Standard Motor Products, Inc. (NYSE:SMP) Director Peter J. Sills sold 30,000 shares of the firm’s stock in a transaction on Wednesday, June 9th. The shares were sold at an average price of $47.25, for a total value of $1,417,500.00.
SMP stock opened at $47.07 on Friday. The company has a market cap of $1.04 billion, a P/E ratio of 15.38 and a beta of 0.40. Standard Motor Products, Inc. has a fifty-two week low of $37.65 and a fifty-two week high of $55.29. The business’s fifty day moving average price is $44.68.
Standard Motor Products (NYSE:SMP) last posted its quarterly earnings results on Wednesday, May 5th. The auto parts company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.43. The company had revenue of $276.60 million during the quarter, compared to the consensus estimate of $257.57 million. Standard Motor Products had a return on equity of 17.54% and a net margin of 6.06%. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.43 EPS. On average, sell-side analysts predict that Standard Motor Products, Inc. will post 3.28 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company boosted its stake in Standard Motor Products by 3.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 12,330 shares of the auto parts company’s stock worth $499,000 after purchasing an additional 450 shares during the period. Verdence Capital Advisors LLC boosted its stake in Standard Motor Products by 12.4% in the 1st quarter. Verdence Capital Advisors LLC now owns 5,756 shares of the auto parts company’s stock worth $239,000 after purchasing an additional 636 shares during the period. Swiss National Bank boosted its stake in Standard Motor Products by 1.5% in the 1st quarter. Swiss National Bank now owns 46,200 shares of the auto parts company’s stock worth $1,921,000 after purchasing an additional 700 shares during the period. Vantage Consulting Group Inc bought a new position in Standard Motor Products in the 4th quarter worth about $39,000. Finally, Federated Hermes Inc. boosted its stake in Standard Motor Products by 122.9% in the 1st quarter. Federated Hermes Inc. now owns 1,799 shares of the auto parts company’s stock worth $75,000 after purchasing an additional 992 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.
Several brokerages have recently issued reports on SMP. Zacks Investment Research raised Standard Motor Products from a “hold” rating to a “strong-buy” rating and set a $55.00 target price for the company in a research report on Monday, May 10th. TheStreet upgraded Standard Motor Products from a “c+” rating to a “b” rating in a research note on Friday, March 19th.
About Standard Motor Products
Standard Motor Products, Inc manufactures and distributes replacement parts for motor vehicles in the automotive aftermarket industry. The Engine Management segment offers components for the ignition, electrical, emissions, fuel and safety-related systems of motor vehicles under the Standard, SMP Blue Streak, Intermotor, Standard Diesel, BWD Select, BWD, OEM, TechSmart, Tech Expert, GP Sorensen, LockSmart, and Pollak brand names, as well as under private labels comprising NAPA Echlin and NAPA Belden.
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