JPMorgan Chase & Co. decreased its holdings in shares of Standard Motor Products, Inc. (NYSE:SMP) by 25.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 61,403 shares of the auto parts company’s stock after selling 21,510 shares during the period. JPMorgan Chase & Co. owned approximately 0.27% of Standard Motor Products worth $3,207,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Envestnet Asset Management Inc. purchased a new stake in Standard Motor Products during the first quarter valued at about $152,000. NN Investment Partners Holdings N.V. purchased a new stake in Standard Motor Products during the second quarter valued at about $186,000. Victory Capital Management Inc. lifted its stake in Standard Motor Products by 119.1% during the first quarter. Victory Capital Management Inc. now owns 4,125 shares of the auto parts company’s stock valued at $203,000 after buying an additional 2,242 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in Standard Motor Products by 78.5% during the second quarter. State of Alaska Department of Revenue now owns 3,962 shares of the auto parts company’s stock valued at $206,000 after buying an additional 1,742 shares in the last quarter. Finally, Mason Street Advisors LLC lifted its stake in Standard Motor Products by 7.0% during the first quarter. Mason Street Advisors LLC now owns 4,699 shares of the auto parts company’s stock valued at $231,000 after buying an additional 308 shares in the last quarter. Institutional investors own 78.41% of the company’s stock.

In other news, SVP Carmine Joseph Broccole sold 1,123 shares of the business’s stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $48.18, for a total transaction of $54,106.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Eric Sills sold 1,060 shares of the business’s stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $48.59, for a total value of $51,505.40. The disclosure for this sale can be found here. Insiders have sold a total of 100,428 shares of company stock valued at $4,508,439 over the last 90 days. Corporate insiders own 6.60% of the company’s stock.

Shares of Standard Motor Products, Inc. (SMP) opened at 47.77 on Wednesday. Standard Motor Products, Inc. has a 1-year low of $43.29 and a 1-year high of $55.37. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 17.80 and a beta of 1.80. The firm’s 50-day moving average is $46.39 and its 200-day moving average is $48.75.

Standard Motor Products (NYSE:SMP) last posted its earnings results on Monday, July 31st. The auto parts company reported $0.81 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.99 by ($0.18). The company had revenue of $312.73 million for the quarter. Standard Motor Products had a return on equity of 14.83% and a net margin of 5.55%. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.88 EPS. On average, analysts predict that Standard Motor Products, Inc. will post $2.87 earnings per share for the current fiscal year.

A number of research firms have commented on SMP. Jefferies Group LLC reaffirmed a “buy” rating and set a $60.00 price objective on shares of Standard Motor Products in a research note on Wednesday, August 9th. BidaskClub lowered shares of Standard Motor Products from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. Zacks Investment Research lowered shares of Standard Motor Products from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Finally, ValuEngine lowered shares of Standard Motor Products from a “buy” rating to a “hold” rating in a research note on Thursday, August 31st. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Standard Motor Products currently has a consensus rating of “Hold” and a consensus target price of $54.00.

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About Standard Motor Products

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.

Institutional Ownership by Quarter for Standard Motor Products (NYSE:SMP)

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