New York State Common Retirement Fund cut its stake in shares of Stoneridge, Inc. (NYSE:SRI) by 0.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,000 shares of the auto parts company’s stock after selling 1 shares during the quarter. New York State Common Retirement Fund owned approximately 0.10% of Stoneridge worth $431,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its stake in Stoneridge by 0.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,548,415 shares of the auto parts company’s stock worth $28,088,000 after acquiring an additional 5,670 shares in the last quarter. Royce & Associates LP boosted its stake in Stoneridge by 343.7% during the second quarter. Royce & Associates LP now owns 1,235,737 shares of the auto parts company’s stock worth $19,043,000 after acquiring an additional 957,237 shares in the last quarter. Vanguard Group Inc. boosted its stake in Stoneridge by 3.8% during the first quarter. Vanguard Group Inc. now owns 1,108,924 shares of the auto parts company’s stock worth $20,116,000 after acquiring an additional 41,013 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Stoneridge by 4.1% during the second quarter. JPMorgan Chase & Co. now owns 1,054,612 shares of the auto parts company’s stock worth $16,252,000 after acquiring an additional 42,020 shares in the last quarter. Finally, LSV Asset Management boosted its stake in Stoneridge by 6.5% during the second quarter. LSV Asset Management now owns 745,300 shares of the auto parts company’s stock worth $11,485,000 after acquiring an additional 45,600 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently issued reports on the stock. B. Riley reissued a “neutral” rating on shares of Stoneridge in a research note on Friday, November 3rd. Zacks Investment Research raised shares of Stoneridge from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research note on Thursday, November 9th. BidaskClub lowered shares of Stoneridge from a “sell” rating to a “strong sell” rating in a research note on Friday, August 4th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Stoneridge in a research note on Sunday, October 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $23.50.
Stoneridge, Inc. (SRI) opened at $21.75 on Wednesday. Stoneridge, Inc. has a 12 month low of $14.16 and a 12 month high of $22.99. The firm has a market cap of $613.01, a price-to-earnings ratio of 14.51 and a beta of 1.48. The company has a quick ratio of 1.65, a current ratio of 2.24 and a debt-to-equity ratio of 0.58.
Stoneridge (NYSE:SRI) last released its quarterly earnings results on Wednesday, November 1st. The auto parts company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.04. Stoneridge had a net margin of 9.45% and a return on equity of 20.37%. The company had revenue of $203.60 million for the quarter, compared to analyst estimates of $192.80 million. During the same period last year, the firm earned $0.36 earnings per share. The firm’s revenue was up 17.1% on a year-over-year basis. equities research analysts anticipate that Stoneridge, Inc. will post 1.51 EPS for the current fiscal year.
In related news, VP Thomas A. Beaver sold 49,779 shares of the firm’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $21.51, for a total transaction of $1,070,746.29. Following the transaction, the vice president now directly owns 76,529 shares of the company’s stock, valued at $1,646,138.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert J. Jr. Hartman sold 7,358 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $16.51, for a total transaction of $121,480.58. Following the sale, the insider now owns 37,281 shares of the company’s stock, valued at approximately $615,509.31. The disclosure for this sale can be found here. 5.30% of the stock is owned by company insiders.
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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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