Trade Report: Today: Standard Motor Products Inc. (SMP) Director Sold $765,150.00 in Stock

Today: Standard Motor Products Inc. (SMP) Director Sold $765,150.00 in Stock

Standard Motor Products Inc. (NYSE:SMP) Director Peter J. Sills sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, November 28th. The stock was sold at an average price of $51.01, for a total transaction of $765,150.00. Following the sale, the director now directly owns 376,001 shares in the company, valued at $19,179,811.01. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Shares of Standard Motor Products Inc. (NYSE:SMP) traded down 1.30% on Monday, hitting $50.83. 133,007 shares of the stock traded hands. The firm’s 50-day moving average is $48.54 and its 200 day moving average is $43.42. Standard Motor Products Inc. has a 12-month low of $29.69 and a 12-month high of $51.76. The firm has a market cap of $1.16 billion, a P/E ratio of 20.41 and a beta of 1.74.

Standard Motor Products (NYSE:SMP) last posted its quarterly earnings results on Thursday, October 27th. The company reported $0.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.01. Standard Motor Products had a net margin of 5.54% and a return on equity of 15.04%. The firm had revenue of $300.80 million for the quarter, compared to analyst estimates of $300.67 million. During the same quarter last year, the firm posted $0.80 earnings per share. Standard Motor Products’s revenue for the quarter was up 11.4% compared to the same quarter last year. Equities research analysts forecast that Standard Motor Products Inc. will post $2.87 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Tuesday, November 15th will be issued a $0.17 dividend. The ex-dividend date is Thursday, November 10th. This represents a $0.68 annualized dividend and a yield of 1.32%. Standard Motor Products’s payout ratio is 27.31%.

SMP has been the subject of several analyst reports. Jefferies Group reiterated a “buy” rating and set a $56.00 price target on shares of Standard Motor Products in a report on Wednesday, October 19th. Zacks Investment Research upgraded shares of Standard Motor Products from a “hold” rating to a “strong-buy” rating and set a $55.00 price target for the company in a report on Wednesday, October 19th. Finally, FBR & Co boosted their price target on shares of Standard Motor Products from $38.00 to $40.00 and gave the stock a “mkt perform” rating in a report on Thursday, August 4th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $48.75.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. raised its position in Standard Motor Products by 7.6% in the second quarter. Principal Financial Group Inc. now owns 145,849 shares of the company’s stock valued at $5,802,000 after buying an additional 10,299 shares during the last quarter. Wellington Management Group LLP raised its stake in Standard Motor Products by 3.8% in the first quarter. Wellington Management Group LLP now owns 594,982 shares of the company’s stock worth $20,615,000 after buying an additional 21,887 shares in the last quarter. 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 in the last quarter. Monarch Partners Asset Management LLC raised its stake in Standard Motor Products by 2.7% in the second quarter. Monarch Partners Asset Management LLC now owns 6,581 shares of the company’s stock worth $262,000 after buying an additional 170 shares in the last quarter. Finally, First Midwest Bank Trust Division raised its stake in Standard Motor Products by 47.2% in the second quarter. First Midwest Bank Trust Division now owns 10,671 shares of the company’s stock worth $424,000 after buying an additional 3,424 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

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