Lawrence I. Sills Acquires 5,000 Shares of Standard Motor Products, Inc. (NYSE:SMP) Stock

Standard Motor Products, Inc. (NYSE:SMPGet Rating) Director Lawrence I. Sills acquired 5,000 shares of the stock in a transaction dated Monday, May 16th. The shares were bought at an average cost of $38.45 per share, for a total transaction of $192,250.00. Following the completion of the transaction, the director now owns 670,353 shares in the company, valued at $25,775,072.85. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of NYSE SMP opened at $40.78 on Wednesday. The stock has a market capitalization of $890.23 million, a P/E ratio of 10.27 and a beta of 0.46. Standard Motor Products, Inc. has a 1-year low of $37.69 and a 1-year high of $55.09. The business has a fifty day moving average price of $42.70 and a 200 day moving average price of $47.31.

Standard Motor Products (NYSE:SMPGet Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The auto parts company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.21. The business had revenue of $322.80 million for the quarter, compared to analyst estimates 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 period in the prior year, the company earned $0.97 earnings per share. Analysts predict that Standard Motor Products, Inc. will post 4.51 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 1st. Shareholders of record on Monday, May 16th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, May 13th. This represents a $1.08 dividend on an annualized basis and a yield of 2.65%. Standard Motor Products’s dividend payout ratio is currently 27.20%.

Several analysts recently issued reports on the company. StockNews.com raised Standard Motor Products from a “hold” rating to a “buy” rating in a research note on Tuesday. Zacks Investment Research downgraded Standard Motor Products from a “buy” rating to a “hold” rating and set a $50.00 target price on the stock. in a research report on Tuesday, February 1st.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Panagora Asset Management Inc. increased its holdings in shares of Standard Motor Products by 0.4% in the fourth quarter. Panagora Asset Management Inc. now owns 55,565 shares of the auto parts company’s stock valued at $2,911,000 after purchasing an additional 236 shares during the last quarter. O Shares Investment Advisers LLC grew its stake in shares of Standard Motor Products by 2.3% in the fourth quarter. O Shares Investment Advisers LLC now owns 14,810 shares of the auto parts company’s stock valued at $776,000 after buying an additional 336 shares in the last quarter. Investment Management of Virginia LLC boosted its holdings in Standard Motor Products by 1.6% in the first quarter. Investment Management of Virginia LLC now owns 22,000 shares of the auto parts company’s stock valued at $949,000 after purchasing an additional 355 shares during the period. Citigroup Inc. boosted its holdings in Standard Motor Products by 3.7% in the third quarter. Citigroup Inc. now owns 11,846 shares of the auto parts company’s stock valued at $518,000 after purchasing an additional 422 shares during the period. Finally, Walleye Capital LLC lifted its holdings in Standard Motor Products by 7.8% during the 1st quarter. Walleye Capital LLC now owns 6,885 shares of the auto parts company’s stock worth $297,000 after buying an additional 497 shares during the last quarter. Institutional investors and hedge funds own 76.54% of the company’s stock.

Standard Motor Products Company Profile (Get Rating)

Standard Motor Products, Inc manufactures and distributes replacement parts for motor vehicles in the automotive aftermarket industry. It operates in two segments, Engine Management and Temperature Control. 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, BWD, Intermotor, OEM, TechSmart, GP Sorensen, Locksmart, Standard Motorcycle, and Blue Streak Race Wires brands.

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