Standard Motor Products (NYSE:SMP) Shares Cross Above Two Hundred Day Moving Average – Should You Sell?

Standard Motor Products, Inc. (NYSE:SMPGet Free Report)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $38.78 and traded as high as $38.80. Standard Motor Products shares last traded at $38.3170, with a volume of 125,069 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Weiss Ratings lowered shares of Standard Motor Products from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 20th. Zacks Research downgraded shares of Standard Motor Products from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 12th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Standard Motor Products presently has a consensus rating of “Hold” and a consensus price target of $49.00.

Check Out Our Latest Research Report on Standard Motor Products

Standard Motor Products Trading Down 1.6%

The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.78 and a current ratio of 2.23. The stock has a market capitalization of $850.05 million, a PE ratio of 18.72 and a beta of 0.81. The business’s 50-day moving average is $38.54 and its two-hundred day moving average is $38.79.

Standard Motor Products (NYSE:SMPGet Free Report) last announced its quarterly earnings data on Thursday, April 30th. The auto parts company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.09. The company had revenue of $451.17 million during the quarter, compared to the consensus estimate of $429.07 million. Standard Motor Products had a net margin of 2.51% and a return on equity of 12.98%. As a group, equities research analysts anticipate that Standard Motor Products, Inc. will post 4.4 earnings per share for the current year.

Standard Motor Products Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Friday, May 15th. Standard Motor Products’s dividend payout ratio is currently 64.71%.

Insider Buying and Selling

In other Standard Motor Products news, VP Ray Nicholas sold 5,822 shares of Standard Motor Products stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $39.75, for a total value of $231,424.50. Following the sale, the vice president owned 35,327 shares of the company’s stock, valued at approximately $1,404,248.25. The trade was a 14.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Standard Motor Products

Hedge funds and other institutional investors have recently bought and sold shares of the business. Delphi Management Inc. MA boosted its holdings in Standard Motor Products by 506.3% during the fourth quarter. Delphi Management Inc. MA now owns 34,661 shares of the auto parts company’s stock worth $1,277,000 after buying an additional 28,944 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Standard Motor Products by 207.8% during the 1st quarter. SG Americas Securities LLC now owns 259,180 shares of the auto parts company’s stock valued at $9,004,000 after acquiring an additional 174,986 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Standard Motor Products by 727.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 98,751 shares of the auto parts company’s stock worth $3,431,000 after acquiring an additional 86,823 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Standard Motor Products by 405.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 50,990 shares of the auto parts company’s stock worth $2,081,000 after acquiring an additional 40,898 shares during the period. Finally, Congruence Capital LLC purchased a new position in Standard Motor Products in the 4th quarter valued at approximately $6,571,000. Institutional investors and hedge funds own 81.26% of the company’s stock.

About Standard Motor Products

(Get Free Report)

Standard Motor Products, Inc, headquartered in Long Island City, New York, is a leading manufacturer and distributor of aftermarket and original equipment automotive parts. Since its founding in 1919, the company has focused on engineering, testing, and supplying ignition and temperature management products for passenger cars and light trucks. Its product lineup includes ignition coils, spark plug wires, sensors, switches, heating and air conditioning controls, and related electronic components.

The company operates through two primary segments: Engine Management and Temperature Control.

Further Reading

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