Standard Motor Products, Inc. (NYSE:SMP) saw a large increase in short interest in January. As of January 31st, there was short interest totalling 440,100 shares, an increase of 15.1% from the January 15th total of 382,200 shares. Based on an average trading volume of 96,300 shares, the days-to-cover ratio is presently 4.6 days. Approximately 2.3% of the shares of the stock are short sold.
In other Standard Motor Products news, Director Peter J. Sills sold 6,205 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $50.48, for a total transaction of $313,228.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director John P. Gethin sold 2,000 shares of Standard Motor Products stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $51.85, for a total transaction of $103,700.00. Following the completion of the sale, the director now owns 21,171 shares in the company, valued at approximately $1,097,716.35. The disclosure for this sale can be found here. In the last three months, insiders sold 23,205 shares of company stock valued at $1,189,878. 6.60% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Comerica Bank boosted its holdings in shares of Standard Motor Products by 0.9% during the 3rd quarter. Comerica Bank now owns 22,544 shares of the auto parts company’s stock worth $1,122,000 after purchasing an additional 211 shares during the last quarter. Fieldpoint Private Securities LLC increased its holdings in shares of Standard Motor Products by 75.2% in the fourth quarter. Fieldpoint Private Securities LLC now owns 832 shares of the auto parts company’s stock valued at $44,000 after purchasing an additional 357 shares during the last quarter. California State Teachers Retirement System lifted its position in Standard Motor Products by 1.2% during the third quarter. California State Teachers Retirement System now owns 32,816 shares of the auto parts company’s stock worth $1,593,000 after buying an additional 392 shares in the last quarter. Advisor Group Inc. lifted its position in Standard Motor Products by 11.8% during the fourth quarter. Advisor Group Inc. now owns 5,523 shares of the auto parts company’s stock worth $295,000 after buying an additional 582 shares in the last quarter. Finally, First National Bank of Omaha boosted its stake in Standard Motor Products by 2.6% during the fourth quarter. First National Bank of Omaha now owns 25,471 shares of the auto parts company’s stock worth $1,356,000 after buying an additional 647 shares during the last quarter. Hedge funds and other institutional investors own 77.48% of the company’s stock.
Shares of Standard Motor Products stock traded down $1.06 during mid-day trading on Friday, reaching $50.42. 52,700 shares of the stock traded hands, compared to its average volume of 82,737. The stock has a market capitalization of $1.16 billion, a PE ratio of 23.24, a PEG ratio of 1.34 and a beta of 1.01. The business has a 50-day moving average of $51.89 and a 200 day moving average of $49.61. Standard Motor Products has a fifty-two week low of $42.03 and a fifty-two week high of $55.85. The company has a quick ratio of 0.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.06.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Friday, February 14th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, February 13th. This is a positive change from Standard Motor Products’s previous quarterly dividend of $0.23. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.98%. Standard Motor Products’s payout ratio is currently 36.08%.
SMP has been the subject of a number of research reports. Stephens began coverage on shares of Standard Motor Products in a research note on Thursday, December 19th. They set an “overweight” rating and a $61.00 target price for the company. Zacks Investment Research lowered shares of Standard Motor Products from a “hold” rating to a “sell” rating and set a $56.00 price target on the stock. in a research note on Thursday, December 19th.
Standard Motor Products Company Profile
Standard Motor Products, Inc manufactures and distributes replacement parts for motor vehicles in the automotive aftermarket industry. The company operates in two segments, Engine Management and Temperature Control. The Engine Management segment offers electronic ignition control modules, new and remanufactured fuel injectors, ignition wires, coils, switches, relays, EGR valves, distributor caps and rotors, sensors, electronic throttle bodies, keyless entry transmitters, safety-related components, and other engine management components.
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