Insider Selling: Standard Motor Products Inc. (SMP) Insider Sells 2,394 Shares of Stock
Standard Motor Products Inc. (NYSE:SMP) insider Peter J. Sills sold 2,394 shares of the company’s stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $45.41, for a total value of $108,711.54. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Shares of Standard Motor Products Inc. (NYSE:SMP) opened at 46.08 on Thursday. Standard Motor Products Inc. has a 12-month low of $29.69 and a 12-month high of $46.46. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 19.30 and a beta of 1.66. The firm has a 50-day moving average price of $44.25 and a 200 day moving average price of $38.84.
Standard Motor Products (NYSE:SMP) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.15. The business had revenue of $289 million for the quarter, compared to the consensus estimate of $277.37 million. Standard Motor Products had a return on equity of 14.75% and a net margin of 5.50%. The business’s revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the business posted $0.59 EPS. On average, equities research analysts anticipate that Standard Motor Products Inc. will post $2.83 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Monday, August 15th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend was Thursday, August 11th. Standard Motor Products’s dividend payout ratio (DPR) is 28.33%.
A number of brokerages recently weighed in on SMP. Zacks Investment Research raised Standard Motor Products from a “hold” rating to a “strong-buy” rating and set a $50.00 price objective on the stock in a report on Friday, August 5th. Jefferies Group upped their price objective on Standard Motor Products from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, August 4th. Finally, FBR & Co upped their price objective 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. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $45.00.
Several hedge funds have recently made changes to their positions in SMP. Curbstone Financial Management Corp increased its stake in shares of Standard Motor Products by 4.4% in the second quarter. Curbstone Financial Management Corp now owns 16,552 shares of the company’s stock valued at $658,000 after buying an additional 700 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of Standard Motor Products by 96.0% in the second quarter. BNP Paribas Arbitrage SA now owns 6,504 shares of the company’s stock valued at $259,000 after buying an additional 3,185 shares during the period. Arizona State Retirement System increased its stake in shares of Standard Motor Products by 3.1% in the first quarter. Arizona State Retirement System now owns 10,098 shares of the company’s stock valued at $350,000 after buying an additional 300 shares during the period. Envestnet Asset Management Inc. bought a new stake in shares of Standard Motor Products during the first quarter valued at about $103,000. Finally, Wellington Management Group LLP increased its stake in shares of Standard Motor Products by 3.8% in the first quarter. Wellington Management Group LLP now owns 594,982 shares of the company’s stock valued at $20,615,000 after buying an additional 21,887 shares during the period. 80.02% of the stock is currently owned by institutional investors and hedge funds.
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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