Standard Motor Products (NYSE:SMP) CEO Sells $125,307.00 in Stock

Key Points

• CEO Eric Sills sold 2,835 shares for $125,307 at an average price of $44.20, reducing his stake by 1.52% to 184,041 shares.
• Standard Motor Products reported quarterly EPS of $1.54, beating the $1.41 consensus, while revenue of $512.9 million was slightly below estimates. The company also declared a $0.33 quarterly dividend, equivalent to a 3.0% yield.
• Analysts’ average rating is Moderate Buy, with a $54 price target; the stock recently traded at $44.11.

Standard Motor Products, Inc. (NYSE:SMP - Get Free Report) CEO Eric Sills sold 2,835 shares of Standard Motor Products stock in a transaction on Tuesday, November 10th. The shares were sold at an average price of $44.20, for a total value of $125,307.00. Following the completion of the sale, the chief executive officer owned 184,041 shares in the company, valued at $8,134,612.20. This represents a 1.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Standard Motor Products Trading Down 0.4%

Shares of Standard Motor Products stock traded down $0.20 during trading hours on Thursday, hitting $44.11. The company's stock had a trading volume of 22,210 shares, compared to its average volume of 141,353. The stock has a market cap of $985.51 million, a price-to-earnings ratio of 14.46 and a beta of 0.80. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.73 and a current ratio of 1.81. Standard Motor Products, Inc. has a twelve month low of $34.27 and a twelve month high of $47.27. The firm has a fifty day moving average of $38.93 and a 200-day moving average of $38.82.

Standard Motor Products (NYSE:SMP - Get Free Report) last issued its quarterly earnings data on Friday, October 30th. The auto parts company reported $1.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.41 by $0.13. The firm had revenue of $512.90 million during the quarter, compared to the consensus estimate of $514.99 million. Standard Motor Products had a return on equity of 13.65% and a net margin of 3.77%. Research analysts forecast that Standard Motor Products, Inc. will post 4.30 EPS for the current year.

Standard Motor Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Monday, November 16th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Monday, November 16th. Standard Motor Products's dividend payout ratio (DPR) is 43.28%.

Institutional Trading of Standard Motor Products

Several hedge funds have recently made changes to their positions in SMP. Empowered Funds LLC acquired a new position in shares of Standard Motor Products in the second quarter valued at approximately $5,492,000. Legal & General Group Plc acquired a new stake in Standard Motor Products during the 2nd quarter worth approximately $2,129,000. Bank of America Corp DE acquired a new stake in Standard Motor Products during the 2nd quarter worth approximately $4,140,000. SummerHaven Investment Management LLC acquired a new stake in Standard Motor Products during the 3rd quarter worth approximately $1,067,000. Finally, Ellsworth Advisors LLC purchased a new position in Standard Motor Products in the 3rd quarter valued at approximately $2,208,000. Institutional investors and hedge funds own 81.26% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SMP. Weiss Ratings reissued a "buy (b-)" rating on shares of Standard Motor Products in a research note on Monday, October 26th. Wall Street Zen raised shares of Standard Motor Products from a "hold" rating to a "buy" rating in a research report on Sunday, August 16th. Finally, Roth Capital reaffirmed a "buy" rating and set a $54.00 price objective on shares of Standard Motor Products in a research report on Monday, November 2nd. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $54.00.

About Standard Motor Products

Standard Motor Products, Inc. NYSE: SMP designs, manufactures and distributes replacement parts for the automotive aftermarket, along with components for original equipment manufacturers. Founded in 1919, the company has a long history in the vehicle-parts industry. Its products include ignition, fuel, emissions, engine-management and temperature-control parts, as well as switches, sensors and related electrical components. The company sells products under brands including Standard and Blue Streak.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.