Standard Motor Products, Inc. (NYSE:SMP) to Issue $0.29 Quarterly Dividend

Standard Motor Products, Inc. (NYSE:SMP) declared a quarterly dividend on Monday, February 3rd,Wall Street Journal reports. Shareholders of record on Friday, February 14th will be paid a dividend of 0.29 per share by the auto parts company on Monday, March 3rd. This represents a $1.16 annualized dividend and a yield of 3.75%. The ex-dividend date is Friday, February 14th.

Standard Motor Products has increased its dividend by an average of 5.1% per year over the last three years. Standard Motor Products has a payout ratio of 31.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Standard Motor Products to earn $3.43 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 33.8%.

Standard Motor Products Price Performance

Shares of NYSE SMP traded up $0.46 during midday trading on Tuesday, reaching $30.94. 72,646 shares of the stock traded hands, compared to its average volume of 88,857. The company’s 50 day moving average is $31.76 and its 200 day moving average is $31.86. Standard Motor Products has a one year low of $26.09 and a one year high of $41.41. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.25 and a quick ratio of 0.82. The stock has a market capitalization of $671.91 million, a PE ratio of 19.10 and a beta of 0.52.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Standard Motor Products from a “buy” rating to a “strong-buy” rating in a research note on Friday.

Insiders Place Their Bets

In related news, VP Ray Nicholas sold 4,730 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $34.11, for a total transaction of $161,340.30. Following the completion of the transaction, the vice president now owns 46,385 shares of the company’s stock, valued at approximately $1,582,192.35. This represents a 9.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Nathan R. Iles sold 1,485 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $34.97, for a total value of $51,930.45. Following the sale, the chief financial officer now owns 29,015 shares of the company’s stock, valued at $1,014,654.55. The trade was a 4.87 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,184 shares of company stock worth $387,041. 5.00% of the stock is owned by corporate insiders.

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.