Standard Motor Products (NYSE:SMP) Posts Earnings Results, Beats Estimates By $0.01 EPS

Standard Motor Products (NYSE:SMP) posted its quarterly earnings data on Tuesday. The auto parts company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.01, Zacks reports. Standard Motor Products had a net margin of 2.51% and a return on equity of 12.98%. The firm had revenue of $526.72 million during the quarter, compared to analysts’ expectations of $511.68 million. During the same quarter last year, the company posted $1.13 EPS.

Standard Motor Products Stock Up 3.5%

SMP traded up $1.36 during trading hours on Tuesday, hitting $40.14. 110,257 shares of the company’s stock were exchanged, compared to its average volume of 130,389. Standard Motor Products has a 12-month low of $31.58 and a 12-month high of $46.00. The firm has a 50 day moving average of $38.80 and a 200 day moving average of $38.84. The firm has a market cap of $893.57 million, a P/E ratio of 19.66 and a beta of 0.81. The company has a current ratio of 2.23, a quick ratio of 0.78 and a debt-to-equity ratio of 0.86.

Analyst Upgrades and Downgrades

SMP has been the topic of a number of research analyst reports. Weiss Ratings raised Standard Motor Products from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, July 28th. Zacks Research lowered Standard Motor Products from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 12th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Standard Motor Products has a consensus rating of “Moderate Buy” and an average price target of $49.00.

Insider Transactions at Standard Motor Products

In other Standard Motor Products news, VP Ray Nicholas sold 5,822 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $39.75, for a total value of $231,424.50. Following the completion of the transaction, the vice president owned 35,327 shares of the company’s stock, valued at $1,404,248.25. This trade represents a 14.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 5.50% of the stock is currently owned by company insiders.

Institutional Trading of Standard Motor Products

Several hedge funds have recently modified their holdings of SMP. Jump Financial LLC acquired a new stake in shares of Standard Motor Products in the 4th quarter valued at $225,000. Osaic Holdings Inc. lifted its position in shares of Standard Motor Products by 6.2% during the 4th quarter. Osaic Holdings Inc. now owns 6,142 shares of the auto parts company’s stock worth $226,000 after purchasing an additional 358 shares during the last quarter. Mangrove Partners IM LLC acquired a new position in shares of Standard Motor Products during the fourth quarter worth $225,000. LPL Financial LLC increased its holdings in Standard Motor Products by 6.1% in the fourth quarter. LPL Financial LLC now owns 6,946 shares of the auto parts company’s stock valued at $256,000 after buying an additional 397 shares during the last quarter. Finally, NewEdge Advisors LLC purchased a new position in Standard Motor Products in the third quarter valued at $285,000. 81.26% of the stock is currently owned by institutional investors and hedge funds.

Standard Motor Products Company Profile

Standard Motor Products, Inc, headquartered in Long Island City, New York, is a leading manufacturer and distributor of aftermarket and original equipment automotive parts. Since its founding in 1919, the company has focused on engineering, testing, and supplying ignition and temperature management products for passenger cars and light trucks. Its product lineup includes ignition coils, spark plug wires, sensors, switches, heating and air conditioning controls, and related electronic components.

The company operates through two primary segments: Engine Management and Temperature Control.