Shares of Standard Motor Products, Inc. (NYSE:SMP) have received a consensus rating of “Hold” from the six analysts that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $54.00.
Several equities analysts recently commented on SMP shares. Zacks Investment Research cut shares of Standard Motor Products from a “hold” rating to a “strong sell” rating in a research note on Monday, October 30th. B. Riley reaffirmed a “neutral” rating on shares of Standard Motor Products in a research note on Wednesday, November 1st. Finally, FBR & Co reaffirmed a “hold” rating and set a $48.00 price objective on shares of Standard Motor Products in a research note on Friday, October 27th.
A number of hedge funds have recently added to or reduced their stakes in the business. MetLife Investment Advisors LLC purchased a new position in Standard Motor Products in the 4th quarter worth approximately $433,000. Gotham Asset Management LLC grew its stake in Standard Motor Products by 12.4% in the 4th quarter. Gotham Asset Management LLC now owns 24,075 shares of the auto parts company’s stock worth $1,081,000 after buying an additional 2,665 shares in the last quarter. TIAA CREF Investment Management LLC grew its stake in Standard Motor Products by 6.8% in the 4th quarter. TIAA CREF Investment Management LLC now owns 165,817 shares of the auto parts company’s stock worth $7,447,000 after buying an additional 10,582 shares in the last quarter. Raymond James & Associates purchased a new position in Standard Motor Products in the 4th quarter worth approximately $725,000. Finally, Goldman Sachs Group Inc. grew its stake in Standard Motor Products by 0.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 355,605 shares of the auto parts company’s stock worth $15,970,000 after buying an additional 2,722 shares in the last quarter. 80.61% of the stock is owned by institutional investors and hedge funds.
Standard Motor Products (NYSE SMP) opened at $48.20 on Friday. The company has a market cap of $1,090.20, a P/E ratio of 20.42, a P/E/G ratio of 2.46 and a beta of 1.82. Standard Motor Products has a 12 month low of $40.56 and a 12 month high of $54.73.
Standard Motor Products declared that its board has approved a share buyback program on Monday, November 20th that authorizes the company to repurchase $10.00 million in shares. This repurchase authorization authorizes the auto parts company to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 15th will be paid a dividend of $0.21 per share. The ex-dividend date is Wednesday, February 14th. This represents a $0.84 annualized dividend and a yield of 1.74%. This is a boost from Standard Motor Products’s previous quarterly dividend of $0.19. Standard Motor Products’s payout ratio is currently 35.59%.
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Standard Motor Products Company Profile
Standard Motor Products, Inc is an independent manufacturer and distributor of replacement parts for motor vehicles in the automotive aftermarket industry with a complementary focus on heavy duty, industrial equipment and the original equipment service market. The Company’s segments include Engine Management Segment and Temperature Control Segment.
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