Standard Motor Products, Inc. (NYSE:SMP) announced a quarterly dividend on Wednesday, February 1st. Shareholders of record on Wednesday, February 15th will be paid a dividend of 0.19 per share on Wednesday, March 1st. This represents a $0.76 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Monday, February 13th. This is a boost from Standard Motor Products’s previous quarterly dividend of $0.17.
Shares of Standard Motor Products (NYSE:SMP) opened at 49.77 on Friday. Standard Motor Products has a 12 month low of $29.69 and a 12 month high of $55.37. The firm has a 50-day moving average price of $51.08 and a 200-day moving average price of $48.26. The company has a market capitalization of $1.14 billion, a PE ratio of 19.99 and a beta of 1.81.
In related news, Director Peter J. Sills sold 15,000 shares of Standard Motor Products stock in a transaction that occurred on Monday, November 28th. The stock was sold at an average price of $51.01, for a total transaction of $765,150.00. Following the completion of the sale, the director now directly owns 376,001 shares of the company’s stock, valued at approximately $19,179,811.01. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 6.50% of the company’s stock.
SMP has been the subject of a number of analyst reports. Jefferies Group LLC restated a “buy” rating and issued a $56.00 price target on shares of Standard Motor Products in a research note on Wednesday, October 19th. Zacks Investment Research upgraded Standard Motor Products from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a research note on Tuesday, December 27th. One analyst has rated the stock with a sell rating and three have assigned a buy rating to the stock. Standard Motor Products has a consensus rating of “Buy” and an average price target of $49.75.
About Standard Motor Products
Standard Motor Products, Inc is a manufacturer and distributor of replacement parts for motor vehicles in the automotive aftermarket industry with a focus on heavy duty, industrial equipment and the original equipment service market. The Company operates through two segments: Engine Management Segment and Temperature Control Segment.
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