Guggenheim Capital LLC lifted its holdings in shares of Standard Motor Products (NYSE:SMP) by 114.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 44,789 shares of the auto parts company’s stock after acquiring an additional 23,886 shares during the period. Guggenheim Capital LLC owned approximately 0.20% of Standard Motor Products worth $2,011,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Crossmark Global Holdings Inc. bought a new position in shares of Standard Motor Products during the 4th quarter worth about $239,000. Teacher Retirement System of Texas bought a new position in shares of Standard Motor Products during the 4th quarter worth about $320,000. Symons Capital Management Inc. bought a new position in shares of Standard Motor Products during the 4th quarter worth about $362,000. Reinhart Partners Inc. bought a new position in shares of Standard Motor Products during the 4th quarter worth about $1,208,000. Finally, California Public Employees Retirement System lifted its holdings in shares of Standard Motor Products by 17.0% during the 4th quarter. California Public Employees Retirement System now owns 33,524 shares of the auto parts company’s stock worth $1,506,000 after acquiring an additional 4,872 shares during the period. 80.56% of the stock is owned by institutional investors.
In related news, Director John P. Gethin sold 5,000 shares of Standard Motor Products stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $49.50, for a total transaction of $247,500.00. Following the completion of the transaction, the director now directly owns 20,850 shares of the company’s stock, valued at approximately $1,032,075. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.60% of the company’s stock.
SMP has been the subject of a number of analyst reports. ValuEngine downgraded shares of Standard Motor Products from a “buy” rating to a “hold” rating in a report on Tuesday, March 20th. Zacks Investment Research downgraded shares of Standard Motor Products from a “hold” rating to a “sell” rating in a report on Wednesday, February 7th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Standard Motor Products presently has a consensus rating of “Buy” and an average target price of $55.00.
Shares of SMP stock opened at $49.17 on Tuesday. Standard Motor Products has a 12-month low of $40.56 and a 12-month high of $54.73. The stock has a market cap of $1,095.40, a P/E ratio of 17.37, a PEG ratio of 2.41 and a beta of 1.67.
Standard Motor Products (NYSE:SMP) last announced its quarterly earnings results on Tuesday, February 20th. The auto parts company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.16. Standard Motor Products had a net margin of 3.40% and a return on equity of 14.15%. The firm had revenue of $239.98 million during the quarter. During the same period in the prior year, the business earned $0.42 earnings per share. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. equities analysts predict that Standard Motor Products will post 3.35 earnings per share for the current fiscal year.
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About Standard Motor Products
Standard Motor Products, Inc manufactures and distributes replacement parts for motor vehicles in the automotive aftermarket industry. Its Engine Management segment manufactures and distributes engine management replacement parts, including electronic ignition control modules, fuel injectors, remanufactured diesel injectors and pumps, ignition wires, coils, switches, relays, EGR valves, distributor caps and rotors, various sensors primarily measuring temperature, vehicle systems, electronic throttle bodies, and other engine management components primarily under the Standard, Blue Streak, BWD, Select, Intermotor, OEM, LockSmart, TechSmart, Tech Expert, and GP Sorensen brands.
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