts company on Monday, June 2nd. This represents a $1.24 annualized dividend and a yield of 4.38%. The ex-dividend date is Thursday, May 15th. This is a 6.9% increase from Standard Motor Products's previous quarterly dividend of $0.29.

Standard Motor Products has raised its dividend by an average of 5.1% per year over the last three years. Standard Motor Products has a payout ratio of 29.7% meaning its dividend is sufficiently covered by earnings. Equities 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 $0.43 on Monday, reaching $28.30. 63,122 shares of the company's stock were exchanged, compared to its average volume of 166,800. Standard Motor Products has a twelve month low of $21.38 and a twelve month high of $35.92. The company has a quick ratio of 0.82, a current ratio of 2.25 and a debt-to-equity ratio of 0.21. The stock has a fifty day moving average of $25.34 and a 200-day moving average of $29.51. The firm has a market cap of $643.48 million, a PE ratio of 17.47 and a beta of 0.57.

Standard Motor Products (NYSE:SMP - Get Free Report) last issued its earnings results on Wednesday, April 30th. The auto parts company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.37. The company had revenue of $413.38 million for the quarter, compared to analyst estimates of $394.38 million. Standard Motor Products had a net margin of 2.56% and a return on equity of 10.42%. The firm's revenue for the quarter was up 24.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.45 earnings per share. As a group, equities analysts predict that Standard Motor Products will post 3.08 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com downgraded Standard Motor Products from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 3rd.

Insiders Place Their Bets

In other news, EVP Dale Burks sold 11,005 shares of Standard Motor Products stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $27.20, for a total value of $299,336.00. Following the completion of the sale, the executive vice president now owns 56,860 shares of the company's stock, valued at $1,546,592. The trade was a 16.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.00% of the stock is owned by corporate insiders.

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.