Jefferies Group LLC reissued their buy rating on shares of Standard Motor Products, Inc. (NYSE:SMP) in a report issued on Wednesday morning. The brokerage currently has a $60.00 target price on the auto parts company’s stock.

Several other brokerages also recently weighed in on SMP. BidaskClub upgraded Standard Motor Products from a hold rating to a buy rating in a research note on Tuesday, August 1st. Zacks Investment Research downgraded Standard Motor Products from a buy rating to a hold rating in a research note on Tuesday, July 4th.

Shares of Standard Motor Products (SMP) traded down 0.02% on Wednesday, hitting $45.32. The stock had a trading volume of 73,951 shares. The company’s 50 day moving average price is $50.47 and its 200-day moving average price is $49.60. Standard Motor Products has a 12 month low of $42.11 and a 12 month high of $55.37. The company has a market cap of $1.03 billion, a P/E ratio of 16.89 and a beta of 1.81.

Standard Motor Products (NYSE:SMP) last announced its earnings results on Monday, July 31st. The auto parts company reported $0.81 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.99 by $0.18. Standard Motor Products had a return on equity of 14.83% and a net margin of 5.55%. The business had revenue of $312.73 million for the quarter. During the same quarter last year, the business posted $0.88 EPS. Standard Motor Products’s revenue was up 8.2% compared to the same quarter last year. On average, analysts expect that Standard Motor Products will post $2.87 earnings per share for the current year.

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The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be paid a dividend of $0.19 per share. The ex-dividend date is Friday, August 11th. This represents a $0.76 annualized dividend and a yield of 1.68%. Standard Motor Products’s dividend payout ratio (DPR) is 28.36%.

In other Standard Motor Products news, VP Thomas Tesoro sold 3,950 shares of Standard Motor Products stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $47.91, for a total transaction of $189,244.50. Following the completion of the sale, the vice president now owns 29,026 shares of the company’s stock, valued at approximately $1,390,635.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Lawrence I. Sills sold 4,800 shares of Standard Motor Products stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $50.83, for a total value of $243,984.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,750 shares of company stock worth $1,645,693. 6.60% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of SMP. BlackRock Inc. boosted its stake in shares of Standard Motor Products by 65,269.9% in the first quarter. BlackRock Inc. now owns 2,483,404 shares of the auto parts company’s stock worth $122,033,000 after buying an additional 2,479,605 shares in the last quarter. FMR LLC boosted its stake in shares of Standard Motor Products by 13.0% in the second quarter. FMR LLC now owns 2,013,969 shares of the auto parts company’s stock worth $105,169,000 after buying an additional 231,048 shares in the last quarter. Opus Capital Group LLC purchased a new stake in shares of Standard Motor Products during the first quarter worth approximately $6,430,000. Rockefeller Financial Services Inc. boosted its stake in shares of Standard Motor Products by 74.2% in the first quarter. Rockefeller Financial Services Inc. now owns 225,487 shares of the auto parts company’s stock worth $11,080,000 after buying an additional 96,030 shares in the last quarter. Finally, Neumeier Poma Investment Counsel LLC boosted its stake in shares of Standard Motor Products by 16.1% in the first quarter. Neumeier Poma Investment Counsel LLC now owns 551,545 shares of the auto parts company’s stock worth $27,103,000 after buying an additional 76,665 shares in the last quarter. 77.83% of the stock is owned by institutional investors.

About Standard Motor Products

Standard Motor Products, Inc is an independent manufacturer and distributor of replacement parts for motor vehicles in the automotive aftermarket industry with a complementary focus on heavy duty, industrial equipment and the original equipment service market. The Company’s segments include Engine Management Segment and Temperature Control Segment.

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