Shares of Standard Motor Products, Inc. (NYSE:SMP - Get Free Report) gapped up prior to trading on Tuesday following a stronger than expected earnings report. The stock had previously closed at $31.58, but opened at $34.68. Standard Motor Products shares last traded at $33.06, with a volume of 33,965 shares trading hands.
The auto parts company reported $1.29 EPS for the quarter, beating analysts' consensus estimates of $0.97 by $0.32. Standard Motor Products had a net margin of 2.02% and a return on equity of 12.12%. The business's revenue was up 26.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.98 earnings per share.
Standard Motor Products Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 15th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 3.7%. Standard Motor Products's payout ratio is currently 88.57%.
Wall Street Analyst Weigh In
Separately, Wall Street Zen upgraded shares of Standard Motor Products from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 26th.
View Our Latest Stock Analysis on Standard Motor Products
Institutional Investors Weigh In On Standard Motor Products
A number of hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in shares of Standard Motor Products during the 4th quarter valued at approximately $2,710,000. Algert Global LLC acquired a new stake in shares of Standard Motor Products during the 4th quarter valued at approximately $2,524,000. Nuveen LLC acquired a new stake in shares of Standard Motor Products during the 1st quarter valued at approximately $1,964,000. Gamco Investors INC. ET AL lifted its position in shares of Standard Motor Products by 10.1% during the 1st quarter. Gamco Investors INC. ET AL now owns 790,210 shares of the auto parts company's stock valued at $19,700,000 after acquiring an additional 72,753 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of Standard Motor Products by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 1,655,886 shares of the auto parts company's stock valued at $51,299,000 after acquiring an additional 69,000 shares during the period. Institutional investors and hedge funds own 81.26% of the company's stock.
Standard Motor Products Stock Performance
The stock's 50-day moving average price is $31.36 and its 200-day moving average price is $28.96. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.86 and a current ratio of 2.32. The company has a market capitalization of $728.54 million, a price-to-earnings ratio of 23.61 and a beta of 0.63.
About Standard Motor Products
(
Get Free Report)
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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