California State Teachers Retirement System Sells 4,195 Shares of Standard Motor Products, Inc. (SMP)

California State Teachers Retirement System trimmed its holdings in shares of Standard Motor Products, Inc. (NYSE:SMP) by 9.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,150 shares of the auto parts company’s stock after selling 4,195 shares during the period. California State Teachers Retirement System owned about 0.17% of Standard Motor Products worth $1,992,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the business. BlackRock Inc. grew its holdings 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 worth $122,033,000 after acquiring an additional 2,479,605 shares in the last quarter. Royce & Associates LP boosted its holdings in shares of Standard Motor Products by 3.5% in 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 buying an additional 72,600 shares in the last quarter. FMR LLC boosted its holdings in shares of Standard Motor Products by 13.0% in the 2nd quarter. FMR LLC now owns 2,013,969 shares of the auto parts company’s stock valued at $105,169,000 after buying an additional 231,048 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Standard Motor Products by 1.9% in 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 buying an additional 19,697 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Standard Motor Products by 1.1% in the 2nd quarter. Northern Trust Corp now owns 650,001 shares of the auto parts company’s stock valued at $33,944,000 after buying an additional 6,935 shares in the last quarter. Institutional investors own 79.67% of the company’s stock.

A number of research firms have recently weighed in on SMP. B. Riley restated a “neutral” rating on shares of Standard Motor Products in a report on Wednesday, November 1st. BidaskClub upgraded shares of Standard Motor Products from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Zacks Investment Research cut shares of Standard Motor Products from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Jefferies Group LLC restated a “buy” rating and issued a $60.00 price target on shares of Standard Motor Products in a report on Wednesday, August 9th. Finally, FBR & Co restated a “hold” rating and issued a $48.00 price target on shares of Standard Motor Products in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $54.00.

In related 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 value of $51,505.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Lawrence I. Sills sold 24,583 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $44.19, for a total transaction of $1,086,322.77. Following the transaction, the insider now directly owns 704,696 shares of the company’s stock, valued at $31,140,516.24. The disclosure for this sale can be found here. Insiders sold a total of 110,362 shares of company stock valued at $4,939,667 over the last ninety days. 6.60% of the stock is currently owned by insiders.

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Standard Motor Products, Inc. (NYSE SMP) opened at $40.61 on Thursday. The company has a market cap of $935.94, a P/E ratio of 15.27, a P/E/G ratio of 2.58 and a beta of 1.80. Standard Motor Products, Inc. has a 1 year low of $40.56 and a 1 year high of $55.37.

Standard Motor Products (NYSE:SMP) last announced its quarterly earnings data on Thursday, October 26th. The auto parts company reported $0.74 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by ($0.12). The company had revenue of $281.06 million during the quarter. Standard Motor Products had a net margin of 4.97% and a return on equity of 13.68%. The firm’s revenue was down 6.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.92 earnings per share. analysts predict that Standard Motor Products, Inc. will post 2.67 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Tuesday, November 14th. Standard Motor Products’s payout ratio is currently 32.20%.

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.

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

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