Standard Motor Products, Inc. (NYSE:SMP) EVP Dale Burks sold 1,629 shares of the firm’s stock in a transaction dated Tuesday, October 12th. The stock was sold at an average price of $46.76, for a total value of $76,172.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of NYSE:SMP opened at $47.58 on Thursday. The company has a market cap of $1.06 billion, a P/E ratio of 12.59 and a beta of 0.39. Standard Motor Products, Inc. has a one year low of $39.09 and a one year high of $55.29. The business’s 50-day simple moving average is $43.53 and its 200 day simple moving average is $43.91.
Standard Motor Products (NYSE:SMP) last announced its earnings results on Wednesday, August 4th. The auto parts company reported $1.26 EPS for the quarter, beating the consensus estimate of $0.66 by $0.60. The business had revenue of $342.10 million for the quarter, compared to the consensus estimate of $270.70 million. Standard Motor Products had a return on equity of 19.85% and a net margin of 6.90%. The company’s revenue was up 38.0% on a year-over-year basis. During the same period last year, the business posted $0.52 EPS. Equities research analysts expect that Standard Motor Products, Inc. will post 3.89 EPS for the current year.
Several large investors have recently made changes to their positions in the stock. Denali Advisors LLC raised its holdings in shares of Standard Motor Products by 87.3% during the 3rd quarter. Denali Advisors LLC now owns 25,100 shares of the auto parts company’s stock valued at $1,097,000 after buying an additional 11,700 shares during the period. Louisiana State Employees Retirement System raised its holdings in shares of Standard Motor Products by 3.3% during the 3rd quarter. Louisiana State Employees Retirement System now owns 9,300 shares of the auto parts company’s stock valued at $407,000 after buying an additional 300 shares during the period. State of Alaska Department of Revenue raised its holdings in shares of Standard Motor Products by 2.1% during the 3rd quarter. State of Alaska Department of Revenue now owns 14,106 shares of the auto parts company’s stock valued at $616,000 after buying an additional 295 shares during the period. Parametric Portfolio Associates LLC increased its holdings in Standard Motor Products by 31.7% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 31,620 shares of the auto parts company’s stock worth $1,371,000 after purchasing an additional 7,605 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Standard Motor Products during the 2nd quarter worth approximately $701,000. Institutional investors and hedge funds own 76.82% of the company’s stock.
A number of research firms have recently commented on SMP. Zacks Investment Research downgraded Standard Motor Products from a “buy” rating to a “hold” rating and set a $44.00 price objective on the stock. in a report on Tuesday, August 3rd. TheStreet upgraded Standard Motor Products from a “c+” rating to a “b-” rating in a report on Friday, October 8th.
About Standard Motor Products
Standard Motor Products, Inc engages in the manufacture, distribution, and market of replacement parts for motor vehicles in the automotive aftermarket industry. It operates through the following segments: Engine Management and Temperature Control. The Engine Management segment produces and remanufactures ignition and emission parts, ignition wires, battery cables, fuel system parts and sensors for vehicle systems.
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