Nordea Investment Management AB Acquires New Holdings in Standard Motor Products, Inc. (SMP)

Nordea Investment Management AB acquired a new position in Standard Motor Products, Inc. (NYSE:SMP) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 4,900 shares of the auto parts company’s stock, valued at approximately $256,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in Standard Motor Products by 65,269.9% during the 1st quarter. BlackRock Inc. now owns 2,483,404 shares of the auto parts company’s stock valued at $122,033,000 after purchasing an additional 2,479,605 shares during the period. Royce & Associates LP raised its stake in Standard Motor Products by 3.5% during the 2nd quarter. Royce & Associates LP now owns 2,141,830 shares of the auto parts company’s stock valued at $111,846,000 after acquiring an additional 72,600 shares in the last quarter. FMR LLC raised its stake in Standard Motor Products by 13.0% during the 2nd quarter. FMR LLC now owns 2,013,969 shares of the auto parts company’s stock valued at $105,169,000 after acquiring an additional 231,048 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Standard Motor Products by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,616,339 shares of the auto parts company’s stock valued at $79,427,000 after acquiring an additional 15,441 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Standard Motor Products by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 1,061,767 shares of the auto parts company’s stock valued at $55,445,000 after acquiring an additional 19,697 shares in the last quarter. Institutional investors own 78.41% of the company’s stock.

A number of equities research analysts have recently issued reports on SMP shares. Zacks Investment Research lowered Standard Motor Products from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. BidaskClub upgraded Standard Motor Products from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. Jefferies Group LLC restated a “buy” rating on shares of Standard Motor Products in a research note on Friday, July 7th. Finally, ValuEngine downgraded Standard Motor Products from a “buy” rating to a “hold” rating in a research note on Thursday, August 31st. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $54.00.

Standard Motor Products, Inc. (NYSE SMP) opened at 47.67 on Thursday. The company’s 50 day moving average price is $46.49 and its 200 day moving average price is $48.74. Standard Motor Products, Inc. has a 52-week low of $43.29 and a 52-week high of $55.37. The firm has a market cap of $1.09 billion, a PE ratio of 17.77 and a beta of 1.80.

Standard Motor Products (NYSE:SMP) last issued its quarterly earnings data on Monday, July 31st. The auto parts company reported $0.81 earnings per share (EPS) for the quarter, missing the Zacks’ 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 firm had revenue of $312.73 million during the quarter. During the same period last year, the firm earned $0.88 earnings per share. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. Analysts predict that Standard Motor Products, Inc. will post $2.87 earnings per share for the current fiscal year.

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In other news, CEO Eric Sills sold 1,060 shares of the stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $48.59, for a total transaction of $51,505.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Ray Nicholas sold 1,000 shares of the stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $48.35, for a total transaction of $48,350.00. The disclosure for this sale can be found here. Insiders sold a total of 100,428 shares of company stock valued at $4,508,439 over the last ninety days. 6.60% of the stock is currently owned by insiders.

Standard Motor Products Company Profile

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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Institutional Ownership by Quarter for Standard Motor Products (NYSE:SMP)

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