Standard Motor Products (NYSE:SMP - Get Free Report) was upgraded by investment analysts at StockNews.com from a "buy" rating to a "strong-buy" rating in a report released on Friday.
Standard Motor Products Price Performance
Shares of Standard Motor Products stock traded down $0.52 during trading hours on Friday, reaching $30.50. The stock had a trading volume of 76,197 shares, compared to its average volume of 88,040. The stock's 50 day moving average is $31.81 and its 200 day moving average is $31.87. The company has a current ratio of 2.25, a quick ratio of 0.82 and a debt-to-equity ratio of 0.21. Standard Motor Products has a twelve month low of $26.09 and a twelve month high of $41.41. The firm has a market capitalization of $662.53 million, a PE ratio of 18.83 and a beta of 0.52.
Insider Buying and Selling
In other news, insider Carmine Joseph Broccole sold 913 shares of the business's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $34.96, for a total transaction of $31,918.48. Following the completion of the sale, the insider now owns 81,241 shares of the company's stock, valued at $2,840,185.36. The trade was a 1.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Ray Nicholas sold 4,730 shares of the firm's stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $34.11, for a total transaction of $161,340.30. Following the completion of the transaction, the vice president now directly owns 46,385 shares in the company, valued at $1,582,192.35. This represents a 9.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,184 shares of company stock valued at $387,041. 5.00% of the stock is owned by company insiders.
Institutional Investors Weigh In On Standard Motor Products
Several large investors have recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake in shares of Standard Motor Products by 5.9% in the third quarter. Geode Capital Management LLC now owns 485,299 shares of the auto parts company's stock worth $16,115,000 after acquiring an additional 27,210 shares during the last quarter. State Street Corp boosted its stake in Standard Motor Products by 2.6% during the 3rd quarter. State Street Corp now owns 783,593 shares of the auto parts company's stock worth $26,015,000 after purchasing an additional 19,652 shares during the last quarter. Franklin Resources Inc. purchased a new stake in shares of Standard Motor Products during the third quarter worth $3,876,000. Intech Investment Management LLC grew its holdings in shares of Standard Motor Products by 274.6% during the third quarter. Intech Investment Management LLC now owns 37,119 shares of the auto parts company's stock worth $1,232,000 after buying an additional 27,210 shares in the last quarter. Finally, Rice Hall James & Associates LLC raised its position in shares of Standard Motor Products by 47.1% in the third quarter. Rice Hall James & Associates LLC now owns 99,345 shares of the auto parts company's stock valued at $3,298,000 after buying an additional 31,826 shares during the last quarter. 81.26% of the stock is currently owned by hedge funds and other institutional investors.
Standard Motor Products Company Profile
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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.
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