Standard Motor Products Inc. (SMP) Insider Lawrence I. Sills Sells 1,150 Shares
Standard Motor Products Inc. (NYSE:SMP) insider Lawrence I. Sills sold 1,150 shares of the company’s stock in a transaction that occurred on Monday, October 10th. The shares were sold at an average price of $47.03, for a total value of $54,084.50. Following the completion of the sale, the insider now directly owns 742,921 shares in the company, valued at approximately $34,939,574.63. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Shares of Standard Motor Products Inc. (NYSE:SMP) opened at 48.11 on Thursday. The firm has a market capitalization of $1.09 billion, a P/E ratio of 20.15 and a beta of 1.77. The stock’s 50 day moving average price is $46.06 and its 200-day moving average price is $40.35. Standard Motor Products Inc. has a 12-month low of $29.69 and a 12-month high of $48.37.
Standard Motor Products (NYSE:SMP) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.88 EPS for the quarter, beating the Zacks’ 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 business had revenue of $289 million for the quarter, compared to analyst estimates of $277.37 million. During the same quarter last year, the business earned $0.59 earnings per share. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities analysts expect that Standard Motor Products Inc. will post $2.83 EPS for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. PineBridge Investments L.P. raised its position 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 worth $100,000 after buying an additional 187 shares in the last quarter. Teacher Retirement System of Texas raised 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 worth $113,000 after buying an additional 341 shares in the last quarter. Creative Planning raised 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 worth $122,000 after buying an additional 337 shares in the last quarter. BlackRock Inc. raised 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 worth $150,000 after buying an additional 2,579 shares in the last quarter. Finally, Mason Street Advisors LLC bought a new position in Standard Motor Products during the second quarter worth approximately $154,000. Institutional investors and hedge funds own 80.04% of the company’s stock.
Several brokerages have weighed in on SMP. Zacks Investment Research upgraded Standard Motor Products from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a report on Wednesday, June 15th. FBR & Co boosted their price target 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. Finally, Jefferies Group boosted their price target on Standard Motor Products from $45.00 to $50.00 and gave the company a “buy” 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 stock. Standard Motor Products has an average rating of “Buy” and an average price target of $45.00.
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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