Standard Motor Products, Inc. (NYSE:SMP – Get Rating) Director Peter J. Sills sold 5,650 shares of the firm’s stock in a transaction on Tuesday, June 28th. The stock was sold at an average price of $45.47, for a total value of $256,905.50. Following the sale, the director now directly owns 686,812 shares in the company, valued at approximately $31,229,341.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
SMP stock traded up $0.68 during trading hours on Thursday, reaching $44.99. 134,180 shares of the stock were exchanged, compared to its average volume of 105,626. The firm’s 50-day moving average is $41.15 and its 200-day moving average is $45.02. The company has a market cap of $982.13 million, a price-to-earnings ratio of 11.16 and a beta of 0.46. Standard Motor Products, Inc. has a 12 month low of $37.69 and a 12 month high of $55.09.
Standard Motor Products (NYSE:SMP – Get Rating) last released its earnings results on Tuesday, May 3rd. The auto parts company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.11. The firm had revenue of $322.80 million during the quarter, compared to analysts’ expectations of $304.30 million. Standard Motor Products had a return on equity of 16.31% and a net margin of 6.64%. The company’s revenue was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.97 EPS. Equities analysts expect that Standard Motor Products, Inc. will post 4.68 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 1st. Stockholders of record on Monday, May 16th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.40%. The ex-dividend date was Friday, May 13th. Standard Motor Products’s payout ratio is 27.20%.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Walleye Capital LLC grew its holdings in shares of Standard Motor Products by 7.8% in the 1st quarter. Walleye Capital LLC now owns 6,885 shares of the auto parts company’s stock valued at $297,000 after acquiring an additional 497 shares in the last quarter. Sawtooth Solutions LLC bought a new position in shares of Standard Motor Products in the 1st quarter valued at about $256,000. Zebra Capital Management LLC bought a new position in shares of Standard Motor Products in the 1st quarter valued at about $210,000. Lido Advisors LLC bought a new position in shares of Standard Motor Products in the 1st quarter valued at about $354,000. Finally, Royal Bank of Canada grew its holdings in shares of Standard Motor Products by 14.7% in the 1st quarter. Royal Bank of Canada now owns 18,027 shares of the auto parts company’s stock valued at $777,000 after acquiring an additional 2,312 shares in the last quarter. Institutional investors own 76.54% of the company’s stock.
A number of equities analysts have issued reports on SMP shares. StockNews.com upgraded Standard Motor Products from a “hold” rating to a “buy” rating in a report on Tuesday, May 17th. MKM Partners started coverage on Standard Motor Products in a report on Friday, June 10th. They set a “buy” rating and a $62.00 target price for the company.
About Standard Motor Products (Get Rating)
Standard Motor Products, Inc manufactures and distributes replacement parts that are used in the maintenance, repair, and service of vehicles in the automotive aftermarket industry with a complementary focus on specialized original equipment parts for manufacturers across agriculture, heavy duty, and construction equipment industries.
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