Standard Motor Products (SMP) : Royce Associates Lp reduced its stake in Standard Motor Products by 16.66% during the most recent quarter end. The investment management company now holds a total of 2,517,214 shares of Standard Motor Products which is valued at $126,187,938 after selling 503,124 shares in Standard Motor Products , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Standard Motor Products makes up approximately 0.79% of Royce Associates Lp’s portfolio.
Other Hedge Funds, Including , Burney Co reduced its stake in SMP by selling 635 shares or 8.75% in the most recent quarter. The Hedge Fund company now holds 6,625 shares of SMP which is valued at $332,111. Standard Motor Products makes up approx 0.02% of Burney Co’s portfolio.Blackrock Institutional Trust Company N.a. boosted its stake in SMP in the latest quarter, The investment management firm added 10,124 additional shares and now holds a total of 521,423 shares of Standard Motor Products which is valued at $24,981,376. Tower Research Capital (trc) sold out all of its stake in SMP during the most recent quarter. The investment firm sold 100 shares of SMP which is valued $4,791.Louisiana State Employees 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 8,800 shares of Standard Motor Products which is valued at $418,352. Standard Motor Products makes up approx 0.02% of Louisiana State Employees Retirement System’s portfolio.
Standard Motor Products opened for trading at $50.22 and hit $50.64 on the upside on Monday, eventually ending the session at $50.46, with a gain of 0.94% or 0.47 points. The heightened volatility saw the trading volume jump to 1,17,606 shares. Company has a market cap of $1,152 M.
On the company’s financial health, Standard Motor Products reported $0.92 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Oct 27, 2016. Analyst had a consensus of $0.91. The company had revenue of $300.80 million for the quarter, compared to analysts expectations of $300.67 million. The company’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.80 EPS.
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 Companys Engine Management Segment manufactures ignition and emission parts ignition wires battery cables fuel system parts and sensors for vehicle systems. The Companys 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.