Standard Motor Products, Inc. (NYSE:SMP) Short Interest Update

Standard Motor Products, Inc. (NYSE:SMP) was the recipient of a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 663,700 shares, an increase of 64.1% from the October 31st total of 404,400 shares. Based on an average daily volume of 171,300 shares, the short-interest ratio is currently 3.9 days. Currently, 3.2% of the company’s stock are short sold.

Insider Buying and Selling

In other Standard Motor Products news, insider Carmine Joseph Broccole sold 913 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 81,241 shares of the company’s stock, valued at $2,840,185.36. This represents a 1.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Dale Burks sold 1,722 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $34.96, for a total transaction of $60,201.12. Following the completion of the transaction, the executive vice president now directly owns 67,865 shares of the company’s stock, valued at approximately $2,372,560.40. The trade was a 2.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 6,454 shares of company stock valued at $225,701. Company insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On Standard Motor Products

Large investors have recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in shares of Standard Motor Products by 153.8% in the third quarter. GAMMA Investing LLC now owns 906 shares of the auto parts company’s stock valued at $30,000 after acquiring an additional 549 shares in the last quarter. Innealta Capital LLC bought a new stake in Standard Motor Products during the second quarter worth approximately $25,000. Gladius Capital Management LP bought a new stake in Standard Motor Products during the second quarter worth approximately $30,000. FMR LLC boosted its holdings in Standard Motor Products by 64.6% during the third quarter. FMR LLC now owns 1,745 shares of the auto parts company’s stock worth $58,000 after buying an additional 685 shares in the last quarter. Finally, Farther Finance Advisors LLC bought a new stake in Standard Motor Products during the third quarter worth approximately $73,000. Institutional investors and hedge funds own 81.26% of the company’s stock.

Standard Motor Products Stock Performance

SMP traded up $0.10 on Friday, hitting $32.88. 53,613 shares of the company’s stock were exchanged, compared to its average volume of 133,326. The firm has a market cap of $714.15 million, a PE ratio of 20.30 and a beta of 0.51. Standard Motor Products has a twelve month low of $26.09 and a twelve month high of $41.71. The stock has a fifty day moving average of $32.15 and a two-hundred day moving average of $31.05. The company has a current ratio of 2.25, a quick ratio of 0.82 and a debt-to-equity ratio of 0.21.

Standard Motor Products (NYSE:SMP) last released its quarterly earnings data on Wednesday, October 30th. The auto parts company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.19. The firm had revenue of $399.27 million for the quarter, compared to analyst estimates of $396.10 million. Standard Motor Products had a net margin of 2.56% and a return on equity of 10.42%. Standard Motor Products’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.11 earnings per share. On average, research analysts anticipate that Standard Motor Products will post 3.05 earnings per share for the current fiscal year.

Standard Motor Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be paid a $0.29 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.16 annualized dividend and a dividend yield of 3.53%. Standard Motor Products’s payout ratio is currently 71.61%.

Standard Motor Products Company Profile

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.