Standard Motor Products, Inc. (NYSE:SMP) has received a consensus rating of “Hold” from the six analysts that are currently covering the stock, Marketbeat reports. Five analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $54.00.

A number of analysts have issued reports on SMP shares. Jefferies Group reaffirmed a “buy” rating and issued a $60.00 target price on shares of Standard Motor Products in a research note on Tuesday, September 12th. Zacks Investment Research raised Standard Motor Products from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. ValuEngine downgraded Standard Motor Products from a “buy” rating to a “hold” rating in a research report on Thursday, August 31st. B. Riley reissued a “neutral” rating on shares of Standard Motor Products in a research report on Wednesday, November 1st. Finally, FBR & Co reissued a “hold” rating and set a $48.00 price objective on shares of Standard Motor Products in a research report on Friday, October 27th.

Shares of Standard Motor Products (NYSE:SMP) opened at $45.02 on Thursday. Standard Motor Products has a 52 week low of $40.56 and a 52 week high of $54.73. The stock has a market capitalization of $1,017.59, a price-to-earnings ratio of 19.08, a price-to-earnings-growth ratio of 2.80 and a beta of 1.80.

Standard Motor Products (NYSE:SMP) last issued its earnings results on Thursday, October 26th. The auto parts company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.12). Standard Motor Products had a return on equity of 13.68% and a net margin of 4.97%. The company had revenue of $281.06 million during the quarter. During the same period in the previous year, the business earned $0.92 earnings per share. The firm’s revenue was down 6.5% on a year-over-year basis. research analysts predict that Standard Motor Products will post 2.67 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Wednesday, November 15th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend was Tuesday, November 14th. Standard Motor Products’s payout ratio is 32.20%.

Standard Motor Products announced that its Board of Directors has initiated a share repurchase program on Monday, November 20th that allows the company to buyback $10.00 million in shares. This buyback authorization allows the auto parts company to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

In related news, VP Thomas Tesoro sold 775 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $44.18, for a total transaction of $34,239.50. Following the completion of the transaction, the vice president now directly owns 31,456 shares in the company, valued at approximately $1,389,726.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Ray Nicholas sold 1,000 shares of the firm’s stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $48.35, for a total value of $48,350.00. The disclosure for this sale can be found here. Insiders have sold a total of 22,595 shares of company stock valued at $1,041,475 over the last three months. Corporate insiders own 6.60% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Suntrust Banks Inc. boosted its holdings in Standard Motor Products by 1.1% during the 2nd quarter. Suntrust Banks Inc. now owns 5,949 shares of the auto parts company’s stock valued at $310,000 after acquiring an additional 64 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Standard Motor Products by 0.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,970 shares of the auto parts company’s stock valued at $886,000 after buying an additional 80 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Standard Motor Products by 1.0% in the 2nd quarter. Wells Fargo & Company MN now owns 38,285 shares of the auto parts company’s stock valued at $1,999,000 after buying an additional 397 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Standard Motor Products by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 4,854 shares of the auto parts company’s stock valued at $253,000 after buying an additional 729 shares during the period. Finally, Voya Investment Management LLC boosted its stake in shares of Standard Motor Products by 8.6% in the 2nd quarter. Voya Investment Management LLC now owns 11,155 shares of the auto parts company’s stock valued at $583,000 after buying an additional 884 shares during the period. Institutional investors own 79.16% of the company’s stock.

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About Standard Motor Products

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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