Standard Motor Products Inc. (NYSE:SMP) insider Peter J. Sills sold 2,271 shares of the company’s stock in a transaction on Tuesday, October 18th. The shares were sold at an average price of $47.87, for a total value of $108,712.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Standard Motor Products Inc. (NYSE:SMP) traded up 0.55% during mid-day trading on Wednesday, hitting $47.80. The stock had a trading volume of 135,514 shares. Standard Motor Products Inc. has a 52 week low of $29.69 and a 52 week high of $48.37. The company’s 50 day moving average is $46.45 and its 200-day moving average is $40.77. The stock has a market capitalization of $1.09 billion, a P/E ratio of 20.02 and a beta of 1.77.
Standard Motor Products (NYSE:SMP) last issued its quarterly 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 had revenue of $289 million for the quarter, compared to analyst estimates of $277.37 million. Standard Motor Products had a return on equity of 14.75% and a net margin of 5.50%. Standard Motor Products’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the company posted $0.59 earnings per share. On average, analysts expect that Standard Motor Products Inc. will post $2.83 EPS for the current fiscal year.
A number of research analysts have commented on SMP shares. Jefferies Group reaffirmed a “buy” rating and issued a $56.00 price objective on shares of Standard Motor Products in a report on Wednesday. Zacks Investment Research raised Standard Motor Products from a “hold” rating to a “strong-buy” rating and set a $55.00 price objective on the stock in a report on Wednesday. Finally, FBR & Co upped 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. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $48.75.
A number of hedge funds have recently modified their holdings of SMP. PineBridge Investments L.P. raised its stake in shares of Standard Motor Products by 8.1% in the second quarter. PineBridge Investments L.P. now owns 2,504 shares of the company’s stock worth $100,000 after buying an additional 187 shares during the period. Teacher Retirement System of Texas raised its stake in shares of 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 worth $113,000 after buying an additional 341 shares during the period. Creative Planning raised its stake in shares of Standard Motor Products by 15.2% in the third quarter. Creative Planning now owns 2,550 shares of the company’s stock worth $122,000 after buying an additional 337 shares during the period. BlackRock Inc. raised its stake in shares of Standard Motor Products by 216.2% in the second quarter. BlackRock Inc. now owns 3,772 shares of the company’s stock worth $150,000 after buying an additional 2,579 shares during the period. Finally, Mason Street Advisors LLC acquired a new stake in shares of Standard Motor Products during the second quarter worth approximately $154,000. Institutional investors and hedge funds own 80.03% of the company’s stock.
Standard Motor Products Company Profile
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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