TIAA CREF Investment Management LLC Boosts Stake in Standard Motor Products, Inc. (SMP)

TIAA CREF Investment Management LLC grew its holdings in Standard Motor Products, Inc. (NYSE:SMP) by 27.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 151,605 shares of the auto parts company’s stock after acquiring an additional 32,717 shares during the quarter. TIAA CREF Investment Management LLC owned 0.66% of Standard Motor Products worth $7,917,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Legal & General Group Plc boosted its position in shares of Standard Motor Products by 0.6% in the first quarter. Legal & General Group Plc now owns 33,915 shares of the auto parts company’s stock valued at $1,666,000 after acquiring an additional 215 shares during the period. Mason Street Advisors LLC boosted its position in shares of Standard Motor Products by 7.0% in the first quarter. Mason Street Advisors LLC now owns 4,699 shares of the auto parts company’s stock valued at $231,000 after acquiring an additional 308 shares during the period. Principal Financial Group Inc. boosted its position in shares of Standard Motor Products by 3.4% in the first quarter. Principal Financial Group Inc. now owns 165,662 shares of the auto parts company’s stock valued at $8,140,000 after acquiring an additional 5,434 shares during the period. BlackRock Inc. boosted its position in shares of Standard Motor Products by 65,269.9% in the first quarter. BlackRock Inc. now owns 2,483,404 shares of the auto parts company’s stock valued at $122,033,000 after acquiring an additional 2,479,605 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of Standard Motor Products by 66.9% in the first quarter. Renaissance Technologies LLC now owns 80,300 shares of the auto parts company’s stock valued at $3,946,000 after acquiring an additional 32,200 shares during the period. 78.41% of the stock is owned by institutional investors.

In other Standard Motor Products news, insider Peter J. Sills sold 2,428 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $48.43, for a total value of $117,588.04. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Eric Sills sold 1,060 shares of the company’s stock in a transaction on Monday, October 9th. The shares were sold at an average price of $48.59, for a total value of $51,505.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 100,428 shares of company stock worth $4,508,439. Insiders own 6.60% of the company’s stock.

Shares of Standard Motor Products, Inc. (SMP) opened at 47.77 on Wednesday. The stock has a 50 day moving average price of $46.39 and a 200 day moving average price of $48.75. Standard Motor Products, Inc. has a 52-week low of $43.29 and a 52-week high of $55.37. The company has a market capitalization of $1.09 billion, a PE ratio of 17.80 and a beta of 1.80.

Standard Motor Products (NYSE:SMP) last issued its quarterly earnings data on Monday, July 31st. The auto parts company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.18). Standard Motor Products had a net margin of 5.55% and a return on equity of 14.83%. The firm had revenue of $312.73 million during the quarter. During the same quarter last year, the company posted $0.88 earnings per share. Standard Motor Products’s quarterly revenue was up 8.2% on a year-over-year basis. On average, analysts predict that Standard Motor Products, Inc. will post $2.87 earnings per share for the current fiscal year.

Several equities research analysts have recently weighed in on the company. Jefferies Group LLC reissued a “buy” rating and issued a $60.00 price objective on shares of Standard Motor Products in a research report on Wednesday, August 9th. BidaskClub cut Standard Motor Products from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. Zacks Investment Research cut Standard Motor Products from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. Finally, ValuEngine cut Standard Motor Products from a “buy” rating to a “hold” rating in a research report on Thursday, August 31st. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $54.00.

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Standard Motor Products Company Profile

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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