Standard Motor Products, Inc. (NYSE:SMP) announced a quarterly dividend on Thursday, February 1st, RTT News reports. Investors of record on Thursday, February 15th will be paid a dividend of 0.21 per share by the auto parts company on Thursday, March 1st. This represents a $0.84 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Wednesday, February 14th. This is a positive change from Standard Motor Products’s previous quarterly dividend of $0.19.
Standard Motor Products has increased its dividend payment by an average of 13.5% annually over the last three years and has raised its dividend annually for the last 7 consecutive years. Standard Motor Products has a dividend payout ratio of 28.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Standard Motor Products to earn $3.27 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 23.2%.
Shares of Standard Motor Products (SMP) opened at $47.90 on Friday. Standard Motor Products has a 1 year low of $40.56 and a 1 year high of $54.73. The company has a market cap of $1,066.45, a P/E ratio of 20.30, a price-to-earnings-growth ratio of 2.40 and a beta of 1.82.
A number of research firms have commented on SMP. B. Riley reaffirmed a “neutral” rating on shares of Standard Motor Products in a research report on Wednesday, November 1st. Zacks Investment Research downgraded shares of Standard Motor Products from a “hold” rating to a “sell” rating in a research report on Wednesday, February 7th. Finally, FBR & Co reaffirmed a “hold” rating and issued a $48.00 target price on shares of Standard Motor Products in a research report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $54.00.
Standard Motor Products announced that its board has approved a share repurchase 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 management believes its stock is undervalued.
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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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