Standard Motor Products, Inc. (NYSE:SMP) Plans Quarterly Dividend of $0.29

Standard Motor Products, Inc. (NYSE:SMP) announced a quarterly dividend on Monday, February 3rd,Wall Street Journal reports. Investors of record on Friday, February 14th will be paid a dividend of 0.29 per share by the auto parts company on Monday, March 3rd. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date of this dividend is Friday, February 14th.

Standard Motor Products has increased its dividend payment by an average of 5.1% per year over the last three years. Standard Motor Products has a dividend payout ratio of 31.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Standard Motor Products to earn $3.43 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 33.8%.

Standard Motor Products Trading Up 1.9 %

SMP opened at $31.25 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 2.25 and a debt-to-equity ratio of 0.21. The stock’s fifty day moving average is $31.51 and its two-hundred day moving average is $31.83. The company has a market capitalization of $678.64 million, a P/E ratio of 19.29 and a beta of 0.52. Standard Motor Products has a 52 week low of $26.09 and a 52 week high of $41.41.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Standard Motor Products from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 31st.

Insider Transactions at Standard Motor Products

In other news, VP Ray Nicholas sold 4,730 shares of Standard Motor Products stock in a transaction on Monday, December 9th. The stock was sold at an average price of $34.11, for a total value of $161,340.30. Following the transaction, the vice president now directly owns 46,385 shares in the company, valued at approximately $1,582,192.35. This trade represents a 9.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 5.00% 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.