Jefferies Group LLC reiterated their buy rating on shares of Standard Motor Products, Inc. (NYSE:SMP) in a research note published on Wednesday morning. Jefferies Group LLC currently has a $60.00 price objective on the auto parts company’s stock.
Several other equities research analysts also recently commented on the company. Zacks Investment Research raised Standard Motor Products from a hold rating to a buy rating and set a $53.00 target price on the stock in a report on Tuesday, April 18th. BidaskClub raised Standard Motor Products from a hold rating to a buy rating in a report on Wednesday, July 5th.
Shares of Standard Motor Products (NYSE:SMP) traded down 0.02% during trading on Wednesday, reaching $45.32. The company’s stock had a trading volume of 73,951 shares. The firm has a market cap of $1.03 billion, a P/E ratio of 16.89 and a beta of 1.81. Standard Motor Products has a one year low of $42.11 and a one year high of $55.37. The stock’s 50 day moving average is $50.47 and its 200 day moving average is $49.60.
Standard Motor Products (NYSE:SMP) last released its earnings results on Monday, July 31st. The auto parts company reported $0.81 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.99 by $0.18. Standard Motor Products had a return on equity of 14.83% and a net margin of 5.55%. The company had revenue of $312.73 million during the quarter. During the same quarter last year, the business earned $0.88 earnings per share. The company’s quarterly revenue was up 8.2% on a year-over-year basis. On average, equities analysts forecast that Standard Motor Products will post $2.87 EPS for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.68%. 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, VP Thomas Tesoro sold 3,950 shares of the business’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $47.91, for a total value of $189,244.50. Following the sale, the vice president now directly owns 29,026 shares of the company’s stock, valued at $1,390,635.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Carmine Joseph Broccole sold 2,000 shares of the business’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $49.49, for a total value of $98,980.00. Following the completion of the sale, the senior vice president now directly owns 47,823 shares in the company, valued at $2,366,760.27. The disclosure for this sale can be found here. Insiders sold 32,750 shares of company stock worth $1,645,693 over the last three months. Corporate insiders own 6.60% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Standard Motor Products by 65,269.9% in the first quarter. BlackRock Inc. now owns 2,483,404 shares of the auto parts company’s stock worth $122,033,000 after buying an additional 2,479,605 shares during the last quarter. FMR LLC increased its position in shares of Standard Motor Products by 13.0% in the second quarter. FMR LLC now owns 2,013,969 shares of the auto parts company’s stock worth $105,169,000 after buying an additional 231,048 shares during the last quarter. Opus Capital Group LLC acquired a new position in shares of Standard Motor Products during the first quarter worth about $6,430,000. Rockefeller Financial Services Inc. increased its position in shares of Standard Motor Products by 74.2% in the first quarter. Rockefeller Financial Services Inc. now owns 225,487 shares of the auto parts company’s stock worth $11,080,000 after buying an additional 96,030 shares during the last quarter. Finally, Neumeier Poma Investment Counsel LLC increased its position in shares of Standard Motor Products by 16.1% in the first quarter. Neumeier Poma Investment Counsel LLC now owns 551,545 shares of the auto parts company’s stock worth $27,103,000 after buying an additional 76,665 shares during the last quarter. 77.83% of the stock is currently owned by institutional investors and hedge funds.
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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