Standard Motor Products (NYSE:SMP) Hits New 52-Week High - Here's What Happened

Key Points

• Standard Motor Products shares reached a new 52-week high at $38.19, closing at $37.17 with notable trading volume.
• The company reported a 26.7% increase in revenue year-over-year, with earnings of $1.29 per share, surpassing analyst estimates.
• A quarterly dividend of $0.31 per share has been announced, resulting in a dividend yield of 3.3% and a payout ratio of 70.45%.

Shares of Standard Motor Products, Inc. (NYSE:SMP - Get Free Report) hit a new 52-week high on Tuesday . The company traded as high as $38.19 and last traded at $37.17, with a volume of 253634 shares. The stock had previously closed at $37.39.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Standard Motor Products from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 26th.

Standard Motor Products Price Performance

The company has a debt-to-equity ratio of 0.86, a current ratio of 2.16 and a quick ratio of 0.87. The company has a 50-day moving average price of $32.80 and a 200-day moving average price of $29.37. The firm has a market capitalization of $840.68 million, a PE ratio of 21.72 and a beta of 0.63.

Standard Motor Products (NYSE:SMP - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The auto parts company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.32. The business had revenue of $493.85 million for the quarter, compared to the consensus estimate of $450.21 million. Standard Motor Products had a return on equity of 12.98% and a net margin of 2.39%. The business's revenue was up 26.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.98 earnings per share. Sell-side analysts forecast that Standard Motor Products, Inc. will post 3.08 EPS for the current year.

Standard Motor Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 15th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 3.2%. The ex-dividend date is Friday, August 15th. Standard Motor Products's dividend payout ratio is presently 70.45%.

Hedge Funds Weigh In On Standard Motor Products

Institutional investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC increased its stake in Standard Motor Products by 4,842.1% during the second quarter. Nisa Investment Advisors LLC now owns 939 shares of the auto parts company's stock worth $29,000 after acquiring an additional 920 shares during the last quarter. Aquatic Capital Management LLC acquired a new stake in Standard Motor Products during the fourth quarter worth about $30,000. PNC Financial Services Group Inc. increased its stake in Standard Motor Products by 188.3% during the first quarter. PNC Financial Services Group Inc. now owns 2,295 shares of the auto parts company's stock worth $57,000 after acquiring an additional 1,499 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Standard Motor Products by 235.5% in the second quarter. Tower Research Capital LLC TRC now owns 2,298 shares of the auto parts company's stock valued at $71,000 after buying an additional 1,613 shares in the last quarter. Finally, Central Pacific Bank Trust Division grew its stake in shares of Standard Motor Products by 68.0% in the first quarter. Central Pacific Bank Trust Division now owns 4,200 shares of the auto parts company's stock valued at $105,000 after buying an additional 1,700 shares in the last quarter. 81.26% of the stock is currently owned by institutional investors and hedge funds.

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.