Standard Motor Products Inc. (NYSE:SMP) Director Peter J. Sills sold 2,314 shares of Standard Motor Products stock in a transaction on Tuesday, October 11th. The shares were sold at an average price of $46.99, for a total value of $108,734.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Standard Motor Products Inc. (NYSE:SMP) opened at 47.28 on Friday. Standard Motor Products Inc. has a one year low of $29.69 and a one year high of $48.37. The firm has a market capitalization of $1.07 billion, a P/E ratio of 19.80 and a beta of 1.77. The firm’s 50-day moving average price is $46.16 and its 200 day moving average price is $40.40.
Standard Motor Products (NYSE:SMP) last posted its earnings results on Wednesday, August 3rd. The company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.15. The firm had revenue of $289 million for the quarter, compared to the consensus estimate of $277.37 million. Standard Motor Products had a return on equity of 14.75% and a net margin of 5.50%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.59 earnings per share. On average, equities analysts anticipate that Standard Motor Products Inc. will post $2.83 earnings per share for the current fiscal year.
Several brokerages have recently issued reports on SMP. Zacks Investment Research lowered Standard Motor Products from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 4th. Jefferies Group raised their price objective on Standard Motor Products from $45.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, August 4th. Finally, FBR & Co raised their price objective on Standard Motor Products from $38.00 to $40.00 and gave the company a “mkt perform” rating in a report on Thursday, August 4th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $45.00.
Several large investors have recently bought and sold shares of SMP. PineBridge Investments L.P. increased its stake in Standard Motor Products by 8.1% in the second quarter. PineBridge Investments L.P. now owns 2,504 shares of the company’s stock valued at $100,000 after buying an additional 187 shares in the last quarter. Teacher Retirement System of Texas boosted its position in Standard Motor Products by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 2,838 shares of the company’s stock valued at $113,000 after buying an additional 341 shares during the last quarter. Creative Planning boosted its position in Standard Motor Products by 15.2% in the third quarter. Creative Planning now owns 2,550 shares of the company’s stock valued at $122,000 after buying an additional 337 shares during the last quarter. BlackRock Inc. boosted its position in Standard Motor Products by 216.2% in the second quarter. BlackRock Inc. now owns 3,772 shares of the company’s stock valued at $150,000 after buying an additional 2,579 shares during the last quarter. Finally, Mason Street Advisors LLC purchased a new position in Standard Motor Products during the second quarter valued at $154,000. Hedge funds and other institutional investors own 80.04% 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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