On February 2, 2024, Standard Motor Products, Inc. (NYSE:SMP) declared a quarterly dividend of $0.33 per share. This dividend will be paid to shareholders of record on February 16, 2024, with disbursement scheduled for March 2, 2024. This marks a 6.5% increase from the previous quarterly dividend of $0.31.
The announcement positions Standard Motor Products with an annualized dividend of $1.32 and a dividend yield of 3.1%. The ex-dividend date, which is critical for investors to note, is set for February 13, 2024. With a dividend payout ratio of 29.5%, the company demonstrates that its dividend is well-supported by earnings.
Analysts forecast that Standard Motor Products will earn $3.43 per share in the upcoming year. This projection suggests a future payout ratio of 36.2%, indicating that the company is likely to maintain its dividend commitments.
Stock Performance and Financial Metrics
On the day of the announcement, Standard Motor Products’ stock price increased by $2.36, reaching a value of $42.29. A total of 131,551 shares were traded, slightly above its average trading volume of 125,483. The stock has a fifty-day moving average of $38.22 and a two-hundred-day moving average of $38.09.
Over the past year, the stock has fluctuated between a low of $21.38 and a high of $42.69. Currently, the company boasts a market capitalization of approximately $930.31 million, a price-to-earnings (PE) ratio of 30.21, and a beta of 0.76. Furthermore, Standard Motor Products maintains a debt-to-equity ratio of 0.78, with a current ratio of 1.96 and a quick ratio of 0.77.
About Standard Motor Products
Standard Motor Products, Inc., headquartered in Long Island City, New York, is a prominent manufacturer and distributor of both aftermarket and original equipment automotive parts. Founded in 1919, the company specializes in engineering, testing, and supplying ignition and temperature management products tailored for passenger vehicles and light trucks.
Its diverse range of products includes ignition coils, spark plug wires, sensors, switches, and heating and air conditioning controls, along with related electronic components. The company operates primarily through two segments: Engine Management and Temperature Control.
For further updates and detailed insights on Standard Motor Products, interested parties can subscribe to receive daily news summaries and analyst ratings through MarketBeat.com.