Eagle Asset Management Inc. decreased its stake in Standard Motor Products, Inc. (NYSE:SMP) by 2.7% during the first quarter, Holdings Channel reports. The institutional investor owned 207,227 shares of the auto parts company’s stock after selling 5,670 shares during the period. Eagle Asset Management Inc.’s holdings in Standard Motor Products were worth $10,183,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in SMP. Capital Fund Management S.A. acquired a new stake in Standard Motor Products during the first quarter valued at about $1,007,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Standard Motor Products during the fourth quarter valued at about $3,705,000. Thrivent Financial for Lutherans increased its stake in Standard Motor Products by 129.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 23,380 shares of the auto parts company’s stock valued at $1,244,000 after buying an additional 13,190 shares in the last quarter. Northern Trust Corp increased its stake in Standard Motor Products by 7.3% in the third quarter. Northern Trust Corp now owns 732,771 shares of the auto parts company’s stock valued at $34,997,000 after buying an additional 49,848 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its stake in Standard Motor Products by 11.1% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 16,373 shares of the auto parts company’s stock valued at $871,000 after buying an additional 1,640 shares in the last quarter. Institutional investors own 80.83% of the company’s stock.
Shares of Standard Motor Products, Inc. (NYSE:SMP) traded down 0.79% on Friday, hitting $48.67. 270,209 shares of the stock traded hands. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 17.66 and a beta of 1.81. Standard Motor Products, Inc. has a 12-month low of $36.51 and a 12-month high of $55.37. The stock has a 50-day moving average price of $49.50 and a 200 day moving average price of $50.10.
Standard Motor Products (NYSE:SMP) last announced its quarterly earnings data on Thursday, May 4th. The auto parts company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.09. The business had revenue of $282.38 million for the quarter. Standard Motor Products had a net margin of 5.54% and a return on equity of 15.04%. The company’s revenue was up 18.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.55 EPS. On average, analysts anticipate that Standard Motor Products, Inc. will post $3.22 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Stockholders of record on Monday, May 15th will be paid a $0.19 dividend. The ex-dividend date is Thursday, May 11th. This represents a $0.76 annualized dividend and a dividend yield of 1.55%. Standard Motor Products’s payout ratio is 30.52%.
WARNING: “Standard Motor Products, Inc. (SMP) Shares Sold by Eagle Asset Management Inc.” was reported by Mideast Time and is the property of of Mideast Time. If you are accessing this piece on another website, it was illegally copied and republished in violation of U.S. and international trademark & copyright law. The legal version of this piece can be read at https://www.mideasttime.com/standard-motor-products-inc-smp-shares-sold-by-eagle-asset-management-inc/1707986.html.
SMP has been the subject of several analyst reports. Zacks Investment Research downgraded shares of Standard Motor Products from a “hold” rating to a “sell” rating in a research note on Tuesday, January 31st. FBR & Co upped their target price on shares of Standard Motor Products from $40.00 to $48.00 and gave the company a “mkt perform” rating in a research note on Friday, February 17th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $56.00 target price on shares of Standard Motor Products in a research note on Wednesday, May 3rd.
In other Standard Motor Products news, Director Arthur S. Sills sold 10,000 shares of Standard Motor Products stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $50.34, for a total transaction of $503,400.00. Following the sale, the director now owns 351,010 shares in the company, valued at $17,669,843.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Thomas Tesoro sold 1,000 shares of Standard Motor Products stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $48.83, for a total transaction of $48,830.00. Following the sale, the vice president now owns 32,976 shares in the company, valued at approximately $1,610,218.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,200 shares of company stock worth $562,236. 6.50% of the stock is currently owned by corporate insiders.
Standard Motor Products Company Profile
Standard Motor Products, Inc is an independent manufacturer and distributor of replacement parts for motor vehicles in the automotive aftermarket industry with a complementary focus on heavy duty, industrial equipment and the original equipment service market. The Company’s segments include Engine Management Segment and Temperature Control Segment.
Want to see what other hedge funds are holding SMP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Standard Motor Products, Inc. (NYSE:SMP).
Receive News & Ratings for Standard Motor Products Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Standard Motor Products Inc. and related companies with MarketBeat.com's FREE daily email newsletter.