Standard Motor Products Inc. (SMP) EVP Sells $42,354.00 in Stock
Standard Motor Products Inc. (NYSE:SMP) EVP Dale Burks sold 900 shares of the firm’s stock in a transaction dated Monday, October 10th. The shares were sold at an average price of $47.06, for a total value of $42,354.00. Following the sale, the executive vice president now owns 42,452 shares of the company’s stock, valued at $1,997,791.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Standard Motor Products Inc. (NYSE:SMP) opened at 47.26 on Wednesday. The firm 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 one year low of $29.69 and a one 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, topping the Zacks’ consensus estimate of $0.73 by $0.15. The firm earned $289 million during the quarter, compared to analyst estimates of $277.37 million. Standard Motor Products had a net margin of 5.50% and a return on equity of 14.75%. The business’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.59 EPS. On average, analysts predict that Standard Motor Products Inc. will post $2.83 EPS for the current year.
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SMP has been the subject of several recent analyst reports. Zacks Investment Research upgraded Standard Motor Products from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a research note on Wednesday, June 15th. FBR & Co lifted their price target on Standard Motor Products from $38.00 to $40.00 and gave the stock a “mkt perform” rating in a research note on Thursday, August 4th. Finally, Jefferies Group lifted their price target on Standard Motor Products from $45.00 to $50.00 and gave the stock 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 issued a buy rating to the stock. Standard Motor Products has a consensus 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 company. Ifrah Financial Services Inc. raised its position in Standard Motor Products by 0.3% in the second quarter. Ifrah Financial Services Inc. now owns 5,898 shares of the company’s stock worth $235,000 after buying an additional 15 shares in the last quarter. Krilogy Financial LLC raised its position 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 in the last quarter. Suntrust Banks Inc. raised its position in Standard Motor Products by 1.1% in the second quarter. Suntrust Banks Inc. now owns 6,243 shares of the company’s stock worth $248,000 after buying an additional 70 shares in the last quarter. Capstone Asset Management Co. raised 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 in the last quarter. Finally, Monarch Partners Asset Management LLC raised 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 in the last quarter. 80.04% of the stock is owned by hedge funds and other institutional investors.
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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