Cubist Systematic Strategies LLC Purchases Shares of 4,889 Standard Motor Products, Inc. (NYSE:SMP)

Share on StockTwits

Cubist Systematic Strategies LLC purchased a new stake in shares of Standard Motor Products, Inc. (NYSE:SMP) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,889 shares of the auto parts company’s stock, valued at approximately $222,000.

A number of other hedge funds have also made changes to their positions in the business. Morgan Stanley lifted its position in Standard Motor Products by 23.3% during the second quarter. Morgan Stanley now owns 89,178 shares of the auto parts company’s stock valued at $4,043,000 after buying an additional 16,861 shares in the last quarter. AQR Capital Management LLC lifted its position in Standard Motor Products by 69.1% during the second quarter. AQR Capital Management LLC now owns 10,689 shares of the auto parts company’s stock valued at $485,000 after buying an additional 4,369 shares in the last quarter. Bank of America Corp DE lifted its position in Standard Motor Products by 22.9% during the second quarter. Bank of America Corp DE now owns 19,527 shares of the auto parts company’s stock valued at $885,000 after buying an additional 3,642 shares in the last quarter. Zebra Capital Management LLC lifted its position in Standard Motor Products by 123.5% during the second quarter. Zebra Capital Management LLC now owns 12,053 shares of the auto parts company’s stock valued at $546,000 after buying an additional 6,661 shares in the last quarter. Finally, Invesco Ltd. lifted its position in Standard Motor Products by 2.0% during the second quarter. Invesco Ltd. now owns 52,924 shares of the auto parts company’s stock valued at $2,400,000 after buying an additional 1,039 shares in the last quarter. 78.59% of the stock is currently owned by hedge funds and other institutional investors.

In other news, EVP Dale Burks sold 1,331 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $49.93, for a total transaction of $66,456.83. Following the transaction, the executive vice president now directly owns 45,016 shares of the company’s stock, valued at $2,247,648.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Peter J. Sills sold 16,800 shares of the business’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $46.01, for a total transaction of $772,968.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,561 shares of company stock worth $2,592,280. 6.60% of the stock is currently owned by corporate insiders.

Shares of SMP stock opened at $47.47 on Tuesday. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 18.62, a price-to-earnings-growth ratio of 1.35 and a beta of 1.03. The company has a quick ratio of 0.58, a current ratio of 1.54 and a debt-to-equity ratio of 0.06. Standard Motor Products, Inc. has a fifty-two week low of $42.03 and a fifty-two week high of $56.54. The firm’s 50 day moving average price is $46.75 and its two-hundred day moving average price is $46.87.

Standard Motor Products (NYSE:SMP) last announced its quarterly earnings results on Thursday, July 25th. The auto parts company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.12. The firm had revenue of $305.17 million for the quarter, compared to analysts’ expectations of $302.47 million. Standard Motor Products had a net margin of 4.48% and a return on equity of 13.71%. Standard Motor Products’s revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.74 earnings per share. On average, equities analysts forecast that Standard Motor Products, Inc. will post 3.11 EPS for the current fiscal year.

Separately, Zacks Investment Research cut shares of Standard Motor Products from a “hold” rating to a “sell” rating and set a $50.00 price target on the stock. in a research report on Monday, July 29th.

About Standard Motor Products

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.

Featured Article: Hold Rating

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

Receive News & Ratings for Standard Motor Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Standard Motor Products and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


 
© 2006-2019 BBNS.