Standard Motor Products (NYSE:SMP) Hits New 52-Week Low – Time to Sell?

Standard Motor Products, Inc. (NYSE:SMP) shares hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $25.66 and last traded at $25.71, with a volume of 207323 shares changing hands. The stock had previously closed at $26.50.

Analysts Set New Price Targets

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

Standard Motor Products Trading Down 3.0 %

The firm has a market capitalization of $562.16 million, a PE ratio of 15.87 and a beta of 0.50. The company’s 50-day moving average price is $29.72 and its 200-day moving average price is $31.31. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.82 and a current ratio of 2.25.

Standard Motor Products (NYSE:SMP) last issued its quarterly earnings data on Thursday, February 27th. The auto parts company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.10. The business 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, Inc. will post 3.08 earnings per share for the current year.

Standard Motor Products Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a $0.29 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.51%. Standard Motor Products’s payout ratio is 100.81%.

Insiders Place Their Bets

In other news, EVP Dale Burks sold 11,005 shares of the firm’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 completion of the sale, the executive vice president now owns 56,860 shares in the company, valued at approximately $1,546,592. This trade represents a 16.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Standard Motor Products

A number of large investors have recently modified their holdings of SMP. Thrivent Financial for Lutherans lifted its holdings in Standard Motor Products by 4.0% in the third quarter. Thrivent Financial for Lutherans now owns 16,198 shares of the auto parts company’s stock valued at $538,000 after acquiring an additional 624 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Standard Motor Products during the third quarter worth $382,000. Intech Investment Management LLC boosted its position in Standard Motor Products by 274.6% during the third quarter. Intech Investment Management LLC now owns 37,119 shares of the auto parts company’s stock worth $1,232,000 after purchasing an additional 27,210 shares in the last quarter. FMR LLC raised its stake in shares of Standard Motor Products by 64.6% during the 3rd quarter. FMR LLC now owns 1,745 shares of the auto parts company’s stock worth $58,000 after buying an additional 685 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Standard Motor Products by 129.1% in the third quarter. BNP Paribas Financial Markets now owns 19,721 shares of the auto parts company’s stock valued at $655,000 after purchasing an additional 11,114 shares in the last quarter. 81.26% of the stock is owned by hedge funds and other institutional investors.

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.