Citigroup Inc. boosted its stake in shares of Stoneridge, Inc. (NYSE:SRI) by 5,721.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,006 shares of the auto parts company’s stock after acquiring an additional 38,336 shares during the quarter. Citigroup Inc. owned 0.14% of Stoneridge worth $601,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. Ativo Capital Management LLC raised its position in Stoneridge by 46.7% during the second quarter. Ativo Capital Management LLC now owns 62,859 shares of the auto parts company’s stock valued at $969,000 after acquiring an additional 20,006 shares in the last quarter. Menta Capital LLC raised its position in Stoneridge by 111.2% during the second quarter. Menta Capital LLC now owns 148,720 shares of the auto parts company’s stock valued at $2,292,000 after acquiring an additional 78,295 shares in the last quarter. Ameriprise Financial Inc. purchased a new position in Stoneridge during the second quarter valued at approximately $440,000. Capital Fund Management S.A. raised its position in Stoneridge by 29.4% during the second quarter. Capital Fund Management S.A. now owns 19,800 shares of the auto parts company’s stock valued at $305,000 after acquiring an additional 4,500 shares in the last quarter. Finally, Kennedy Capital Management Inc. purchased a new position in Stoneridge during the second quarter valued at approximately $2,732,000. Institutional investors own 87.79% of the company’s stock.
In other Stoneridge news, insider Robert J. Jr. Hartman sold 7,358 shares of the firm’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $16.51, for a total transaction of $121,480.58. Following the completion of the transaction, the insider now owns 37,281 shares of the company’s stock, valued at $615,509.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael D. Sloan sold 30,000 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $16.30, for a total value of $489,000.00. Following the transaction, the vice president now directly owns 34,223 shares of the company’s stock, valued at approximately $557,834.90. The disclosure for this sale can be found here. Company insiders own 5.30% of the company’s stock.
Shares of Stoneridge, Inc. (NYSE SRI) opened at 21.80 on Thursday. The stock has a market capitalization of $614.08 million, a PE ratio of 8.07 and a beta of 1.44. The stock has a 50 day moving average price of $18.40 and a 200-day moving average price of $16.99. Stoneridge, Inc. has a 52-week low of $13.42 and a 52-week high of $22.34.
Stoneridge (NYSE:SRI) last issued its earnings results on Wednesday, August 2nd. The auto parts company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.10. The business had revenue of $209.10 million during the quarter, compared to the consensus estimate of $202.45 million. Stoneridge had a return on equity of 22.52% and a net margin of 10.12%. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.41 EPS. On average, equities research analysts anticipate that Stoneridge, Inc. will post $1.46 EPS for the current fiscal year.
A number of analysts have recently commented on the company. BidaskClub cut Stoneridge from a “sell” rating to a “strong sell” rating in a research report on Friday, August 4th. ValuEngine upgraded Stoneridge from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Finally, Zacks Investment Research upgraded Stoneridge from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $18.67.
Stoneridge Company Profile
Stoneridge, Inc is a designer and manufacturer of engineered electrical and electronic components, modules and systems for the automotive, commercial, motorcycle, off-highway and agricultural vehicle markets. The Company operates through three segments: Control Devices, Electronics and PST. The Company’s Control Devices segment designs and manufactures products that monitor, measure or activate specific functions within a vehicle and includes product lines, such as sensors, switches, valves, and actuators.
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