Adirondack Research & Management Inc. grew its position in Stoneridge, Inc. (NYSE:SRI) by 8.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 197,594 shares of the auto parts company’s stock after purchasing an additional 15,000 shares during the period. Stoneridge makes up approximately 1.5% of Adirondack Research & Management Inc.’s holdings, making the stock its 25th biggest position. Adirondack Research & Management Inc. owned 0.70% of Stoneridge worth $3,914,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of SRI. Royce & Associates LP grew its position in Stoneridge by 343.7% in the 2nd quarter. Royce & Associates LP now owns 1,235,737 shares of the auto parts company’s stock worth $19,043,000 after purchasing an additional 957,237 shares during the last quarter. Renaissance Technologies LLC grew its position in Stoneridge by 33.4% in the 2nd quarter. Renaissance Technologies LLC now owns 835,600 shares of the auto parts company’s stock worth $12,877,000 after purchasing an additional 209,000 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Stoneridge by 13.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,756,176 shares of the auto parts company’s stock worth $27,063,000 after purchasing an additional 207,761 shares during the last quarter. Kennedy Capital Management Inc. bought a new position in Stoneridge in the 2nd quarter worth about $2,732,000. Finally, Walthausen & Co. LLC grew its position in Stoneridge by 24.0% in the 2nd quarter. Walthausen & Co. LLC now owns 678,270 shares of the auto parts company’s stock worth $10,452,000 after purchasing an additional 131,490 shares during the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.
Stoneridge, Inc. (NYSE:SRI) traded down $0.06 during trading on Friday, hitting $21.63. 133,041 shares of the stock traded hands, compared to its average volume of 183,709. The company has a quick ratio of 1.65, a current ratio of 2.24 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $609.34, a PE ratio of 14.42 and a beta of 1.48. Stoneridge, Inc. has a twelve month low of $14.16 and a twelve month high of $22.99.
Stoneridge (NYSE:SRI) last posted its quarterly earnings data on Wednesday, November 1st. The auto parts company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.04. The business had revenue of $203.60 million during the quarter, compared to analysts’ expectations of $192.80 million. Stoneridge had a net margin of 9.45% and a return on equity of 20.37%. The business’s revenue was up 17.1% on a year-over-year basis. During the same period last year, the firm posted $0.36 earnings per share. equities research analysts forecast that Stoneridge, Inc. will post 1.51 earnings per share for the current year.
In other news, insider Robert J. Jr. Hartman sold 7,358 shares of the stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $16.51, for a total value of $121,480.58. Following the completion of the transaction, the insider now directly owns 37,281 shares in the company, valued at $615,509.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Thomas A. Beaver sold 49,779 shares of the stock in a transaction that occurred on 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 completion of the transaction, the vice president now owns 76,529 shares of the company’s stock, valued at $1,646,138.79. The disclosure for this sale can be found here. Company insiders own 5.30% of the company’s stock.
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Several research analysts have commented on SRI shares. Zacks Investment Research cut shares of Stoneridge from a “buy” rating to a “hold” rating in a research report on Thursday, October 5th. BidaskClub cut shares of Stoneridge from a “sell” rating to a “strong sell” rating in a research report on Friday, August 4th. KeyCorp restated a “hold” rating on shares of Stoneridge in a research report on Sunday, October 15th. Finally, B. Riley restated a “neutral” rating on shares of Stoneridge in a research report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $23.50.
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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