Standard Motor Products Inc. (SMP) Insider Sells $108,674.60 in Stock
Standard Motor Products Inc. (NYSE:SMP) insider Peter J. Sills sold 2,378 shares of the firm’s stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $45.70, for a total value of $108,674.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Standard Motor Products Inc. (NYSE:SMP) opened at 45.61 on Tuesday. The firm has a 50-day moving average price of $44.04 and a 200 day moving average price of $38.69. Standard Motor Products Inc. has a 52 week low of $29.69 and a 52 week high of $46.46. The company has a market cap of $1.04 billion, a P/E ratio of 19.10 and a beta of 1.66.
Standard Motor Products (NYSE:SMP) last released its earnings results on Wednesday, August 3rd. The company reported $0.88 EPS for the quarter, topping the Thomson Reuters’ 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 business had revenue of $289 million for the quarter, compared to the consensus estimate of $277.37 million. During the same period in the previous year, the company posted $0.59 earnings per share. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. Analysts expect that Standard Motor Products Inc. will post $2.83 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Monday, August 15th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend was Thursday, August 11th. Standard Motor Products’s dividend payout ratio (DPR) is 28.33%.
Large investors have recently added to or reduced their stakes in the company. PineBridge Investments L.P. increased its stake 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 valued at $100,000 after buying an additional 187 shares during the period. 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 valued at $113,000 after buying an additional 341 shares during the period. Envestnet Asset Management Inc. bought a new stake in Standard Motor Products during the first quarter valued at approximately $103,000. 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 valued at $150,000 after buying an additional 2,579 shares during the period. Finally, Mason Street Advisors LLC bought a new stake in Standard Motor Products during the second quarter valued at approximately $154,000. 80.28% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have recently issued reports on SMP. Zacks Investment Research raised Standard Motor Products from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a research report on Wednesday, June 15th. FBR & Co lifted their price objective on 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 lifted their price objective on Standard Motor Products from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, August 4th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus 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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