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

Standard Motor Products, Inc. (NYSE:SMP) was the recipient of a large increase in short interest in February. As of February 15th, there was short interest totalling 714,400 shares, an increase of 30.1% from the January 31st total of 549,000 shares. Based on an average trading volume of 108,100 shares, the days-to-cover ratio is currently 6.6 days. Approximately 3.5% of the company’s stock are short sold.

Standard Motor Products Price Performance

Shares of NYSE SMP traded up $0.35 during midday trading on Tuesday, hitting $28.37. The stock had a trading volume of 221,114 shares, compared to its average volume of 114,737. The company has a quick ratio of 0.82, a current ratio of 2.25 and a debt-to-equity ratio of 0.21. Standard Motor Products has a 1 year low of $26.09 and a 1 year high of $35.92. The company has a market capitalization of $616.14 million, a PE ratio of 17.51 and a beta of 0.52. The stock has a 50 day simple moving average of $30.80 and a 200-day simple moving average of $31.77.

Standard Motor Products (NYSE:SMP) last released its quarterly earnings data on Thursday, February 27th. The auto parts company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.10. The company had revenue of $343.35 million during 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%. On average, sell-side analysts expect that Standard Motor Products will post 3.08 EPS for the current fiscal year.

Standard Motor Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date of this dividend was Friday, February 14th. Standard Motor Products’s dividend payout ratio is presently 100.81%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other news, VP Ray Nicholas sold 4,730 shares of the business’s stock in a transaction 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 sale, the vice president now directly owns 46,385 shares of the company’s stock, valued at $1,582,192.35. The trade was a 9.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Standard Motor Products

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Aquatic Capital Management LLC purchased a new position in Standard Motor Products during the fourth quarter worth about $30,000. Versant Capital Management Inc boosted its position in shares of Standard Motor Products by 147.2% during the 4th quarter. Versant Capital Management Inc now owns 1,031 shares of the auto parts company’s stock worth $32,000 after purchasing an additional 614 shares during the period. FMR LLC increased 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 purchasing an additional 685 shares during the last quarter. Farther Finance Advisors LLC acquired a new stake in Standard Motor Products in the 3rd quarter valued at approximately $73,000. Finally, International Assets Investment Management LLC raised its position in Standard Motor Products by 3,237.5% in the third quarter. International Assets Investment Management LLC now owns 4,005 shares of the auto parts company’s stock valued at $121,000 after purchasing an additional 3,885 shares during the period. Hedge funds and other institutional investors own 81.26% of the company’s stock.

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.