Carmine Joseph Broccole Sells 913 Shares of Standard Motor Products, Inc. (NYSE:SMP) Stock

Standard Motor Products, Inc. (NYSE:SMP) insider Carmine Joseph Broccole sold 913 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $34.96, for a total value of $31,918.48. Following the completion of the sale, the insider now owns 81,241 shares of the company’s stock, valued at $2,840,185.36. This trade represents a 1.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Standard Motor Products Stock Performance

NYSE SMP opened at $33.98 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.82 and a current ratio of 2.25. The stock’s fifty day moving average is $32.20 and its two-hundred day moving average is $31.04. The firm has a market capitalization of $738.05 million, a P/E ratio of 20.98 and a beta of 0.51. Standard Motor Products, Inc. has a fifty-two week low of $26.09 and a fifty-two week high of $41.71.

Standard Motor Products (NYSE:SMP) last posted its quarterly earnings results on Wednesday, October 30th. The auto parts company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.09 by $0.19. Standard Motor Products had a return on equity of 10.42% and a net margin of 2.56%. The business had revenue of $399.27 million for the quarter, compared to analyst estimates of $396.10 million. During the same quarter in the previous year, the firm earned $1.11 EPS. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, research analysts anticipate that Standard Motor Products, Inc. will post 3.03 earnings per share for the current year.

Standard Motor Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.16 annualized dividend and a yield of 3.41%. Standard Motor Products’s payout ratio is 71.61%.

Institutional Trading of Standard Motor Products

Hedge funds and other institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new position in Standard Motor Products in the first quarter worth approximately $301,000. Illinois Municipal Retirement Fund grew its holdings in shares of Standard Motor Products by 3.1% during the 1st quarter. Illinois Municipal Retirement Fund now owns 10,807 shares of the auto parts company’s stock worth $363,000 after purchasing an additional 328 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of Standard Motor Products during the 1st quarter worth about $205,000. SageView Advisory Group LLC purchased a new stake in Standard Motor Products in the 1st quarter valued at about $222,000. Finally, Vanguard Group Inc. lifted its position in Standard Motor Products by 3.6% in the first quarter. Vanguard Group Inc. now owns 1,442,712 shares of the auto parts company’s stock valued at $48,403,000 after buying an additional 49,905 shares during the last quarter. Institutional investors and hedge funds own 81.26% of the company’s stock.

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.