Standard Motor Products, Inc. (SMP) Shares Sold by Credit Suisse AG

Credit Suisse AG reduced its position in Standard Motor Products, Inc. (NYSE:SMP) by 28.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,324 shares of the auto parts company’s stock after selling 4,999 shares during the quarter. Credit Suisse AG owned 0.05% of Standard Motor Products worth $606,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in SMP. Bank of New York Mellon Corp raised its stake in Standard Motor Products by 2.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 330,741 shares of the auto parts company’s stock worth $15,987,000 after acquiring an additional 9,276 shares during the period. SG Americas Securities LLC bought a new stake in Standard Motor Products during the 2nd quarter worth approximately $354,000. Schwab Charles Investment Management Inc. raised its stake in Standard Motor Products by 11.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 192,584 shares of the auto parts company’s stock worth $9,310,000 after acquiring an additional 19,413 shares during the period. US Bancorp DE raised its stake in Standard Motor Products by 121.9% during the 2nd quarter. US Bancorp DE now owns 2,135 shares of the auto parts company’s stock worth $104,000 after acquiring an additional 1,173 shares during the period. Finally, BlackRock Inc. raised its stake in Standard Motor Products by 6.0% during the 2nd quarter. BlackRock Inc. now owns 2,818,096 shares of the auto parts company’s stock worth $136,226,000 after acquiring an additional 158,939 shares during the period. Hedge funds and other institutional investors own 81.69% of the company’s stock.

In related news, CEO Eric Sills sold 1,015 shares of the firm’s stock in a transaction on Monday, October 15th. The shares were sold at an average price of $43.60, for a total value of $44,254.00. Following the completion of the transaction, the chief executive officer now directly owns 167,648 shares of the company’s stock, valued at $7,309,452.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Carmine Joseph Broccole sold 825 shares of the firm’s stock in a transaction on Monday, October 15th. The shares were sold at an average price of $44.07, for a total transaction of $36,357.75. Following the completion of the transaction, the senior vice president now directly owns 55,231 shares of the company’s stock, valued at $2,434,030.17. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,215 shares of company stock valued at $184,786. Insiders own 6.40% of the company’s stock.

Shares of SMP opened at $51.00 on Friday. Standard Motor Products, Inc. has a 1 year low of $42.50 and a 1 year high of $56.54. The company has a market cap of $1.15 billion, a price-to-earnings ratio of 18.02, a P/E/G ratio of 2.52 and a beta of 1.22.

Standard Motor Products (NYSE:SMP) last announced its quarterly earnings data on Friday, October 26th. The auto parts company reported $0.83 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.83. Standard Motor Products had a net margin of 2.86% and a return on equity of 12.78%. The business had revenue of $296.62 million during the quarter. During the same period last year, the business earned $0.74 earnings per share. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Standard Motor Products, Inc. will post 2.64 earnings per share for the current year.

A number of research firms have commented on SMP. Zacks Investment Research restated a “sell” rating on shares of Standard Motor Products in a research note on Thursday, November 15th. ValuEngine upgraded shares of Standard Motor Products from a “hold” rating to a “buy” rating in a research note on Saturday, October 27th.

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About Standard Motor Products

Standard Motor Products, Inc manufactures and distributes replacement parts for motor vehicles in the automotive aftermarket industry. Its Engine Management segment manufactures and distributes engine management replacement parts, including electronic ignition control modules, fuel injectors, remanufactured diesel injectors and pumps, ignition wires, coils, switches, relays, EGR valves, distributor caps and rotors, various sensors primarily measuring temperature, vehicle systems, electronic throttle bodies, and other engine management components primarily under the Standard, Blue Streak, BWD, Select, Intermotor, OEM, LockSmart, TechSmart, Tech Expert, and GP Sorensen brands.

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

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