Standard Motor Products Inc. (SMP) SVP Carmine Joseph Broccole Sells 650 Shares of Stock
Standard Motor Products Inc. (NYSE:SMP) SVP Carmine Joseph Broccole sold 650 shares of the company’s stock in a transaction dated Monday, October 10th. The stock was sold at an average price of $47.52, for a total transaction of $30,888.00. Following the sale, the senior vice president now directly owns 44,973 shares in the company, valued at $2,137,116.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Standard Motor Products Inc. (NYSE:SMP) opened at 48.11 on Thursday. 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 $1.09 billion, a price-to-earnings ratio of 20.15 and a beta of 1.77. The company has a 50-day moving average of $46.06 and a 200 day moving average of $40.35.
Standard Motor Products (NYSE:SMP) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.88 earnings per share for the quarter, topping 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 business earned $289 million during the quarter, compared to analysts’ expectations of $277.37 million. During the same quarter in the previous year, the company earned $0.59 EPS. The business’s revenue was up 7.3% on a year-over-year basis. On average, analysts anticipate that Standard Motor Products Inc. will post $2.83 EPS for the current year.
Several analysts have weighed in on the stock. Zacks Investment Research cut shares of Standard Motor Products from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 4th. FBR & Co increased their price target on shares of Standard Motor Products from $38.00 to $40.00 and gave the company a “mkt perform” rating in a research note on Thursday, August 4th. Finally, Jefferies Group increased their price target on shares of Standard Motor Products from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Standard Motor Products presently has an average rating of “Buy” and an average target price of $45.00.
A number of hedge funds have recently modified their holdings of SMP. Eagle Asset Management Inc. acquired a new stake in shares of Standard Motor Products during the third quarter valued at $9,024,000. Creative Planning boosted its position 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 valued at $122,000 after buying an additional 337 shares during the last quarter. Park National Corp OH purchased a new position in shares of Standard Motor Products during the third quarter valued at approximately $213,000. Macquarie Group Ltd. boosted its position in shares of Standard Motor Products by 3.2% in the second quarter. Macquarie Group Ltd. now owns 821,480 shares of the company’s stock valued at $32,678,000 after buying an additional 25,310 shares during the last quarter. Finally, Mason Street Advisors LLC purchased a new position in shares of Standard Motor Products during the second quarter valued at approximately $154,000. Institutional investors and hedge funds 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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