Insider Selling: Standard Motor Products, Inc. (NYSE:SMP) Insider Sells 3,000 Shares of Stock

Standard Motor Products, Inc. (NYSE:SMPGet Rating) insider Thomas Tesoro sold 3,000 shares of the stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $38.07, for a total value of $114,210.00. Following the completion of the transaction, the insider now directly owns 15,883 shares of the company’s stock, valued at approximately $604,665.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Thomas Tesoro also recently made the following trade(s):

  • On Wednesday, March 2nd, Thomas Tesoro sold 3,500 shares of Standard Motor Products stock. The stock was sold at an average price of $44.00, for a total value of $154,000.00.

SMP stock traded down $0.10 during trading hours on Tuesday, hitting $38.24. 245 shares of the stock traded hands, compared to its average volume of 95,045. The stock has a 50-day simple moving average of $42.29 and a 200 day simple moving average of $46.98. Standard Motor Products, Inc. has a one year low of $37.69 and a one year high of $55.09. The company has a market cap of $834.78 million, a P/E ratio of 9.66 and a beta of 0.46.

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

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 1st. Investors 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 2.82%. Standard Motor Products’s dividend payout ratio is currently 27.20%.

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its holdings in shares of Standard Motor Products by 1.1% during the first quarter. BlackRock Inc. now owns 3,271,994 shares of the auto parts company’s stock valued at $141,153,000 after purchasing an additional 37,157 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Standard Motor Products by 2.8% during the first quarter. Vanguard Group Inc. now owns 1,385,563 shares of the auto parts company’s stock valued at $59,773,000 after purchasing an additional 37,724 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Standard Motor Products by 1.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,222,664 shares of the auto parts company’s stock valued at $52,747,000 after purchasing an additional 16,732 shares during the last quarter. William Blair Investment Management LLC lifted its holdings in shares of Standard Motor Products by 9.4% during the first quarter. William Blair Investment Management LLC now owns 1,102,035 shares of the auto parts company’s stock valued at $47,542,000 after purchasing an additional 95,078 shares during the last quarter. Finally, State Street Corp lifted its holdings 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 valued at $34,339,000 after purchasing an additional 26,345 shares during the last quarter. 76.54% of the stock is owned by institutional investors and hedge funds.

Several research analysts have recently issued reports on SMP shares. Zacks Investment Research cut Standard Motor Products from a “buy” rating to a “hold” rating and set a $50.00 price target for the company. in a research note on Tuesday, February 1st. StockNews.com raised Standard Motor Products from a “hold” rating to a “buy” rating in a research note on Tuesday, May 17th.

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.

Further Reading

Insider Buying and Selling by Quarter for Standard Motor Products (NYSE:SMP)

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