Insider Selling: Standard Motor Products, Inc. (SMP) Chairman Sells 2,215 Shares of Stock
Standard Motor Products, Inc. (NYSE:SMP) Chairman Lawrence I. Sills sold 2,215 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $46.42, for a total transaction of $102,820.30. Following the completion of the sale, the chairman now directly owns 664,612 shares of the company’s stock, valued at approximately $30,851,289.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
NYSE:SMP traded up $0.51 during trading hours on Friday, hitting $45.90. The stock had a trading volume of 67,299 shares, compared to its average volume of 79,312. Standard Motor Products, Inc. has a one year low of $43.08 and a one year high of $56.54. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.62 and a current ratio of 1.68. The company has a market capitalization of $1.04 billion, a PE ratio of 18.00, a PEG ratio of 1.43 and a beta of 1.04.
Standard Motor Products (NYSE:SMP) last issued its earnings results on Tuesday, April 30th. The auto parts company reported $0.57 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.03). Standard Motor Products had a net margin of 4.24% and a return on equity of 13.02%. The firm had revenue of $283.80 million during the quarter, compared to the consensus estimate of $278.13 million. During the same period in the previous year, the company posted $0.46 EPS. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, sell-side analysts forecast that Standard Motor Products, Inc. will post 2.94 earnings per share for the current year.
Large investors have recently modified their holdings of the business. Quantamental Technologies LLC bought a new stake in shares of Standard Motor Products during the fourth quarter worth $52,000. Cresset Asset Management LLC bought a new stake in shares of Standard Motor Products during the first quarter worth $52,000. Bank of Montreal Can increased its position in shares of Standard Motor Products by 18.0% during the first quarter. Bank of Montreal Can now owns 1,272 shares of the auto parts company’s stock worth $62,000 after acquiring an additional 194 shares in the last quarter. Investors Research Corp bought a new stake in shares of Standard Motor Products during the first quarter worth $74,000. Finally, PNC Financial Services Group Inc. increased its position in shares of Standard Motor Products by 14.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,581 shares of the auto parts company’s stock worth $125,000 after acquiring an additional 323 shares in the last quarter. 79.79% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have commented on SMP shares. Zacks Investment Research downgraded shares of Standard Motor Products from a “hold” rating to a “sell” rating in a research note on Tuesday, February 19th. ValuEngine downgraded shares of Standard Motor Products from a “buy” rating to a “hold” rating in a research note on Saturday, February 2nd.
Standard Motor Products Company Profile
Standard Motor Products, Inc manufactures and distributes replacement parts for motor vehicles in the automotive aftermarket industry. The company operates in two segments, Engine Management and Temperature Control. The Engine Management segment offers electronic ignition control modules, new and remanufactured fuel injectors, ignition wires, coils, switches, relays, EGR valves, distributor caps and rotors, sensors, electronic throttle bodies, keyless entry transmitters, safety-related components, and other engine management components.
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