Carmine Joseph Broccole Sells 1,148 Shares of Standard Motor Products (NYSE:SMP) Stock

Standard Motor Products, Inc. (NYSE:SMP) insider Carmine Joseph Broccole sold 1,148 shares of the firm’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $38.31, for a total value of $43,979.88. Following the sale, the insider directly owned 83,367 shares of the company’s stock, valued at approximately $3,193,789.77. This trade represents a 1.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Standard Motor Products Stock Performance

Shares of Standard Motor Products stock opened at $38.14 on Friday. The firm has a market cap of $838.93 million, a PE ratio of 21.67 and a beta of 0.68. The company has a quick ratio of 0.87, a current ratio of 2.16 and a debt-to-equity ratio of 0.86. Standard Motor Products, Inc. has a 52 week low of $21.38 and a 52 week high of $42.13. The business’s fifty day simple moving average is $39.61 and its 200-day simple moving average is $34.90.

Standard Motor Products (NYSE:SMP) last issued its quarterly earnings data on Friday, October 31st. The auto parts company reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.22. The firm had revenue of $498.84 million during the quarter, compared to the consensus estimate of $503.33 million. Standard Motor Products had a return on equity of 12.98% and a net margin of 2.39%. Equities analysts forecast that Standard Motor Products, Inc. will post 3.08 earnings per share for the current year.

Standard Motor Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Friday, November 14th. Standard Motor Products’s payout ratio is 88.57%.

Analysts Set New Price Targets

A number of research firms recently weighed in on SMP. Zacks Research raised shares of Standard Motor Products from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Wall Street Zen raised Standard Motor Products from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 26th. Weiss Ratings restated a “hold (c+)” rating on shares of Standard Motor Products in a research note on Thursday, October 30th. Finally, Roth Capital reaffirmed a “buy” rating and issued a $49.00 price objective on shares of Standard Motor Products in a research note on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $49.00.

Institutional Investors Weigh In On Standard Motor Products

Large investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC lifted its holdings in Standard Motor Products by 4,842.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 939 shares of the auto parts company’s stock worth $29,000 after buying an additional 920 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Standard Motor Products by 188.3% during the first quarter. PNC Financial Services Group Inc. now owns 2,295 shares of the auto parts company’s stock worth $57,000 after acquiring an additional 1,499 shares during the period. Tower Research Capital LLC TRC increased its position in shares of Standard Motor Products by 235.5% during the second quarter. Tower Research Capital LLC TRC now owns 2,298 shares of the auto parts company’s stock worth $71,000 after acquiring an additional 1,613 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Standard Motor Products in the third quarter valued at $108,000. Finally, Harbor Capital Advisors Inc. boosted its holdings in Standard Motor Products by 26.7% in the second quarter. Harbor Capital Advisors Inc. now owns 5,609 shares of the auto parts company’s stock valued at $172,000 after purchasing an additional 1,182 shares during the period. 81.26% of the stock is owned by hedge funds and other institutional investors.

About Standard Motor Products

Standard Motor Products, Inc manufactures and distributes replacement automotive parts in the United States and internationally. The company operates through three segments: Vehicle Control, Temperature Control, and Engineered Solutions segments. The company provides components for the ignition, emissions, and fuel delivery systems, such as air injection and induction components, air management valves, regulators and solenoids, exhaust gas recirculation components, fuel injectors and related components, fuel valves, ignition coils, connectors and sockets, modules, pumps, relays and fuses, starting and charging system parts, and vapor and purge components.