Standard Motor Products, Inc. (NYSE:SMP) Short Interest Update

Standard Motor Products, Inc. (NYSE:SMP) was the target of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 663,700 shares, a growth of 64.1% from the October 31st total of 404,400 shares. Based on an average daily volume of 171,300 shares, the days-to-cover ratio is presently 3.9 days. Currently, 3.2% of the shares of the company are short sold.

Standard Motor Products Stock Up 0.3 %

Standard Motor Products stock opened at $32.78 on Friday. The stock’s 50 day moving average price is $32.21 and its 200 day moving average price is $31.04. The company has a market cap of $711.98 million, a PE ratio of 20.23 and a beta of 0.51. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.25 and a quick ratio of 0.82. Standard Motor Products has a 1-year low of $26.09 and a 1-year high of $41.71.

Standard Motor Products (NYSE:SMP) last posted its quarterly earnings results on Wednesday, October 30th. The auto parts company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.19. Standard Motor Products had a net margin of 2.56% and a return on equity of 10.42%. The business had revenue of $399.27 million for the quarter, compared to analysts’ expectations of $396.10 million. During the same period in the prior year, the company posted $1.11 EPS. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, sell-side analysts predict that Standard Motor Products will post 3.05 EPS for the current fiscal year.

Standard Motor Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.16 dividend on an annualized basis and a yield of 3.54%. Standard Motor Products’s dividend payout ratio (DPR) is presently 71.61%.

Insider Transactions at Standard Motor Products

In related news, insider Carmine Joseph Broccole sold 913 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $34.96, for a total value of $31,918.48. Following the completion of the sale, the insider now owns 81,241 shares in the company, valued at $2,840,185.36. This trade represents a 1.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Nathan R. Iles sold 1,485 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $34.97, for a total value of $51,930.45. Following the transaction, the chief financial officer now owns 29,015 shares in the company, valued at $1,014,654.55. The trade was a 4.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,454 shares of company stock worth $225,701 over the last 90 days. 5.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Standard Motor Products

Several institutional investors have recently modified their holdings of the company. Innealta Capital LLC acquired a new position in Standard Motor Products during the second quarter worth $25,000. Gladius Capital Management LP acquired a new position in shares of Standard Motor Products during the 2nd quarter worth $30,000. GAMMA Investing LLC boosted its position in shares of Standard Motor Products by 153.8% in the 3rd quarter. GAMMA Investing LLC now owns 906 shares of the auto parts company’s stock worth $30,000 after buying an additional 549 shares in the last quarter. FMR LLC grew its stake in Standard Motor Products by 64.6% in the 3rd quarter. FMR LLC now owns 1,745 shares of the auto parts company’s stock valued at $58,000 after acquiring an additional 685 shares during the last quarter. Finally, Farther Finance Advisors LLC purchased a new position in Standard Motor Products during the 3rd quarter valued at about $73,000. Hedge funds and other institutional investors own 81.26% 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.