Credit Suisse AG trimmed its holdings in shares of Standard Motor Products, Inc. (NYSE:SMP) by 28.9% in the 3rd quarter, Holdings Channel reports. The firm owned 12,324 shares of the auto parts company’s stock after selling 4,999 shares during the quarter. Credit Suisse AG’s holdings in Standard Motor Products were worth $606,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in the company. US Bancorp DE raised its holdings in shares of Standard Motor Products by 121.9% in the second quarter. US Bancorp DE now owns 2,135 shares of the auto parts company’s stock valued at $104,000 after acquiring an additional 1,173 shares in the last quarter. Bruderman Asset Management LLC bought a new stake in shares of Standard Motor Products in the second quarter valued at about $125,000. SG Americas Securities LLC bought a new stake in shares of Standard Motor Products in the second quarter valued at about $354,000. BlueMountain Capital Management LLC raised its holdings in shares of Standard Motor Products by 56.3% in the second quarter. BlueMountain Capital Management LLC now owns 16,623 shares of the auto parts company’s stock valued at $804,000 after acquiring an additional 5,985 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Standard Motor Products by 88.9% in the second quarter. Bank of America Corp DE now owns 18,674 shares of the auto parts company’s stock valued at $903,000 after acquiring an additional 8,788 shares in the last quarter. Institutional investors and hedge funds own 81.69% of the company’s stock.
In other news, SVP Carmine Joseph Broccole sold 825 shares of the business’s stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $44.07, for a total transaction of $36,357.75. Following the sale, the senior vice president now owns 55,231 shares in the company, valued at $2,434,030.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Eric Sills sold 1,015 shares of the business’s stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $43.60, for a total value of $44,254.00. Following the sale, the chief executive officer now owns 167,648 shares in the company, valued at approximately $7,309,452.80. The disclosure for this sale can be found here. Insiders sold 4,215 shares of company stock valued at $184,786 over the last quarter. 6.40% of the stock is currently owned by corporate insiders.
Shares of Standard Motor Products stock opened at $51.00 on Friday. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of 18.02, a PEG ratio of 2.52 and a beta of 1.22. Standard Motor Products, Inc. has a one year low of $42.50 and a one year high of $56.54.
Standard Motor Products (NYSE:SMP) last announced its earnings results on Friday, October 26th. The auto parts company reported $0.83 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.83. The business had revenue of $296.62 million during the quarter. Standard Motor Products had a net margin of 2.86% and a return on equity of 12.78%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.74 earnings per share. On average, equities analysts predict that Standard Motor Products, Inc. will post 2.64 EPS for the current fiscal year.
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Standard Motor Products Profile
Standard Motor Products, Inc manufactures and distributes replacement parts for motor vehicles in the automotive aftermarket industry. Its Engine Management segment manufactures and distributes engine management replacement parts, including electronic ignition control modules, fuel injectors, remanufactured diesel injectors and pumps, ignition wires, coils, switches, relays, EGR valves, distributor caps and rotors, various sensors primarily measuring temperature, vehicle systems, electronic throttle bodies, and other engine management components primarily under the Standard, Blue Streak, BWD, Select, Intermotor, OEM, LockSmart, TechSmart, Tech Expert, and GP Sorensen brands.
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