Russell Investments Group Ltd. lessened its position in Stoneridge, Inc. (NYSE:SRI) by 58.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,109 shares of the auto parts company’s stock after selling 65,203 shares during the quarter. Russell Investments Group Ltd.’s holdings in Stoneridge were worth $1,379,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SRI. First Quadrant L P CA increased its holdings in shares of Stoneridge by 47.1% in the third quarter. First Quadrant L P CA now owns 9,286 shares of the auto parts company’s stock valued at $276,000 after purchasing an additional 2,974 shares during the last quarter. State Board of Administration of Florida Retirement System increased its holdings in shares of Stoneridge by 11.4% in the second quarter. State Board of Administration of Florida Retirement System now owns 29,232 shares of the auto parts company’s stock valued at $1,027,000 after purchasing an additional 2,984 shares during the last quarter. Zacks Investment Management increased its holdings in shares of Stoneridge by 7.3% in the second quarter. Zacks Investment Management now owns 51,886 shares of the auto parts company’s stock valued at $1,823,000 after purchasing an additional 3,526 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Stoneridge by 19.9% in the second quarter. First Trust Advisors LP now owns 30,818 shares of the auto parts company’s stock valued at $1,083,000 after purchasing an additional 5,114 shares during the last quarter. Finally, United Services Automobile Association acquired a new stake in shares of Stoneridge in the second quarter valued at approximately $252,000. Institutional investors and hedge funds own 93.83% of the company’s stock.
NYSE:SRI opened at $24.63 on Friday. Stoneridge, Inc. has a one year low of $21.17 and a one year high of $37.69. The company has a quick ratio of 1.60, a current ratio of 2.20 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $722.65 million, a P/E ratio of 13.08, a P/E/G ratio of 1.47 and a beta of 1.12.
Stoneridge (NYSE:SRI) last posted its earnings results on Friday, October 26th. The auto parts company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.04. The company had revenue of $208.90 million during the quarter, compared to analysts’ expectations of $204.36 million. Stoneridge had a return on equity of 21.77% and a net margin of 7.09%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.36 earnings per share. As a group, equities research analysts anticipate that Stoneridge, Inc. will post 2.03 earnings per share for the current year.
Several equities research analysts recently commented on the company. Barrington Research set a $50.00 price target on Stoneridge and gave the company a “buy” rating in a report on Monday, October 29th. Buckingham Research cut their price target on Stoneridge from $37.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, October 3rd. Zacks Investment Research cut Stoneridge from a “hold” rating to a “sell” rating in a report on Tuesday. ValuEngine raised Stoneridge from a “hold” rating to a “buy” rating in a report on Tuesday, September 4th. Finally, Stephens set a $35.00 price target on Stoneridge and gave the company a “buy” rating in a report on Tuesday, October 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $34.17.
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Stoneridge, Inc designs and manufactures engineered electrical and electronic components, modules, and systems for the automotive, commercial, motorcycle, off-highway, and agricultural vehicle markets. It operates through three segments: Control Devices, Electronics, and PST. The Control Devices segment provides sensors, switches, valves, and actuators that monitor, measure, or activate specific functions within a vehicle.
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