Standard Motor Products, Inc. (NYSE:SMP) saw a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 410,000 shares, a decrease of 13.2% from the July 31st total of 472,200 shares. Based on an average daily volume of 85,800 shares, the days-to-cover ratio is currently 4.8 days. Approximately 2.1% of the shares of the company are sold short.
NYSE:SMP traded down $0.89 during trading hours on Friday, reaching $49.50. 95,876 shares of the company were exchanged, compared to its average volume of 82,280. The company has a market capitalization of $1.12 billion, a P/E ratio of 19.41, a P/E/G ratio of 1.50 and a beta of 1.04. Standard Motor Products has a 1-year low of $42.03 and a 1-year high of $56.54. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.54 and a quick ratio of 0.58. The business has a 50 day moving average of $45.41 and a 200 day moving average of $47.07.
Standard Motor Products (NYSE:SMP) last issued its quarterly earnings results on Thursday, July 25th. The auto parts company reported $0.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.12. The business had revenue of $305.17 million for the quarter, compared to the consensus estimate of $302.47 million. Standard Motor Products had a return on equity of 13.71% and a net margin of 4.48%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.74 earnings per share. As a group, equities research analysts anticipate that Standard Motor Products will post 3.06 earnings per share for the current fiscal year.
Separately, Zacks Investment Research downgraded Standard Motor Products from a “hold” rating to a “sell” rating and set a $50.00 price target on the stock. in a research report on Monday, July 29th.
In related news, Director Pamela Forbes Lieberman sold 16,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $50.00, for a total transaction of $800,000.00. Following the sale, the director now owns 39,655 shares of the company’s stock, valued at $1,982,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Thomas Tesoro sold 7,000 shares of the stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $44.25, for a total value of $309,750.00. Following the sale, the vice president now directly owns 24,121 shares in the company, valued at approximately $1,067,354.25. The disclosure for this sale can be found here. Insiders sold 41,131 shares of company stock worth $1,949,175 in the last ninety days. 6.60% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the stock. BlackRock Inc. grew its position in Standard Motor Products by 0.7% during the second quarter. BlackRock Inc. now owns 3,061,974 shares of the auto parts company’s stock worth $138,829,000 after buying an additional 22,635 shares in the last quarter. Northern Trust Corp lifted its stake in Standard Motor Products by 1.1% during the second quarter. Northern Trust Corp now owns 608,988 shares of the auto parts company’s stock worth $27,612,000 after purchasing an additional 6,604 shares during the last quarter. Neumeier Poma Investment Counsel LLC lifted its stake in Standard Motor Products by 12.1% during the second quarter. Neumeier Poma Investment Counsel LLC now owns 459,940 shares of the auto parts company’s stock worth $20,854,000 after purchasing an additional 49,800 shares during the last quarter. Copeland Capital Management LLC lifted its stake in Standard Motor Products by 20.4% during the second quarter. Copeland Capital Management LLC now owns 354,086 shares of the auto parts company’s stock worth $16,054,000 after purchasing an additional 60,043 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its stake in Standard Motor Products by 0.7% during the second quarter. Rockefeller Capital Management L.P. now owns 269,904 shares of the auto parts company’s stock worth $12,237,000 after purchasing an additional 1,794 shares during the last quarter. 78.53% of the stock is currently owned by institutional investors and hedge funds.
Standard Motor Products Company Profile
Standard Motor Products, Inc manufactures and distributes replacement parts for motor vehicles in the automotive aftermarket industry. The company operates in two segments, Engine Management and Temperature Control. The Engine Management segment offers electronic ignition control modules, new and remanufactured fuel injectors, ignition wires, coils, switches, relays, EGR valves, distributor caps and rotors, sensors, electronic throttle bodies, keyless entry transmitters, safety-related components, and other engine management components.
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