Media stories about Standard Motor Products (NYSE:SMP) have trended somewhat positive on Wednesday, Accern Sentiment Analysis reports. The research firm rates the sentiment of press coverage by reviewing more than 20 million blog and news sources in real-time. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Standard Motor Products earned a daily sentiment score of 0.16 on Accern’s scale. Accern also assigned press coverage about the auto parts company an impact score of 46.6060912318366 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.
Separately, Zacks Investment Research upgraded Standard Motor Products from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a report on Thursday, February 22nd. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $55.00.
Standard Motor Products (NYSE SMP) opened at $48.37 on Wednesday. Standard Motor Products has a 1 year low of $40.56 and a 1 year high of $54.73. The stock has a market cap of $1,094.72, a PE ratio of 17.10, a PEG ratio of 2.41 and a beta of 1.76.
Standard Motor Products announced that its Board of Directors has initiated a stock buyback program on Monday, November 20th that authorizes the company to buyback $10.00 million in shares. This buyback authorization authorizes the auto parts company to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th were paid a $0.21 dividend. This is a positive change from Standard Motor Products’s previous quarterly dividend of $0.19. The ex-dividend date was Wednesday, February 14th. This represents a $0.84 annualized dividend and a yield of 1.74%. Standard Motor Products’s dividend payout ratio (DPR) is 51.85%.
In other news, Director John P. Gethin sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $49.50, for a total transaction of $247,500.00. Following the completion of the sale, the director now owns 20,850 shares in the company, valued at approximately $1,032,075. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 6.60% of the company’s stock.
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Standard Motor Products Company Profile
Standard Motor Products, Inc is an independent manufacturer and distributor of replacement parts for motor vehicles in the automotive aftermarket industry with a complementary focus on heavy duty, industrial equipment and the original equipment service market. The Company’s segments include Engine Management Segment and Temperature Control Segment.
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