Standard Motor Products (NYSE:SMP) Upgraded at StockNews.com

StockNews.com upgraded shares of Standard Motor Products (NYSE:SMP) from a buy rating to a strong-buy rating in a report published on Friday.

Standard Motor Products Trading Down 0.7 %

NYSE SMP opened at $31.02 on Friday. Standard Motor Products has a 12 month low of $26.09 and a 12 month high of $41.71. The company has a current ratio of 2.25, a quick ratio of 0.82 and a debt-to-equity ratio of 0.21. The stock’s fifty day moving average price is $31.81 and its 200-day moving average price is $31.87. The stock has a market cap of $673.71 million, a P/E ratio of 19.15 and a beta of 0.52.

Insiders Place Their Bets

In related news, VP Ray Nicholas sold 4,730 shares of Standard Motor Products stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $34.11, for a total value of $161,340.30. Following the completion of the sale, the vice president now directly owns 46,385 shares in the company, valued at approximately $1,582,192.35. This trade represents a 9.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Nathan R. Iles sold 1,485 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $34.97, for a total value of $51,930.45. Following the completion of the transaction, the chief financial officer now directly owns 29,015 shares of the company’s stock, valued at approximately $1,014,654.55. This trade represents a 4.87 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,184 shares of company stock valued at $387,041. Insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On Standard Motor Products

Hedge funds and other institutional investors have recently modified their holdings of the company. Franklin Resources Inc. purchased a new stake in Standard Motor Products during the third quarter valued at $3,876,000. Royce & Associates LP lifted its stake in shares of Standard Motor Products by 6.0% in the 3rd quarter. Royce & Associates LP now owns 1,295,997 shares of the auto parts company’s stock worth $43,027,000 after purchasing an additional 73,476 shares during the period. Barclays PLC lifted its stake in shares of Standard Motor Products by 359.9% in the 3rd quarter. Barclays PLC now owns 48,522 shares of the auto parts company’s stock worth $1,609,000 after purchasing an additional 37,971 shares during the period. Bank of Montreal Can purchased a new position in shares of Standard Motor Products in the second quarter worth approximately $1,029,000. Finally, Rice Hall James & Associates LLC increased its holdings in Standard Motor Products by 47.1% during the third quarter. Rice Hall James & Associates LLC now owns 99,345 shares of the auto parts company’s stock valued at $3,298,000 after buying an additional 31,826 shares during the last quarter. 81.26% of the stock is owned by institutional investors.

Standard Motor Products Company Profile

Standard Motor Products, Inc manufactures and distributes replacement automotive parts in the United States and internationally. The company operates through three segments: Vehicle Control, Temperature Control, and Engineered Solutions segments. The company provides components for the ignition, emissions, and fuel delivery systems, such as air injection and induction components, air management valves, regulators and solenoids, exhaust gas recirculation components, fuel injectors and related components, fuel valves, ignition coils, connectors and sockets, modules, pumps, relays and fuses, starting and charging system parts, and vapor and purge components.