Standard Motor Products (NYSE:SMP) Sets New 52-Week Low at $26.21

Standard Motor Products, Inc. (NYSE:SMP) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $26.21 and last traded at $26.23, with a volume of 105102 shares traded. The stock had previously closed at $26.90.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on SMP shares. Roth Mkm reissued a “buy” rating and issued a $42.00 price target on shares of Standard Motor Products in a research report on Thursday, May 23rd. StockNews.com upgraded Standard Motor Products from a “hold” rating to a “buy” rating in a research note on Friday, March 29th.

Standard Motor Products Stock Up 5.9 %

The company has a debt-to-equity ratio of 0.32, a current ratio of 2.66 and a quick ratio of 0.92. The company has a market cap of $627.33 million, a PE ratio of 20.68 and a beta of 0.52. The company has a fifty day moving average price of $29.52 and a 200 day moving average price of $33.68.

Standard Motor Products (NYSE:SMP) last issued its earnings results on Wednesday, May 1st. The auto parts company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.05. The business had revenue of $331.40 million during the quarter, compared to analyst estimates of $321.84 million. Standard Motor Products had a return on equity of 9.48% and a net margin of 2.28%. Standard Motor Products’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.61 earnings per share. As a group, analysts anticipate that Standard Motor Products, Inc. will post 2.99 EPS for the current year.

Standard Motor Products Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th were given a $0.29 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $1.16 annualized dividend and a yield of 4.03%. Standard Motor Products’s payout ratio is currently 83.45%.

Hedge Funds Weigh In On Standard Motor Products

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC raised its holdings in Standard Motor Products by 98.4% in the third quarter. AQR Capital Management LLC now owns 149,067 shares of the auto parts company’s stock worth $5,012,000 after purchasing an additional 73,937 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Standard Motor Products by 0.9% during the third quarter. Vanguard Group Inc. now owns 1,343,609 shares of the auto parts company’s stock valued at $45,172,000 after buying an additional 12,166 shares during the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of Standard Motor Products during the fourth quarter valued at $389,000. SG Americas Securities LLC boosted its position in shares of Standard Motor Products by 3.4% during the fourth quarter. SG Americas Securities LLC now owns 12,758 shares of the auto parts company’s stock valued at $508,000 after buying an additional 423 shares during the last quarter. Finally, Pacer Advisors Inc. purchased a new position in Standard Motor Products in the fourth quarter worth about $38,215,000. Institutional investors 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.