Standard Motor Products (NYSE:SMP) Reaches New 52-Week High - Should You Buy?

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 stock traded as high as $38.19 and last traded at $37.17, with a volume of 253634 shares trading hands. The stock had previously closed at $37.39.

Analysts Set New Price Targets

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

Standard Motor Products Stock Performance

The firm has a market capitalization of $817.46 million, a PE ratio of 21.12 and a beta of 0.63. 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 firm has a fifty day moving average price of $32.02 and a 200 day moving average price of $29.14.

Standard Motor Products (NYSE:SMP - Get Free Report) last announced its earnings results on Tuesday, August 5th. The auto parts company reported $1.29 EPS for the quarter, beating 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 business had revenue of $493.85 million during the quarter, compared to the consensus estimate of $450.21 million. During the same period in the prior year, the business posted $0.98 earnings per share. Standard Motor Products's revenue was up 26.7% compared to the same quarter last year. Research analysts anticipate that Standard Motor Products, Inc. will post 3.08 earnings per share for the current fiscal year.

Standard Motor Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Friday, August 15th. Standard Motor Products's dividend payout ratio is currently 70.45%.

Institutional Investors Weigh In On Standard Motor Products

Institutional investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. acquired a new stake in Standard Motor Products during the 1st quarter worth about $996,000. North Star Investment Management Corp. acquired a new stake in Standard Motor Products during the 1st quarter worth about $823,000. Rhumbline Advisers boosted its position in Standard Motor Products by 8.4% during the 1st quarter. Rhumbline Advisers now owns 128,896 shares of the auto parts company's stock worth $3,213,000 after acquiring an additional 9,979 shares during the period. SG Americas Securities LLC boosted its position in Standard Motor Products by 144.8% during the 1st quarter. SG Americas Securities LLC now owns 25,604 shares of the auto parts company's stock worth $638,000 after acquiring an additional 15,146 shares during the period. Finally, GAMMA Investing LLC boosted its position in Standard Motor Products by 2,880.9% during the 1st quarter. GAMMA Investing LLC now owns 26,351 shares of the auto parts company's stock worth $657,000 after acquiring an additional 25,467 shares during the period. 81.26% of the stock is currently owned by institutional investors and hedge funds.

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.

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