Standard Motor Products Inc. (NYSE:SMP) CEO Eric Sills sold 990 shares of the firm’s stock in a transaction on Monday, October 10th. The stock was sold at an average price of $47.07, for a total value of $46,599.30. Following the sale, the chief executive officer now directly owns 162,667 shares of the company’s stock, valued at approximately $7,656,735.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Standard Motor Products Inc. (NYSE:SMP) opened at 48.11 on Thursday. Standard Motor Products Inc. has a 52 week low of $29.69 and a 52 week high of $48.37. The firm has a market capitalization of $1.09 billion, a PE ratio of 20.15 and a beta of 1.77. The stock has a 50 day moving average price of $46.06 and a 200-day moving average price of $40.35.
Standard Motor Products (NYSE:SMP) last posted its earnings results on Wednesday, August 3rd. The company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $289 million for the quarter, compared to analyst estimates of $277.37 million. During the same quarter in the prior year, the company earned $0.59 EPS. Standard Motor Products’s revenue was up 7.3% on a year-over-year basis. Equities analysts anticipate that Standard Motor Products Inc. will post $2.83 earnings per share for the current year.
A number of large investors have recently bought and sold shares of SMP. PineBridge Investments L.P. raised 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 worth $100,000 after buying an additional 187 shares during the last quarter. Creative Planning raised its position in shares of Standard Motor Products by 15.2% in the third quarter. Creative Planning now owns 2,550 shares of the company’s stock worth $122,000 after buying an additional 337 shares in the last quarter. Teacher Retirement System of Texas raised its position in shares of 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 worth $113,000 after buying an additional 341 shares in the last quarter. BlackRock Inc. raised its position in shares of Standard Motor Products by 216.2% in the second quarter. BlackRock Inc. now owns 3,772 shares of the company’s stock worth $150,000 after buying an additional 2,579 shares in the last quarter. Finally, Mason Street Advisors LLC acquired a new position in shares of Standard Motor Products during the second quarter worth $154,000. 80.04% of the stock is currently owned by hedge funds and other institutional investors.
SMP has been the subject of several recent analyst reports. Jefferies Group raised their target price 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. Zacks Investment Research cut Standard Motor Products from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 4th. Finally, FBR & Co raised their target price 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. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $45.00.
Standard Motor Products Company Profile