Standard Motor Products, Inc. (NYSE:SMP) posted its quarterly earnings results on Monday, July 31st. The auto parts company reported $0.81 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.99 by $0.18, Briefing.com reports. Standard Motor Products had a net margin of 5.55% and a return on equity of 14.83%. The company had revenue of $312.73 million for the quarter. During the same period in the previous year, the company earned $0.88 earnings per share. The business’s quarterly revenue was up 8.2% on a year-over-year basis.
Shares of Standard Motor Products (NYSE SMP) traded up 0.69% during trading on Friday, reaching $43.89. 57,992 shares of the company were exchanged. The firm has a 50-day moving average price of $49.67 and a 200-day moving average price of $49.43. Standard Motor Products has a 1-year low of $42.43 and a 1-year high of $55.37. The stock has a market capitalization of $999.86 million, a P/E ratio of 16.36 and a beta of 1.81.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date is Friday, August 11th. Standard Motor Products’s dividend payout ratio (DPR) is 28.36%.
In other Standard Motor Products news, Director Frederick D. Sturdivant sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $50.75, for a total value of $101,500.00. Following the completion of the transaction, the director now owns 28,850 shares of the company’s stock, valued at approximately $1,464,137.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas Tesoro sold 3,950 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $47.91, for a total transaction of $189,244.50. Following the completion of the transaction, the vice president now directly owns 29,026 shares of the company’s stock, valued at approximately $1,390,635.66. The disclosure for this sale can be found here. Insiders sold a total of 32,750 shares of company stock valued at $1,645,693 in the last three months. 6.60% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC raised its stake in shares of Standard Motor Products by 130.1% in the fourth quarter. Renaissance Technologies LLC now owns 48,100 shares of the auto parts company’s stock worth $2,560,000 after buying an additional 27,200 shares during the last quarter. USA Financial Portformulas Corp purchased a new stake in shares of Standard Motor Products during the fourth quarter worth $246,000. Teachers Advisors LLC raised its stake in shares of Standard Motor Products by 4.5% in the fourth quarter. Teachers Advisors LLC now owns 36,176 shares of the auto parts company’s stock worth $1,925,000 after buying an additional 1,566 shares during the last quarter. Park National Corp OH raised its stake in shares of Standard Motor Products by 0.4% in the first quarter. Park National Corp OH now owns 4,474 shares of the auto parts company’s stock worth $220,000 after buying an additional 16 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in shares of Standard Motor Products by 1.2% in the first quarter. Louisiana State Employees Retirement System now owns 8,200 shares of the auto parts company’s stock worth $403,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 77.90% of the company’s stock.
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SMP has been the subject of several research analyst reports. Jefferies Group LLC reaffirmed a “buy” rating and set a $60.00 price target on shares of Standard Motor Products in a research note on Wednesday, August 9th. BidaskClub raised shares of Standard Motor Products from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Finally, Zacks Investment Research downgraded shares of Standard Motor Products from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th.
About Standard Motor Products
Standard Motor Products, Inc is an independent manufacturer and distributor of replacement parts for motor vehicles in the automotive aftermarket industry with a complementary focus on heavy duty, industrial equipment and the original equipment service market. The Company’s segments include Engine Management Segment and Temperature Control Segment.
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