Standard Motor Products, Inc. (NYSE:SMP) Director Lawrence I. Sills Purchases 5,000 Shares

Standard Motor Products, Inc. (NYSE:SMPGet Rating) Director Lawrence I. Sills bought 5,000 shares of Standard Motor Products stock in a transaction dated Monday, May 16th. The shares were purchased 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 of the company’s stock, valued at approximately $25,775,072.85. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

SMP traded up $1.35 during trading on Tuesday, hitting $40.04. The company had a trading volume of 1,099 shares, compared to its average volume of 89,405. The company has a market cap of $874.07 million, a PE ratio of 9.75 and a beta of 0.46. The business has a 50-day moving average of $42.76 and a 200-day moving average of $47.36. Standard Motor Products, Inc. has a 1-year low of $37.69 and a 1-year high of $55.09.

Standard Motor Products (NYSE:SMPGet Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The auto parts company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.21. The firm had revenue of $322.80 million for the quarter, compared to analysts’ expectations of $304.30 million. Standard Motor Products had a net margin of 6.64% and a return on equity of 16.31%. The firm’s quarterly revenue was up 16.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.97 earnings per share. Sell-side analysts predict that Standard Motor Products, Inc. will post 4.51 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 1st. Shareholders of record on Monday, May 16th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, May 13th. This represents a $1.08 annualized dividend and a yield of 2.70%. Standard Motor Products’s payout ratio is 27.20%.

A number of research analysts have recently commented on the stock. StockNews.com raised shares of Standard Motor Products from a “hold” rating to a “buy” rating in a research report on Tuesday. Zacks Investment Research cut shares of 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.

A number of hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada increased its stake in Standard Motor Products by 14.7% during the first quarter. Royal Bank of Canada now owns 18,027 shares of the auto parts company’s stock valued at $777,000 after purchasing an additional 2,312 shares during the last quarter. Dean Capital Management grew its position in shares of Standard Motor Products by 15.5% during the first quarter. Dean Capital Management now owns 65,548 shares of the auto parts company’s stock worth $2,828,000 after acquiring an additional 8,802 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Standard Motor Products by 5.5% during the first quarter. Goldman Sachs Group Inc. now owns 61,805 shares of the auto parts company’s stock worth $2,666,000 after acquiring an additional 3,221 shares during the last quarter. Captrust Financial Advisors grew its position in shares of Standard Motor Products by 47.4% during the first quarter. Captrust Financial Advisors now owns 2,217 shares of the auto parts company’s stock worth $96,000 after acquiring an additional 713 shares during the last quarter. Finally, State Street Corp grew its position in shares of Standard Motor Products by 3.4% during the first quarter. State Street Corp now owns 796,001 shares of the auto parts company’s stock worth $34,339,000 after acquiring an additional 26,345 shares during the last quarter. Hedge funds and other institutional investors 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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