Standard Motor Products (NYSE:SMP) Sets New 52-Week Low at $27.01

Shares of Standard Motor Products, Inc. (NYSE:SMP) hit a new 52-week low during trading on Monday . The company traded as low as $27.01 and last traded at $27.01, with a volume of 28564 shares traded. The stock had previously closed at $27.73.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SMP shares. StockNews.com upgraded Standard Motor Products from a “hold” rating to a “buy” rating in a research report on Friday, March 29th. Roth Mkm reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Standard Motor Products in a report on Thursday, May 23rd.

Standard Motor Products Stock Down 2.1 %

The firm has a 50 day moving average of $30.50 and a 200 day moving average of $34.42. The firm has a market cap of $592.19 million, a price-to-earnings ratio of 19.95 and a beta of 0.52. The company has a quick ratio of 0.92, a current ratio of 2.66 and a debt-to-equity ratio of 0.32.

Standard Motor Products (NYSE:SMP) last released its earnings results on Wednesday, May 1st. The auto parts company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.40 by $0.05. Standard Motor Products had a return on equity of 9.48% and a net margin of 2.28%. The business had revenue of $331.40 million during the quarter, compared to analysts’ expectations of $321.84 million. During the same quarter last year, the firm posted $0.61 earnings per share. The firm’s revenue was up 1.0% on a year-over-year basis. As a group, sell-side analysts predict that Standard Motor Products, Inc. will post 2.99 earnings per share for the current year.

Standard Motor Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Wednesday, May 15th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 4.27%. The ex-dividend date was Tuesday, May 14th. Standard Motor Products’s payout ratio is 83.45%.

Hedge Funds Weigh In On Standard Motor Products

Hedge funds and other institutional investors have recently modified their holdings of the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in shares of Standard Motor Products by 5.0% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,499 shares of the auto parts company’s stock valued at $259,000 after acquiring an additional 307 shares during the last quarter. Illinois Municipal Retirement Fund lifted its stake in shares of Standard Motor Products by 3.1% in the 1st quarter. Illinois Municipal Retirement Fund now owns 10,807 shares of the auto parts company’s stock valued at $363,000 after acquiring an additional 328 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Standard Motor Products by 3.4% in the 4th quarter. SG Americas Securities LLC now owns 12,758 shares of the auto parts company’s stock valued at $508,000 after acquiring an additional 423 shares during the last quarter. Cornercap Investment Counsel Inc. lifted its stake in shares of Standard Motor Products by 2.1% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 26,313 shares of the auto parts company’s stock valued at $1,048,000 after acquiring an additional 535 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Standard Motor Products by 3.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,396 shares of the auto parts company’s stock valued at $618,000 after purchasing an additional 634 shares during the last quarter. 81.26% of the stock is currently owned by hedge funds and other institutional investors.

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.