Citadel Advisors LLC Acquires 13,552 Shares of Standard Motor Products, Inc. (SMP)
Citadel Advisors LLC raised its holdings in Standard Motor Products, Inc. (NYSE:SMP) by 136.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 23,497 shares of the auto parts company’s stock after acquiring an additional 13,552 shares during the quarter. Citadel Advisors LLC owned about 0.10% of Standard Motor Products worth $1,227,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in SMP. Envestnet Asset Management Inc. acquired a new stake in Standard Motor Products in the first quarter worth $152,000. NN Investment Partners Holdings N.V. acquired a new stake in Standard Motor Products in the second quarter worth $186,000. Victory Capital Management Inc. raised its holdings in Standard Motor Products by 119.1% in the first quarter. Victory Capital Management Inc. now owns 4,125 shares of the auto parts company’s stock worth $203,000 after purchasing an additional 2,242 shares during the period. State of Alaska Department of Revenue raised its holdings in Standard Motor Products by 78.5% in the second quarter. State of Alaska Department of Revenue now owns 3,962 shares of the auto parts company’s stock worth $206,000 after purchasing an additional 1,742 shares during the period. Finally, Mason Street Advisors LLC raised its holdings in Standard Motor Products by 7.0% in the first quarter. Mason Street Advisors LLC now owns 4,699 shares of the auto parts company’s stock worth $231,000 after purchasing an additional 308 shares during the period. 78.40% of the stock is currently owned by hedge funds and other institutional investors.
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Several equities research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Standard Motor Products from a “hold” rating to a “sell” rating in a report on Friday, August 4th. BidaskClub lowered shares of Standard Motor Products from a “buy” rating to a “hold” rating in a report on Monday, August 7th. Jefferies Group LLC reiterated a “buy” rating on shares of Standard Motor Products in a report on Friday, July 7th. Finally, ValuEngine lowered shares of Standard Motor Products from a “buy” rating to a “hold” rating in a report on Thursday, August 31st. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $54.00.
Shares of Standard Motor Products, Inc. (NYSE:SMP) opened at 49.09 on Thursday. The firm has a 50-day moving average of $45.90 and a 200 day moving average of $48.75. Standard Motor Products, Inc. has a 12-month low of $43.29 and a 12-month high of $55.37. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 18.78 and a beta of 1.80.
Standard Motor Products (NYSE:SMP) last posted its quarterly earnings data on Monday, July 31st. The auto parts company reported $0.81 EPS for the quarter, missing the Zacks’ consensus estimate of $0.99 by ($0.18). Standard Motor Products had a net margin of 5.55% and a return on equity of 14.83%. The firm had revenue of $312.73 million during the quarter. During the same quarter in the prior year, the company posted $0.88 earnings per share. The business’s revenue was up 8.2% on a year-over-year basis. On average, equities research analysts expect that Standard Motor Products, Inc. will post $2.87 earnings per share for the current year.
In related news, insider Lawrence I. Sills sold 25,417 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $44.23, for a total transaction of $1,124,193.91. Following the transaction, the insider now directly owns 673,127 shares of the company’s stock, valued at $29,772,407.21. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Peter J. Sills sold 2,428 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $48.43, for a total transaction of $117,588.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 94,145 shares of company stock worth $4,205,024. Insiders own 6.60% of the company’s stock.
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.
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