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

Standard Motor Products, Inc. (NYSE:SMP - Get Free Report) announced a quarterly dividend on Wednesday, April 30th, RTT News reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.77%. This is a 6.9% increase from Standard Motor Products's previous quarterly dividend of $0.29.

Standard Motor Products has increased its dividend payment by an average of 5.1% annually over the last three years. Standard Motor Products has a dividend payout ratio of 29.7% 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 Price Performance

SMP stock traded up $1.64 during trading on Wednesday, hitting $26.00. The company had a trading volume of 29,377 shares, compared to its average volume of 164,419. The company has a fifty day moving average price of $25.54 and a two-hundred day moving average price of $29.61. The company has a current ratio of 2.25, a quick ratio of 0.82 and a debt-to-equity ratio of 0.21. The company has a market cap of $591.18 million, a P/E ratio of 16.05 and a beta of 0.57. Standard Motor Products has a fifty-two week low of $21.38 and a fifty-two week high of $35.92.

Standard Motor Products (NYSE:SMP - Get Free Report) last announced its earnings results on Wednesday, April 30th. The auto parts company reported $0.81 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $0.37. Standard Motor Products had a return on equity of 10.42% and a net margin of 2.56%. During the same period last year, the firm earned $0.45 earnings per share. The business's quarterly revenue was up 24.7% on a year-over-year basis. Equities research analysts expect that Standard Motor Products will post 3.08 earnings per share for the current fiscal year.

Insider Transactions at Standard Motor Products

In other news, EVP Dale Burks sold 11,005 shares of Standard Motor Products stock in a transaction dated 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 transaction, the executive vice president now directly owns 56,860 shares of the company's stock, valued at approximately $1,546,592. This trade represents a 16.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 5.00% of the company's stock.

Wall Street Analyst Weigh In

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

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.

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