Advisor Group Holdings Inc. lessened its position in Standard Motor Products, Inc. (NYSE:SMP) by 58.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 3,098 shares of the auto parts company’s stock after selling 4,377 shares during the period. Advisor Group Holdings Inc.’s holdings in Standard Motor Products were worth $130,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of SMP. US Bancorp DE boosted its position in shares of Standard Motor Products by 93.0% during the 1st quarter. US Bancorp DE now owns 6,813 shares of the auto parts company’s stock worth $284,000 after purchasing an additional 3,283 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in Standard Motor Products by 15.5% in the first quarter. BNP Paribas Arbitrage SA now owns 8,301 shares of the auto parts company’s stock valued at $345,000 after buying an additional 1,117 shares in the last quarter. Nuveen Asset Management LLC lifted its position in shares of Standard Motor Products by 17.9% during the 1st quarter. Nuveen Asset Management LLC now owns 116,792 shares of the auto parts company’s stock valued at $4,856,000 after acquiring an additional 17,733 shares during the period. Wellington Management Group LLP boosted its stake in shares of Standard Motor Products by 1.9% during the 1st quarter. Wellington Management Group LLP now owns 382,374 shares of the auto parts company’s stock worth $15,895,000 after acquiring an additional 7,154 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Standard Motor Products by 48.4% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,168 shares of the auto parts company’s stock worth $423,000 after acquiring an additional 3,316 shares during the period. Institutional investors and hedge funds own 80.30% of the company’s stock.
Shares of SMP stock traded up $0.06 during trading hours on Friday, hitting $48.39. 76,433 shares of the company were exchanged, compared to its average volume of 122,385. The firm has a market cap of $1.08 billion, a PE ratio of 24.07 and a beta of 0.73. Standard Motor Products, Inc. has a 1 year low of $33.94 and a 1 year high of $55.85. The firm has a fifty day moving average of $45.93 and a 200 day moving average of $42.40.
Standard Motor Products (NYSE:SMP) last issued its earnings results on Wednesday, July 29th. The auto parts company reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.30. The business had revenue of $247.90 million during the quarter, compared to analysts’ expectations of $220.56 million. Standard Motor Products had a return on equity of 11.63% and a net margin of 4.36%. The company’s revenue for the quarter was down 18.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.92 EPS. As a group, equities research analysts predict that Standard Motor Products, Inc. will post 2.61 earnings per share for the current year.
A number of analysts have commented on the company. CL King upgraded Standard Motor Products from a “neutral” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Friday, June 26th. TheStreet upgraded Standard Motor Products from a “c+” rating to a “b” rating in a report on Monday, September 14th. Finally, Zacks Investment Research cut Standard Motor Products from a “strong-buy” rating to a “hold” rating and set a $49.00 price target for the company. in a report on Monday, October 5th.
In other Standard Motor Products news, Director Peter J. Sills sold 6,586 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $47.43, for a total value of $312,373.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Thomas Tesoro sold 760 shares of the business’s stock in a transaction on Friday, September 25th. The stock was sold at an average price of $41.97, for a total transaction of $31,897.20. Following the transaction, the senior vice president now directly owns 25,029 shares in the company, valued at $1,050,467.13. The disclosure for this sale can be found here. Insiders have sold a total of 42,104 shares of company stock worth $1,892,342 in the last 90 days. Company insiders own 6.40% of the company’s stock.
Standard Motor Products Profile
Standard Motor Products, Inc manufactures and distributes replacement parts for motor vehicles in the automotive aftermarket industry. 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, Intermotor, Standard Diesel, BWD Select, BWD, OEM, TechSmart, Tech Expert, GP Sorensen, LockSmart, and Pollak brand names, as well as under private labels comprising NAPA Echlin and NAPA Belden.
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