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

Standard Motor Products, Inc. (NYSE:SMP) announced a quarterly dividend on Thursday, August 1st, NASDAQ reports. Investors of record on Thursday, August 15th will be paid a dividend of 0.29 per share by the auto parts company on Tuesday, September 3rd. This represents a $1.16 annualized dividend and a yield of 3.52%. The ex-dividend date is Thursday, August 15th.

Standard Motor Products has increased its dividend by an average of 32.4% per year over the last three years. Standard Motor Products has a dividend payout ratio of 33.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Standard Motor Products to earn $3.48 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 33.3%.

Standard Motor Products Stock Up 0.7 %

Shares of SMP stock traded up $0.24 during mid-day trading on Thursday, hitting $32.97. The company’s stock had a trading volume of 202,820 shares, compared to its average volume of 145,972. The business has a 50-day moving average price of $29.40 and a 200 day moving average price of $32.86. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.92 and a current ratio of 2.66. The stock has a market cap of $719.24 million, a price-to-earnings ratio of 23.40 and a beta of 0.52. Standard Motor Products has a 52-week low of $26.09 and a 52-week high of $41.71.

Standard Motor Products (NYSE:SMP) last posted its quarterly earnings data on Wednesday, May 1st. The auto parts company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.05. Standard Motor Products had a net margin of 2.28% and a return on equity of 9.48%. The company had revenue of $331.40 million for the quarter, compared to the consensus estimate of $321.84 million. During the same quarter last year, the firm posted $0.61 earnings per share. The firm’s revenue was up 1.0% compared to the same quarter last year. Research analysts predict that Standard Motor Products will post 2.99 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Roth Mkm reiterated a “buy” rating and issued a $42.00 price target on shares of Standard Motor Products in a research note on Thursday, May 23rd.

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.