Standard Motor Products Inc. (NYSE:SMP) EVP Dale Burks sold 900 shares of the firm’s stock in a transaction that occurred on Monday, October 10th. The shares were sold at an average price of $47.06, for a total transaction of $42,354.00. Following the completion of the sale, the executive vice president now owns 42,452 shares in the company, valued at approximately $1,997,791.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Standard Motor Products Inc. (NYSE:SMP) opened at 47.68 on Monday. The company has a market cap of $1.08 billion, a P/E ratio of 19.97 and a beta of 1.77. The stock’s 50 day moving average is $46.26 and its 200 day moving average is $40.50. Standard Motor Products Inc. has a 1-year low of $29.69 and a 1-year high of $48.37.
Standard Motor Products (NYSE:SMP) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.15. Standard Motor Products had a net margin of 5.50% and a return on equity of 14.75%. The company had revenue of $289 million for the quarter, compared to analyst estimates of $277.37 million. During the same quarter in the previous year, the firm posted $0.59 earnings per share. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. Equities analysts anticipate that Standard Motor Products Inc. will post $2.83 earnings per share for the current fiscal year.
A number of analysts have weighed in on the stock. FBR & Co raised their target price on shares of Standard Motor Products from $38.00 to $40.00 and gave the company a “mkt perform” rating in a research report on Thursday, August 4th. Zacks Investment Research upgraded shares of Standard Motor Products from a “hold” rating to a “strong-buy” rating and set a $50.00 target price on the stock in a research report on Friday, August 5th. Finally, Jefferies Group raised their target price on shares of Standard Motor Products from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $46.00.
A number of hedge funds have recently bought and sold shares of SMP. FMR LLC raised its stake in 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 during the period. Dimensional Fund Advisors LP raised its stake in Standard Motor Products by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,608,048 shares of the company’s stock worth $63,967,000 after buying an additional 12,148 shares during the period. BlackRock Fund Advisors raised its stake in 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 during the period. Vanguard Group Inc. raised its stake in Standard Motor Products by 5.8% in the second quarter. Vanguard Group Inc. now owns 914,466 shares of the company’s stock worth $36,378,000 after buying an additional 49,953 shares during the period. Finally, Macquarie Group Ltd. raised its stake in Standard Motor Products by 3.2% in the second quarter. Macquarie Group Ltd. now owns 821,480 shares of the company’s stock worth $32,678,000 after buying an additional 25,310 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.
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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