Standard Motor Products Inc. (NYSE:SMP) insider Peter J. Sills sold 2,322 shares of the firm’s stock in a transaction dated Tuesday, September 27th. The shares were sold at an average price of $46.80, for a total transaction of $108,669.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Standard Motor Products Inc. (NYSE:SMP) opened at 47.00 on Tuesday. The company has a 50 day moving average of $45.17 and a 200-day moving average of $39.74. Standard Motor Products Inc. has a 12-month low of $29.69 and a 12-month high of $48.00. The stock has a market cap of $1.07 billion, a P/E ratio of 19.68 and a beta of 1.77.
Standard Motor Products (NYSE:SMP) last announced its earnings results on Wednesday, August 3rd. The company reported $0.88 EPS for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.15. The business earned $289 million during the quarter, compared to the consensus estimate of $277.37 million. Standard Motor Products had a net margin of 5.50% and a return on equity of 14.75%. The firm’s revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.59 earnings per share. Equities analysts forecast that Standard Motor Products Inc. will post $2.83 earnings per share for the current year.
SMP has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Standard Motor Products from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a report on Wednesday, June 15th. FBR & Co raised their price target on shares of Standard Motor Products from $38.00 to $40.00 and gave the company a “mkt perform” rating in a report on Thursday, August 4th. Finally, Jefferies Group raised their price target on shares of Standard Motor Products from $45.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, August 4th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Standard Motor Products presently has an average rating of “Buy” and a consensus target price of $45.00.
A number of institutional investors have recently made changes to their positions in the company. Schroder Investment Management Group increased its position in shares of Standard Motor Products by 79.1% in the second quarter. Schroder Investment Management Group now owns 387,800 shares of the company’s stock worth $15,427,000 after buying an additional 171,216 shares in the last quarter. Emerald Acquisition Ltd. purchased a new position in shares of Standard Motor Products during the second quarter worth approximately $4,102,000. BlackRock Fund Advisors increased its position in shares of Standard Motor Products by 6.8% in the second quarter. BlackRock Fund Advisors now owns 1,325,113 shares of the company’s stock worth $52,713,000 after buying an additional 84,685 shares in the last quarter. Neumeier Poma Investment Counsel LLC purchased a new position in shares of Standard Motor Products during the second quarter worth approximately $2,481,000. Finally, FMR LLC increased its position in shares of Standard Motor Products by 3.2% in the second quarter. FMR LLC now owns 1,702,756 shares of the company’s stock worth $67,736,000 after buying an additional 52,553 shares in the last quarter. Institutional investors and hedge funds own 80.02% of the company’s stock.
About Standard Motor Products
Standard Motor Products, Inc is a manufacturer and distributor of replacement parts for motor vehicles in the automotive aftermarket industry with a focus on heavy duty, industrial equipment and the original equipment service market. The Company operates through two segments: Engine Management Segment and Temperature Control Segment.
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