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

Standard Motor Products, Inc. (NYSE:SMP) announced a quarterly dividend on Wednesday, May 1st, Zacks reports. Shareholders of record on Wednesday, May 15th will be given a dividend of 0.29 per share by the auto parts company on Monday, June 3rd. This represents a $1.16 annualized dividend and a yield of 3.61%. The ex-dividend date is Tuesday, May 14th.

Standard Motor Products has raised its dividend payment by an average of 32.4% annually over the last three years and has raised its dividend every year for the last 2 years. Standard Motor Products has a payout ratio of 33.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Standard Motor Products to earn $3.55 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 32.7%.

Standard Motor Products Stock Performance

Shares of Standard Motor Products stock opened at $32.17 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.66 and a quick ratio of 0.78. The stock has a market capitalization of $726.40 million, a price-to-earnings ratio of 23.14 and a beta of 0.61. The business has a 50-day moving average of $32.33 and a 200 day moving average of $35.87. Standard Motor Products has a 12 month low of $30.09 and a 12 month high of $41.71.

Standard Motor Products (NYSE:SMP) last released its earnings results on Wednesday, May 1st. The auto parts company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.40 by $0.05. Standard Motor Products had a return on equity of 9.48% and a net margin of 2.28%. The firm had revenue of $331.40 million during the quarter, compared to analysts’ expectations of $321.84 million. During the same period in the previous year, the firm posted $0.61 EPS. Standard Motor Products’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, sell-side analysts forecast that Standard Motor Products will post 3.03 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SMP. TheStreet lowered shares of Standard Motor Products from a “b” rating to a “c+” rating in a report on Thursday, February 22nd. StockNews.com upgraded shares of Standard Motor Products from a “hold” rating to a “buy” rating in a research note on Friday, March 29th.

About Standard Motor Products

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.