Standard Motor Products (NYSE:SMP) Releases Earnings Results, Beats Estimates By $0.21 EPS

Standard Motor Products (NYSE:SMPGet Rating) posted its earnings results on Tuesday. The auto parts company reported $0.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.21, MarketWatch Earnings reports. The company had revenue of $322.80 million for the quarter, compared to analyst estimates of $304.30 million. Standard Motor Products had a return on equity of 17.04% and a net margin of 7.00%. The company’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter last year, the company earned $0.97 earnings per share.

Standard Motor Products stock traded up $0.33 during mid-day trading on Thursday, reaching $42.44. 202 shares of the company’s stock were exchanged, compared to its average volume of 69,838. The business’s fifty day simple moving average is $43.47 and its 200 day simple moving average is $47.78. Standard Motor Products has a one year low of $40.33 and a one year high of $55.09. The firm has a market capitalization of $957.02 million, a PE ratio of 10.61 and a beta of 0.46.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 1st. Investors of record on Monday, May 16th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, May 13th. This represents a $1.08 dividend on an annualized basis and a yield of 2.54%. Standard Motor Products’s dividend payout ratio (DPR) is currently 27.20%.

In other news, Director Lawrence I. Sills bought 985 shares of the firm’s stock in a transaction on Tuesday, March 8th. The stock was acquired at an average cost of $43.62 per share, with a total value of $42,965.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lawrence I. Sills purchased 3,650 shares of Standard Motor Products stock in a transaction dated Wednesday, March 2nd. The stock was bought at an average price of $45.21 per share, with a total value of $165,016.50. The disclosure for this purchase can be found here. Insiders acquired 9,185 shares of company stock valued at $407,090 over the last three months. Company insiders own 6.60% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in SMP. Envestnet Asset Management Inc. boosted its stake in Standard Motor Products by 17.4% during the first quarter. Envestnet Asset Management Inc. now owns 7,983 shares of the auto parts company’s stock valued at $344,000 after buying an additional 1,185 shares during the period. Stifel Financial Corp bought a new stake in Standard Motor Products during the fourth quarter valued at $429,000. Royal Bank of Canada boosted its stake in Standard Motor Products by 5.4% during the third quarter. Royal Bank of Canada now owns 14,691 shares of the auto parts company’s stock valued at $641,000 after buying an additional 759 shares during the period. Deutsche Bank AG boosted its stake in Standard Motor Products by 5.7% during the fourth quarter. Deutsche Bank AG now owns 13,011 shares of the auto parts company’s stock valued at $682,000 after buying an additional 701 shares during the period. Finally, Credit Suisse AG boosted its stake in Standard Motor Products by 9.7% during the fourth quarter. Credit Suisse AG now owns 17,125 shares of the auto parts company’s stock valued at $897,000 after buying an additional 1,512 shares during the period. Institutional investors own 76.54% of the company’s stock.

A number of analysts recently commented on the company. Zacks Investment Research lowered Standard Motor Products from a “buy” rating to a “hold” rating and set a $50.00 price target on the stock. in a report on Tuesday, February 1st. StockNews.com assumed coverage on Standard Motor Products in a report on Thursday, March 31st. They set a “buy” rating on the stock.

Standard Motor Products Company Profile (Get Rating)

Standard Motor Products, Inc manufactures and distributes replacement parts for motor vehicles in the automotive aftermarket industry. It operates in two segments, Engine Management and Temperature Control. The Engine Management segment offers components for the ignition, electrical, emissions, fuel, and safety-related systems of motor vehicles under the Standard, SMP Blue Streak, BWD, Intermotor, OEM, TechSmart, GP Sorensen, Locksmart, Standard Motorcycle, and Blue Streak Race Wires brands.

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Earnings History for Standard Motor Products (NYSE:SMP)

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