Insider Selling: Standard Motor Products Inc. (SMP) Director Sells 2,314 Shares of Stock
Standard Motor Products Inc. (NYSE:SMP) Director Peter J. Sills sold 2,314 shares of the stock in a transaction that occurred on Tuesday, October 11th. The shares were sold at an average price of $46.99, for a total value of $108,734.86. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Shares of Standard Motor Products Inc. (NYSE:SMP) traded up 1.80% during trading on Wednesday, hitting $48.11. The stock had a trading volume of 95,345 shares. Standard Motor Products Inc. has a 12-month low of $29.69 and a 12-month high of $48.37. The stock has a market capitalization of $1.09 billion, a P/E ratio of 20.15 and a beta of 1.77. The stock’s 50-day moving average is $46.06 and its 200-day moving average is $40.35.
Standard Motor Products (NYSE:SMP) last released its earnings results on Wednesday, August 3rd. The company reported $0.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.15. Standard Motor Products had a net margin of 5.50% and a return on equity of 14.75%. The firm had revenue of $289 million for the quarter, compared to analyst estimates of $277.37 million. During the same period in the prior year, the firm earned $0.59 earnings per share. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. Analysts predict that Standard Motor Products Inc. will post $2.83 EPS for the current fiscal year.
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Hedge funds have recently added to or reduced their stakes in the company. Monarch Partners Asset Management LLC raised its stake in Standard Motor Products by 2.7% in the second quarter. Monarch Partners Asset Management LLC now owns 6,581 shares of the company’s stock worth $262,000 after buying an additional 170 shares during the last quarter. First Midwest Bank Trust Division raised its stake in Standard Motor Products by 47.2% in the second quarter. First Midwest Bank Trust Division now owns 10,671 shares of the company’s stock worth $424,000 after buying an additional 3,424 shares during the last quarter. Capstone Asset Management Co. raised its stake in Standard Motor Products by 1.9% in the second quarter. Capstone Asset Management Co. now owns 5,950 shares of the company’s stock worth $237,000 after buying an additional 110 shares during the last quarter. Curbstone Financial Management Corp raised its stake in Standard Motor Products by 4.4% in the second quarter. Curbstone Financial Management Corp now owns 16,552 shares of the company’s stock worth $658,000 after buying an additional 700 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its stake in Standard Motor Products by 96.0% in the second quarter. BNP Paribas Arbitrage SA now owns 6,504 shares of the company’s stock worth $259,000 after buying an additional 3,185 shares during the last quarter. Hedge funds and other institutional investors own 80.04% of the company’s stock.
A number of brokerages have commented on SMP. Zacks Investment Research downgraded Standard Motor Products from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 4th. FBR & Co raised their price objective on Standard Motor Products from $38.00 to $40.00 and gave the stock a “mkt perform” rating in a research report on Thursday, August 4th. Finally, Jefferies Group raised their price objective on Standard Motor Products from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, August 4th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Standard Motor Products has an average rating of “Buy” and an average target price of $45.00.
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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