Ameriprise Financial Inc. Buys 5,956 Shares of Standard Motor Products, Inc. (SMP)

Ameriprise Financial Inc. raised its stake in shares of Standard Motor Products, Inc. (NYSE:SMP) by 5.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 119,802 shares of the auto parts company’s stock after purchasing an additional 5,956 shares during the period. Ameriprise Financial Inc. owned 0.52% of Standard Motor Products worth $6,257,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in Standard Motor Products by 65,269.9% during the first quarter. BlackRock Inc. now owns 2,483,404 shares of the auto parts company’s stock valued at $122,033,000 after purchasing an additional 2,479,605 shares during the period. Royce & Associates LP grew its holdings in Standard Motor Products by 3.5% during the second quarter. Royce & Associates LP now owns 2,141,830 shares of the auto parts company’s stock valued at $111,846,000 after purchasing an additional 72,600 shares during the period. Dimensional Fund Advisors LP grew its holdings in Standard Motor Products by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,616,339 shares of the auto parts company’s stock valued at $79,427,000 after purchasing an additional 15,441 shares during the period. Vanguard Group Inc. grew its holdings in Standard Motor Products by 7.2% during the first quarter. Vanguard Group Inc. now owns 1,042,070 shares of the auto parts company’s stock valued at $51,207,000 after purchasing an additional 69,882 shares during the period. Finally, State Street Corp grew its holdings in Standard Motor Products by 6.9% during the first quarter. State Street Corp now owns 483,986 shares of the auto parts company’s stock valued at $23,785,000 after purchasing an additional 31,293 shares during the period. 78.41% of the stock is owned by institutional investors and hedge funds.

Several analysts have issued reports on the company. Zacks Investment Research lowered Standard Motor Products from a “hold” rating to a “sell” rating in a report on Friday, August 4th. BidaskClub lowered Standard Motor Products from a “buy” rating to a “hold” rating in a report on Monday, August 7th. Jefferies Group LLC reissued a “buy” rating on shares of Standard Motor Products in a report on Friday, July 7th. Finally, ValuEngine lowered Standard Motor Products from a “buy” rating to a “hold” rating in a report on Thursday, August 31st. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $54.00.

In other news, CEO Eric Sills sold 1,060 shares of the firm’s stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $48.59, for a total transaction of $51,505.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Carmine Joseph Broccole sold 1,123 shares of the firm’s stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $48.18, for a total value of $54,106.14. The disclosure for this sale can be found here. Insiders have sold a total of 102,943 shares of company stock worth $4,626,241 over the last ninety days. 6.60% of the stock is owned by insiders.

TRADEMARK VIOLATION NOTICE: “Ameriprise Financial Inc. Buys 5,956 Shares of Standard Motor Products, Inc. (SMP)” was originally reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this news story on another domain, it was copied illegally and republished in violation of United States & international copyright legislation. The original version of this news story can be viewed at https://ledgergazette.com/2017/10/20/ameriprise-financial-inc-buys-5956-shares-of-standard-motor-products-inc-smp.html.

Shares of Standard Motor Products, Inc. (NYSE SMP) opened at 47.39 on Friday. Standard Motor Products, Inc. has a 12-month low of $43.29 and a 12-month high of $55.37. The firm’s 50-day moving average price is $46.98 and its 200 day moving average price is $48.69. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 17.66 and a beta of 1.80.

Standard Motor Products (NYSE:SMP) last announced its quarterly earnings results on

A number of other large investors also recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in Standard Motor Products by 65,269.9% during the first quarter. BlackRock Inc. now owns 2,483,404 shares of the auto parts company’s stock valued at $122,033,000 after purchasing an additional 2,479,605 shares during the period. Royce & Associates LP grew its holdings in Standard Motor Products by 3.5% during the second quarter. Royce & Associates LP now owns 2,141,830 shares of the auto parts company’s stock valued at $111,846,000 after purchasing an additional 72,600 shares during the period. Dimensional Fund Advisors LP grew its holdings in Standard Motor Products by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,616,339 shares of the auto parts company’s stock valued at $79,427,000 after purchasing an additional 15,441 shares during the period. Vanguard Group Inc. grew its holdings in Standard Motor Products by 7.2% during the first quarter. Vanguard Group Inc. now owns 1,042,070 shares of the auto parts company’s stock valued at $51,207,000 after purchasing an additional 69,882 shares during the period. Finally, State Street Corp grew its holdings in Standard Motor Products by 6.9% during the first quarter. State Street Corp now owns 483,986 shares of the auto parts company’s stock valued at $23,785,000 after purchasing an additional 31,293 shares during the period. 78.41% of the stock is owned by institutional investors and hedge funds.

Several analysts have issued reports on the company. Zacks Investment Research lowered Standard Motor Products from a “hold” rating to a “sell” rating in a report on Friday, August 4th. BidaskClub lowered Standard Motor Products from a “buy” rating to a “hold” rating in a report on Monday, August 7th. Jefferies Group LLC reissued a “buy” rating on shares of Standard Motor Products in a report on Friday, July 7th. Finally, ValuEngine lowered Standard Motor Products from a “buy” rating to a “hold” rating in a report on Thursday, August 31st. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $54.00.

In other news, CEO Eric Sills sold 1,060 shares of the firm’s stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $48.59, for a total transaction of $51,505.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Carmine Joseph Broccole sold 1,123 shares of the firm’s stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $48.18, for a total value of $54,106.14. The disclosure for this sale can be found here. Insiders have sold a total of 102,943 shares of company stock worth $4,626,241 over the last ninety days. 6.60% of the stock is owned by insiders.

TRADEMARK VIOLATION NOTICE: “Ameriprise Financial Inc. Buys 5,956 Shares of Standard Motor Products, Inc. (SMP)” was originally reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this news story on another domain, it was copied illegally and republished in violation of United States & international copyright legislation. The original version of this news story can be viewed at https://ledgergazette.com/2017/10/20/ameriprise-financial-inc-buys-5956-shares-of-standard-motor-products-inc-smp.html.

Shares of Standard Motor Products, Inc. (NYSE SMP) opened at 47.39 on Friday. Standard Motor Products, Inc. has a 12-month low of $43.29 and a 12-month high of $55.37. The firm’s 50-day moving average price is $46.98 and its 200 day moving average price is $48.69. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 17.66 and a beta of 1.80.

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

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.

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

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