Strs Ohio buys $769,340 stake in Standard Motor Products (SMP)

Standard Motor Products (SMP) : Strs Ohio scooped up 1,700 additional shares in Standard Motor Products during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 21, 2016. The investment management firm now holds a total of 22,000 shares of Standard Motor Products which is valued at $769,340.Standard Motor Products makes up approximately 0.05% of Strs Ohio’s portfolio.

Standard Motor Products closed down -0.4 points or -1.12% at $35.21 with 45,834 shares getting traded on Wednesday. Post opening the session at $35.54, the shares hit an intraday low of $34.655 and an intraday high of $35.54 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Other Hedge Funds, Including , Thomson Horstmann Bryant Inc sold out all of its stake in SMP during the most recent quarter. The investment firm sold 76,020 shares of SMP which is valued $2,658,419.New York State Teachers Retirement System boosted its stake in SMP in the latest quarter, The investment management firm added 100 additional shares and now holds a total of 62,082 shares of Standard Motor Products which is valued at $2,171,008. Standard Motor Products makes up approx 0.01% of New York State Teachers Retirement System’s portfolio.Gemmer Asset Management boosted its stake in SMP in the latest quarter, The investment management firm added 28 additional shares and now holds a total of 81 shares of Standard Motor Products which is valued at $2,762. Acadian Asset Management sold out all of its stake in SMP during the most recent quarter. The investment firm sold 4,114 shares of SMP which is valued $140,287.Creative Planning boosted its stake in SMP in the latest quarter, The investment management firm added 141 additional shares and now holds a total of 2,203 shares of Standard Motor Products which is valued at $73,338.

On the company’s financial health, Standard Motor Products reported $0.35 EPS for the quarter, missing the analyst consensus estimate by $ -0.21 based on the information available during the earnings call on Feb 26, 2016. Analyst had a consensus of $0.56. The company had revenue of $204.97 million for the quarter, compared to analysts expectations of $223.63 million. The company’s revenue was down -6.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.49 EPS.

Many Wall Street Analysts have commented on Standard Motor Products. Sidoti Initiated Standard Motor Products on Apr 18, 2016 to “Buy”, Price Target of the shares are set at $44.Standard Motor Products was Upgraded by CL King to ” Buy” on Jan 25, 2016.

Standard Motor Products Inc. is an independent manufacturer and distributor of replacement parts for motor vehicles in the automotive aftermarket industry. The Company is organized into two operating segments each of which focuses on specific lines of replacement parts. The Company’s Engine Management Segment manufactures ignition and emission parts ignition wires battery cables fuel system parts and sensors for vehicle systems. The Company’s Temperature Control Segment manufactures and remanufactures air conditioning compressors air conditioning and heating parts engine cooling system parts power window accessories and windshield washer system parts. The Company sells its products to warehouse distributors large retail chains original equipment manufacturers and original equipment service part operations in the United States Canada Latin America and Europe.

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