Standard Motor Products, Inc. (NYSE:SMP) saw a significant increase in short interest in the month of June. As of June 30th, there was short interest totalling 375,300 shares, an increase of 14.9% from the May 30th total of 326,700 shares. Based on an average daily trading volume, of 82,500 shares, the short-interest ratio is presently 4.5 days. Approximately 1.9% of the shares of the company are sold short.

In other Standard Motor Products news, VP Thomas Tesoro sold 7,000 shares of Standard Motor Products stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $44.25, for a total transaction of $309,750.00. Following the transaction, the vice president now owns 24,121 shares of the company’s stock, valued at $1,067,354.25. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Lawrence I. Sills sold 3,757 shares of Standard Motor Products stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $45.59, for a total value of $171,281.63. Following the transaction, the insider now directly owns 649,357 shares in the company, valued at approximately $29,604,185.63. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,536 shares of company stock worth $1,494,933. 6.60% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its stake in shares of Standard Motor Products by 2.8% in the fourth quarter. BlackRock Inc. now owns 3,000,644 shares of the auto parts company’s stock valued at $145,320,000 after buying an additional 82,762 shares in the last quarter. Tributary Capital Management LLC raised its holdings in shares of Standard Motor Products by 62.2% in the first quarter. Tributary Capital Management LLC now owns 368,583 shares of the auto parts company’s stock worth $18,097,000 after acquiring an additional 141,343 shares during the last quarter. Boston Partners raised its holdings in shares of Standard Motor Products by 1.1% in the first quarter. Boston Partners now owns 320,118 shares of the auto parts company’s stock worth $15,717,000 after acquiring an additional 3,460 shares during the last quarter. Copeland Capital Management LLC raised its holdings in shares of Standard Motor Products by 6.9% in the first quarter. Copeland Capital Management LLC now owns 294,043 shares of the auto parts company’s stock worth $14,438,000 after acquiring an additional 18,976 shares during the last quarter. Finally, Rockefeller Capital Management L.P. raised its holdings in shares of Standard Motor Products by 0.5% in the first quarter. Rockefeller Capital Management L.P. now owns 268,110 shares of the auto parts company’s stock worth $13,164,000 after acquiring an additional 1,435 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.

Shares of SMP stock traded up $0.52 during midday trading on Monday, hitting $45.29. The company had a trading volume of 2,318 shares, compared to its average volume of 98,982. The stock has a 50 day simple moving average of $44.54. Standard Motor Products has a 52-week low of $42.03 and a 52-week high of $56.54. The firm has a market capitalization of $1.00 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 1.38 and a beta of 1.10. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.62 and a current ratio of 1.68.

Standard Motor Products (NYSE:SMP) last announced its earnings results on Tuesday, April 30th. The auto parts company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.03). Standard Motor Products had a net margin of 4.24% and a return on equity of 13.02%. The company had revenue of $283.80 million during the quarter, compared to analysts’ expectations of $278.13 million. During the same quarter last year, the business posted $0.46 earnings per share. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. Analysts forecast that Standard Motor Products will post 2.94 EPS for the current fiscal year.

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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