Insider Selling: Standard Motor Products Inc. (SMP) SVP Sells 650 Shares of Stock
Standard Motor Products Inc. (NYSE:SMP) SVP Carmine Joseph Broccole sold 650 shares of the business’s stock in a transaction on Monday, October 10th. The stock was sold at an average price of $47.52, for a total transaction of $30,888.00. Following the transaction, the senior vice president now directly owns 44,973 shares of the company’s stock, valued at approximately $2,137,116.96. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Shares of Standard Motor Products Inc. (NYSE:SMP) opened at 47.26 on Wednesday. The company has a 50-day moving average of $45.93 and a 200-day moving average of $40.29. The company has a market cap of $1.07 billion, a PE ratio of 19.79 and a beta of 1.77. Standard Motor Products Inc. has a 1-year low of $29.69 and a 1-year high of $48.09.
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, beating analysts’ consensus estimates of $0.73 by $0.15. The business earned $289 million during the quarter, compared to the consensus estimate of $277.37 million. Standard Motor Products had a net margin of 5.50% and a return on equity of 14.75%. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.59 earnings per share. Equities analysts forecast that Standard Motor Products Inc. will post $2.83 EPS for the current year.
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A number of research analysts have weighed in on SMP shares. Zacks Investment Research lowered shares of Standard Motor Products from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 4th. FBR & Co boosted their price objective on shares of Standard Motor Products from $38.00 to $40.00 and gave the stock a “mkt perform” rating in a report on Thursday, August 4th. Finally, Jefferies Group boosted their price objective on shares of Standard Motor Products from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, August 4th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Standard Motor Products currently has an average rating of “Buy” and an average target price of $45.00.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Monarch Partners Asset Management LLC increased its position 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 period. First Midwest Bank Trust Division increased its position 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 period. Capstone Asset Management Co. increased its position 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 period. Curbstone Financial Management Corp increased its position 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 period. Finally, BNP Paribas Arbitrage SA increased its position 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 period. 80.04% of the stock is 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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