Insider Selling: Standard Motor Products (NYSE:SMP) VP Sells 5,822 Shares of Stock

by · The Markets Daily

Standard Motor Products, Inc. (NYSE:SMP – Get Free Report) VP Ray Nicholas sold 5,822 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $39.75, for a total transaction of $231,424.50. Following the completion of the sale, the vice president owned 35,327 shares in the company, valued at $1,404,248.25. This represents a 14.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Ray Nicholas also recently made the following trade(s):

  • On Monday, June 1st, Ray Nicholas sold 1,950 shares of Standard Motor Products stock. The stock was sold at an average price of $38.28, for a total transaction of $74,646.00.

Standard Motor Products Stock Performance

SMP stock traded up $0.19 on Tuesday, hitting $39.65. The company had a trading volume of 56,361 shares, compared to its average volume of 125,576. Standard Motor Products, Inc. has a 12-month low of $29.44 and a 12-month high of $46.00. The company has a current ratio of 2.23, a quick ratio of 0.78 and a debt-to-equity ratio of 0.86. The stock’s 50-day simple moving average is $37.75 and its 200 day simple moving average is $38.56. The stock has a market cap of $882.73 million, a price-to-earnings ratio of 19.44 and a beta of 0.81.

Standard Motor Products (NYSE:SMP – Get Free Report) last issued its earnings results on Thursday, April 30th. The auto parts company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.09. Standard Motor Products had a net margin of 2.51% and a return on equity of 12.98%. The company had revenue of $451.17 million for the quarter, compared to analysts’ expectations of $429.07 million. As a group, equities research analysts expect that Standard Motor Products, Inc. will post 4.4 earnings per share for the current fiscal year.

Standard Motor Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Friday, May 15th. Standard Motor Products’s dividend payout ratio is currently 64.71%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SMP shares. Wall Street Zen cut shares of Standard Motor Products from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 7th. Weiss Ratings cut shares of Standard Motor Products from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 20th. Finally, Zacks Research cut shares of Standard Motor Products from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 12th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $49.00.

Get Our Latest Analysis on SMP

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Parallel Advisors LLC lifted its stake in shares of Standard Motor Products by 76.7% during the 1st quarter. Parallel Advisors LLC now owns 949 shares of the auto parts company’s stock valued at $33,000 after buying an additional 412 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of Standard Motor Products by 5.3% during the 1st quarter. Empowered Funds LLC now owns 132,705 shares of the auto parts company’s stock valued at $4,610,000 after buying an additional 6,737 shares in the last quarter. Gamco Investors INC. ET AL lifted its stake in shares of Standard Motor Products by 1.7% during the 1st quarter. Gamco Investors INC. ET AL now owns 996,928 shares of the auto parts company’s stock valued at $34,633,000 after buying an additional 16,664 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Standard Motor Products by 40.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 75,421 shares of the auto parts company’s stock valued at $2,620,000 after acquiring an additional 21,821 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in Standard Motor Products by 4.6% during the first quarter. First Trust Advisors LP now owns 78,334 shares of the auto parts company’s stock valued at $2,721,000 after acquiring an additional 3,434 shares in the last quarter. Hedge funds and other institutional investors own 81.26% of the company’s stock.

Standard Motor Products Company Profile

(Get Free Report)

Standard Motor Products, Inc, headquartered in Long Island City, New York, is a leading manufacturer and distributor of aftermarket and original equipment automotive parts. Since its founding in 1919, the company has focused on engineering, testing, and supplying ignition and temperature management products for passenger cars and light trucks. Its product lineup includes ignition coils, spark plug wires, sensors, switches, heating and air conditioning controls, and related electronic components.

The company operates through two primary segments: Engine Management and Temperature Control.

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