Insider Selling: Standard Motor Products, Inc. (SMP) Insider Sells 2,500 Shares of Stock
Standard Motor Products, Inc. (NYSE:SMP) insider Peter J. Sills sold 2,500 shares of the firm’s stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $47.14, for a total transaction of $117,850.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Standard Motor Products, Inc. (NYSE SMP) traded up 0.542% during mid-day trading on Tuesday, hitting $47.295. 46,696 shares of the stock were exchanged. Standard Motor Products, Inc. has a 52 week low of $43.29 and a 52 week high of $55.37. The stock’s 50-day moving average is $47.14 and its 200 day moving average is $48.68. The company has a market capitalization of $1.08 billion, a PE ratio of 17.628 and a beta of 1.80.
Standard Motor Products (NYSE:SMP) last issued its quarterly earnings results on Monday, July 31st. The auto parts company reported $0.81 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.99 by ($0.18). The company had revenue of $312.73 million during the quarter. Standard Motor Products had a return on equity of 14.83% and a net margin of 5.55%. The business’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.88 earnings per share. On average, analysts anticipate that Standard Motor Products, Inc. will post $2.87 EPS for the current year.
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A number of analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Standard Motor Products from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. BidaskClub cut shares of Standard Motor Products from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. Jefferies Group LLC restated a “buy” rating on shares of Standard Motor Products in a research note on Friday, July 7th. Finally, ValuEngine cut shares of Standard Motor Products from a “buy” rating to a “hold” rating in a research note on Thursday, August 31st. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $54.00.
Large investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. purchased a new position in shares of Standard Motor Products in the 1st quarter worth about $152,000. NN Investment Partners Holdings N.V. purchased a new position in shares of Standard Motor Products in the 2nd quarter worth about $186,000. State of Alaska Department of Revenue boosted its holdings in shares of Standard Motor Products by 78.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,962 shares of the auto parts company’s stock worth $206,000 after buying an additional 1,742 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Standard Motor Products by 119.1% in the 1st quarter. Victory Capital Management Inc. now owns 4,125 shares of the auto parts company’s stock worth $203,000 after buying an additional 2,242 shares during the last quarter. Finally, Piedmont Investment Advisors LLC purchased a new position in shares of Standard Motor Products in the 2nd quarter worth about $227,000. 78.41% of the stock is currently owned by institutional investors.
About Standard Motor Products
Standard Motor Products, Inc is an independent manufacturer and distributor of replacement parts for motor vehicles in the automotive aftermarket industry with a complementary focus on heavy duty, industrial equipment and the original equipment service market. The Company’s segments include Engine Management Segment and Temperature Control Segment.
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