Schwab Charles Investment Management Inc. boosted its holdings in Standard Motor Products, Inc. (NYSE:SMP) by 8.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 153,278 shares of the auto parts company’s stock after acquiring an additional 12,141 shares during the period. Schwab Charles Investment Management Inc. owned 0.68% of Standard Motor Products worth $7,396,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wells Fargo & Company MN increased its position in Standard Motor Products by 22.3% during the 3rd quarter. Wells Fargo & Company MN now owns 46,829 shares of the auto parts company’s stock worth $2,259,000 after buying an additional 8,544 shares during the period. Citadel Advisors LLC increased its position in Standard Motor Products by 110.6% during the 3rd quarter. Citadel Advisors LLC now owns 49,479 shares of the auto parts company’s stock worth $2,388,000 after buying an additional 25,982 shares during the period. Legal & General Group Plc increased its position in Standard Motor Products by 3.4% during the 3rd quarter. Legal & General Group Plc now owns 37,869 shares of the auto parts company’s stock worth $1,827,000 after buying an additional 1,243 shares during the period. Eagle Asset Management Inc. increased its position in Standard Motor Products by 14.6% during the 3rd quarter. Eagle Asset Management Inc. now owns 240,847 shares of the auto parts company’s stock worth $11,779,000 after buying an additional 30,635 shares during the period. Finally, Nordea Investment Management AB increased its position in Standard Motor Products by 95.9% during the 3rd quarter. Nordea Investment Management AB now owns 9,600 shares of the auto parts company’s stock worth $463,000 after buying an additional 4,700 shares during the period. Institutional investors and hedge funds own 79.16% of the company’s stock.

Several research analysts have weighed in on SMP shares. Zacks Investment Research upgraded Standard Motor Products from a “sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. Jefferies Group reiterated a “buy” rating and set a $60.00 price objective on shares of Standard Motor Products in a research report on Tuesday, September 12th. FBR & Co reiterated a “hold” rating and set a $48.00 price objective on shares of Standard Motor Products in a research report on Friday, October 27th. Finally, B. Riley reiterated a “neutral” rating on shares of Standard Motor Products in a research report on Wednesday, November 1st. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $54.00.

In other news, SVP Carmine Joseph Broccole sold 1,123 shares of the stock in a transaction on Monday, October 9th. The stock was sold at an average price of $48.18, for a total transaction of $54,106.14. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Peter J. Sills sold 2,775 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $42.46, for a total value of $117,826.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,167 shares of company stock worth $923,887. 6.60% of the stock is currently owned by insiders.

Standard Motor Products, Inc. (SMP) opened at $45.61 on Friday. The firm has a market capitalization of $1,030.00, a price-to-earnings ratio of 17.54, a price-to-earnings-growth ratio of 2.30 and a beta of 1.81. Standard Motor Products, Inc. has a 12-month low of $40.56 and a 12-month high of $54.73.

Standard Motor Products (NYSE:SMP) last posted its quarterly earnings data on Thursday, October 26th. The auto parts company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.12). The firm had revenue of $281.06 million for the quarter. Standard Motor Products had a return on equity of 13.68% and a net margin of 4.97%. Standard Motor Products’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.92 EPS. equities analysts expect that Standard Motor Products, Inc. will post 2.67 earnings per share for the current year.

Standard Motor Products announced that its board has initiated a stock repurchase program on Monday, November 20th that authorizes the company to buyback $10.00 million in outstanding shares. This buyback authorization authorizes the auto parts company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

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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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Institutional Ownership by Quarter for Standard Motor Products (NYSE:SMP)

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