Insider Selling: Standard Motor Products Inc. (SMP) CEO Sells 990 Shares of Stock
Standard Motor Products Inc. (NYSE:SMP) CEO Eric Sills sold 990 shares of the stock in a transaction that occurred on Monday, October 10th. The shares were sold at an average price of $47.07, for a total transaction of $46,599.30. Following the transaction, the chief executive officer now owns 162,667 shares in the company, valued at $7,656,735.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Standard Motor Products Inc. (NYSE:SMP) opened at 47.26 on Wednesday. Standard Motor Products Inc. has a 52 week low of $29.69 and a 52 week high of $48.09. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 19.79 and a beta of 1.77. The company has a 50-day moving average price of $45.93 and a 200-day moving average price of $40.29.
Standard Motor Products (NYSE:SMP) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.88 EPS for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.15. Standard Motor Products had a return on equity of 14.75% and a net margin of 5.50%. The company had revenue of $289 million for the quarter, compared to analysts’ expectations of $277.37 million. During the same period in the previous year, the firm earned $0.59 EPS. The firm’s revenue was up 7.3% compared to the same quarter last year. Equities analysts anticipate that Standard Motor Products Inc. will post $2.83 EPS for the current year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of SMP. PineBridge Investments L.P. boosted its position in Standard Motor Products by 8.1% in the second quarter. PineBridge Investments L.P. now owns 2,504 shares of the company’s stock worth $100,000 after buying an additional 187 shares in the last quarter. Teacher Retirement System of Texas increased its stake in Standard Motor Products by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 2,838 shares of the company’s stock worth $113,000 after buying an additional 341 shares during the last quarter. BlackRock Inc. increased its stake in Standard Motor Products by 216.2% in the second quarter. BlackRock Inc. now owns 3,772 shares of the company’s stock worth $150,000 after buying an additional 2,579 shares during the last quarter. Mason Street Advisors LLC purchased a new stake in Standard Motor Products during the second quarter worth about $154,000. Finally, Krilogy Financial LLC increased its stake in Standard Motor Products by 0.5% in the second quarter. Krilogy Financial LLC now owns 4,180 shares of the company’s stock worth $166,000 after buying an additional 19 shares during the last quarter. 80.04% of the stock is currently owned by institutional investors.
A number of research analysts have commented on the stock. Zacks Investment Research cut shares of Standard Motor Products from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 4th. FBR & Co increased their price objective on 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 objective on 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 equities 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 a consensus rating of “Buy” and a consensus target price of $45.00.
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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