Standard Motor Products (NYSE:SMP) Shares Gap Up – What’s Next?

Shares of Standard Motor Products, Inc. (NYSE:SMP) gapped up prior to trading on Wednesday . The stock had previously closed at $28.66, but opened at $31.79. Standard Motor Products shares last traded at $33.76, with a volume of 18,851 shares traded.

Standard Motor Products Stock Performance

The business has a 50 day moving average of $31.73 and a 200 day moving average of $30.89. The company has a market capitalization of $737.71 million, a P/E ratio of 19.29 and a beta of 0.51. The company has a quick ratio of 0.93, a current ratio of 2.46 and a debt-to-equity ratio of 0.31.

Standard Motor Products (NYSE:SMP) last posted its earnings results on Thursday, August 1st. The auto parts company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.20. Standard Motor Products had a net margin of 2.79% and a return on equity of 9.90%. The business had revenue of $389.80 million for the quarter, compared to the consensus estimate of $365.60 million. During the same quarter last year, the firm posted $0.84 EPS. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, sell-side analysts predict that Standard Motor Products, Inc. will post 3.01 earnings per share for the current year.

Standard Motor Products Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were given a $0.29 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.16 dividend on an annualized basis and a yield of 3.41%. Standard Motor Products’s dividend payout ratio is currently 66.29%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Illinois Municipal Retirement Fund grew its holdings in Standard Motor Products by 3.1% in the first quarter. Illinois Municipal Retirement Fund now owns 10,807 shares of the auto parts company’s stock valued at $363,000 after purchasing an additional 328 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in Standard Motor Products by 7.6% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,994 shares of the auto parts company’s stock valued at $235,000 after acquiring an additional 495 shares during the period. GAMMA Investing LLC increased its holdings in Standard Motor Products by 153.8% in the 3rd quarter. GAMMA Investing LLC now owns 906 shares of the auto parts company’s stock worth $30,000 after acquiring an additional 549 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in Standard Motor Products by 6.4% during the third quarter. Louisiana State Employees Retirement System now owns 10,000 shares of the auto parts company’s stock valued at $332,000 after purchasing an additional 600 shares in the last quarter. Finally, US Bancorp DE grew its position in shares of Standard Motor Products by 7.7% in the third quarter. US Bancorp DE now owns 8,533 shares of the auto parts company’s stock valued at $283,000 after purchasing an additional 608 shares during the period. 81.26% of the stock is owned by institutional investors and hedge funds.

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.