Standard Motor Products, Inc. (NYSE:SMP) Sees Large Decline in Short Interest

Standard Motor Products, Inc. (NYSE:SMP) was the target of a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 524,300 shares, a drop of 26.6% from the February 13th total of 714,400 shares. Currently, 2.5% of the company’s stock are short sold. Based on an average daily trading volume, of 125,500 shares, the days-to-cover ratio is presently 4.2 days.

Standard Motor Products Stock Down 1.0 %

Shares of NYSE:SMP traded down $0.27 during trading on Tuesday, hitting $25.94. 191,491 shares of the company were exchanged, compared to its average volume of 144,466. The stock has a market cap of $566.99 million, a price-to-earnings ratio of 16.01 and a beta of 0.50. Standard Motor Products has a fifty-two week low of $25.68 and a fifty-two week high of $35.92. The firm has a fifty day moving average price of $30.05 and a two-hundred day moving average price of $31.47. 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 issued its earnings results on Thursday, February 27th. The auto parts company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.10. The business had revenue of $343.35 million for the quarter, compared to the consensus estimate of $292.50 million. Standard Motor Products had a net margin of 2.56% and a return on equity of 10.42%. As a group, research analysts anticipate that Standard Motor Products will post 3.08 earnings per share for the current fiscal year.

Standard Motor Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date of this dividend was Friday, February 14th. Standard Motor Products’s dividend payout ratio (DPR) is presently 100.81%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Standard Motor Products from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd.

Insider Activity at Standard Motor Products

In other news, EVP Dale Burks sold 11,005 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $27.20, for a total value of $299,336.00. Following the sale, the executive vice president now owns 56,860 shares of the company’s stock, valued at $1,546,592. The trade was a 16.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Aquatic Capital Management LLC acquired a new position in shares of Standard Motor Products during the 4th quarter worth approximately $30,000. Versant Capital Management Inc grew its stake in Standard Motor Products by 147.2% in the 4th quarter. Versant Capital Management Inc now owns 1,031 shares of the auto parts company’s stock valued at $32,000 after buying an additional 614 shares during the last quarter. FMR LLC grew its holdings in Standard Motor Products by 64.6% in the 3rd quarter. FMR LLC now owns 1,745 shares of the auto parts company’s stock valued at $58,000 after buying an additional 685 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in Standard Motor Products by 20.6% in the 4th quarter. Farther Finance Advisors LLC now owns 2,651 shares of the auto parts company’s stock valued at $82,000 after buying an additional 453 shares in the last quarter. Finally, Polymer Capital Management US LLC acquired a new position in Standard Motor Products in the 4th quarter valued at $239,000. 81.26% of the stock is owned by institutional investors and hedge funds.

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.