Adirondack Research & Management Inc. increased its position in Stoneridge, Inc. (NYSE:SRI) by 8.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 197,594 shares of the auto parts company’s stock after acquiring an additional 15,000 shares during the quarter. Stoneridge comprises about 1.5% of Adirondack Research & Management Inc.’s investment portfolio, making the stock its 25th biggest position. Adirondack Research & Management Inc. owned about 0.70% of Stoneridge worth $3,914,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Legal & General Group Plc raised its holdings in Stoneridge by 12.2% in the 1st quarter. Legal & General Group Plc now owns 7,077 shares of the auto parts company’s stock worth $128,000 after acquiring an additional 772 shares during the period. CAPROCK Group Inc. bought a new position in Stoneridge in the 2nd quarter worth $157,000. Eqis Capital Management Inc. bought a new position in Stoneridge in the 2nd quarter worth $162,000. Nine Chapters Capital Management LLC bought a new position in Stoneridge in the 3rd quarter worth $216,000. Finally, SG Americas Securities LLC bought a new position in Stoneridge in the 2nd quarter worth $217,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.
Stoneridge, Inc. (NYSE SRI) traded down $0.10 during trading hours on Monday, hitting $21.78. 162,342 shares of the stock traded hands, compared to its average volume of 155,807. Stoneridge, Inc. has a one year low of $14.16 and a one year high of $23.47. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.65 and a current ratio of 2.24. The company has a market cap of $616.39, a P/E ratio of 14.59 and a beta of 1.45.
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, topping the consensus estimate 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 the consensus estimate of $192.80 million. During the same quarter in the previous year, the firm posted $0.36 EPS. The business’s revenue was up 17.1% compared to the same quarter last year. research analysts forecast that Stoneridge, Inc. will post 1.49 EPS for the current fiscal year.
In other news, VP Thomas A. Beaver sold 49,779 shares of Stoneridge 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 sale, the vice president now directly owns 76,529 shares in the company, valued at approximately $1,646,138.79. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Robert J. Jr. Hartman sold 7,358 shares of Stoneridge stock in a transaction dated Thursday, September 7th. The shares were 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 in the company, valued at $615,509.31. The disclosure for this sale can be found here. Insiders own 5.30% of the company’s stock.
Several research analysts recently commented on the stock. KeyCorp reiterated a “hold” rating on shares of Stoneridge in a report on Friday, November 17th. Zacks Investment Research upgraded shares of Stoneridge from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a report on Thursday, November 9th. Finally, B. Riley restated a “neutral” rating on shares of Stoneridge in a report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $23.50.
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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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