Peter J. Sills Sells 2,271 Shares of Standard Motor Products Inc. (SMP) Stock
Standard Motor Products Inc. (NYSE:SMP) insider Peter J. Sills sold 2,271 shares of the firm’s stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $47.85, for a total value of $108,667.35. The transaction 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) opened at 49.67 on Friday. Standard Motor Products Inc. has a 1-year low of $29.69 and a 1-year high of $50.07. The company has a market cap of $1.13 billion, a price-to-earnings ratio of 19.95 and a beta of 1.74. The firm’s 50-day moving average price is $47.51 and its 200-day moving average price is $42.33.
Standard Motor Products (NYSE:SMP) last issued its quarterly earnings data on Thursday, October 27th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.01. The firm earned $300.80 million during the quarter, compared to analyst estimates of $300.67 million. Standard Motor Products had a return on equity of 15.04% and a net margin of 5.54%. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.80 EPS. Equities research analysts forecast that Standard Motor Products Inc. will post $2.87 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Tuesday, November 15th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend is Thursday, November 10th. Standard Motor Products’s dividend payout ratio is currently 27.31%.
A number of research firms have recently issued reports on SMP. Jefferies Group raised their price objective on Standard Motor Products from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. Zacks Investment Research raised Standard Motor Products from a “hold” rating to a “strong-buy” rating and set a $50.00 price target for the company in a report on Friday, August 5th. Finally, FBR & Co lifted their price target on Standard Motor Products from $38.00 to $40.00 and gave the stock a “mkt perform” rating in a report on Thursday, August 4th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $48.75.
Hedge funds have recently modified their holdings of the company. Citadel Advisors LLC acquired a new position in Standard Motor Products during the third quarter valued at about $1,186,000. Principal Financial Group Inc. raised its position in Standard Motor Products by 4.1% in the third quarter. Principal Financial Group Inc. now owns 151,764 shares of the company’s stock valued at $7,248,000 after buying an additional 5,915 shares in the last quarter. Northern Trust Corp raised its position in Standard Motor Products by 7.3% in the third quarter. Northern Trust Corp now owns 732,771 shares of the company’s stock valued at $34,997,000 after buying an additional 49,848 shares in the last quarter. California State Teachers Retirement System raised its position in Standard Motor Products by 0.9% in the third quarter. California State Teachers Retirement System now owns 45,445 shares of the company’s stock valued at $2,170,000 after buying an additional 400 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Standard Motor Products during the third quarter valued at about $121,000. 80.99% of the stock is owned by hedge funds and other institutional investors.
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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