Peter J. Sills Sells 15,000 Shares of Standard Motor Products Inc. (SMP) Stock
Standard Motor Products Inc. (NYSE:SMP) Director Peter J. Sills sold 15,000 shares of the business’s stock in a transaction on Monday, November 28th. The shares were sold at an average price of $51.01, for a total transaction of $765,150.00. Following the sale, the director now owns 376,001 shares of the company’s stock, valued at approximately $19,179,811.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Standard Motor Products Inc. (NYSE:SMP) opened at 50.92 on Wednesday. The firm has a market cap of $1.16 billion, a P/E ratio of 20.45 and a beta of 1.74. Standard Motor Products Inc. has a one year low of $29.69 and a one year high of $51.76. The stock’s 50 day moving average is $48.64 and its 200 day moving average is $43.61.
Standard Motor Products (NYSE:SMP) last announced its earnings results on Thursday, October 27th. The company reported $0.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.01. Standard Motor Products had a return on equity of 15.04% and a net margin of 5.54%. The company earned $300.80 million during the quarter, compared to analyst estimates of $300.67 million. During the same period last year, the company posted $0.80 earnings per share. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. On average, equities research analysts expect that Standard Motor Products Inc. will post $2.87 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th will be paid a $0.17 dividend. The ex-dividend date is Thursday, November 10th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.34%. Standard Motor Products’s dividend payout ratio (DPR) is presently 27.31%.
ILLEGAL ACTIVITY NOTICE: “Peter J. Sills Sells 15,000 Shares of Standard Motor Products Inc. (SMP) Stock” was posted by Financial Market News and is owned by of Financial Market News. If you are reading this story on another publication, it was illegally stolen and republished in violation of U.S. & international trademark & copyright laws. The original version of this story can be accessed at http://www.financial-market-news.com/peter-j-sills-sells-15000-shares-of-standard-motor-products-inc-smp-stock/1209977/.
Several hedge funds have recently made changes to their positions in SMP. PineBridge Investments L.P. raised its stake in shares of Standard Motor Products by 8.1% in the second quarter. PineBridge Investments L.P. now owns 2,504 shares of the company’s stock worth $100,000 after buying an additional 187 shares during the period. Teacher Retirement System of Texas raised its stake in shares of Standard Motor Products by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 2,838 shares of the company’s stock worth $113,000 after buying an additional 341 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Standard Motor Products during the third quarter worth $121,000. Creative Planning raised its stake in shares of Standard Motor Products by 15.2% in the third quarter. Creative Planning now owns 2,550 shares of the company’s stock worth $122,000 after buying an additional 337 shares during the period. Finally, BlackRock Inc. raised its stake in shares of Standard Motor Products by 216.2% in the second quarter. BlackRock Inc. now owns 3,772 shares of the company’s stock worth $150,000 after buying an additional 2,579 shares during the period. Institutional investors own 80.03% of the company’s stock.
Several analysts have weighed in on the stock. FBR & Co boosted their target price on shares of Standard Motor Products from $38.00 to $40.00 and gave the company a “mkt perform” rating in a research note on Thursday, August 4th. Zacks Investment Research raised shares of Standard Motor Products from a “hold” rating to a “strong-buy” rating and set a $50.00 price target for the company in a report on Friday, August 5th. Finally, Jefferies Group boosted their price target on shares of Standard Motor Products from $45.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, August 4th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $48.75.
About Standard Motor Products
Standard Motor Products, Inc is a manufacturer and distributor of replacement parts for motor vehicles in the automotive aftermarket industry with a focus on heavy duty, industrial equipment and the original equipment service market. The Company operates through two segments: Engine Management Segment and Temperature Control Segment.
Receive News & Ratings for Standard Motor Products Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Standard Motor Products Inc. and related companies with MarketBeat.com's FREE daily email newsletter.