Dallas, Texas 03/18/2014 (FINANCIALSTRENDS) – Standard Pacific Corp. (NYSE:SPF), a company which operates in two business segments including homebuilding and financial services, was recently in news when its chief executive officer Scott Stowell sold 4,200 shares, worth approximately $37,800.00. The transaction, dated March 11, saw the shares being sold at an average price of $9.00.
Following the completion of the transaction, Stowell now directly owns total 684,827 shares in Standard Pacific Corp., which is valued at total $6,163,443. This information was shared by the company in its U.S. SEC filing.
The same day, CEO Stowell also joined the board of Pacific Mutual Holding Company, the parent company of Pacific Life Insurance Company. “Scott has successfully demonstrated strong leadership for over 25 years at Standard Pacific Homes,” said Jim Morris, chairman and CEO of Pacific Life. “He has guided the company during a time of transformational change. We welcome his experience and business acumen as he joins the Pacific Mutual Holding Company board.”
Last, Standard Pacific Corp. (NYSE:SPF) reported its quarterly earnings results for the fourth quarter of 2013 on February 5, 2014. The company posted $0.16 earnings per share for the quarter, beating the consensus estimate of $0.14. The company had revenue of $598.50 million for the Q4, compared to the estimate of $565.73 million. Standard Pacific’s revenue was up 58.8 percent on a year-over-year basis. Standard Pacific Corp. is expected to post $0.57 earnings per share for the current fiscal year.
“I am pleased with our strong financial performance in 2013, the fourth most profitable year in Standard Pacific Homes’ nearly 50-year history and our highest annual pretax earnings since 2005. The execution of our strategy continues to drive top line revenue and profitability and is reflected in our strong results,” Stowell said.
