Pembroke Management LTD grew its position in Stoneridge, Inc. (NYSE:SRI) by 8.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 895,050 shares of the auto parts company’s stock after buying an additional 69,760 shares during the period. Stoneridge makes up about 3.0% of Pembroke Management LTD’s investment portfolio, making the stock its 7th largest holding. Pembroke Management LTD owned about 3.12% of Stoneridge worth $28,239,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of SRI. Geode Capital Management LLC raised its position in shares of Stoneridge by 7.1% in the fourth quarter. Geode Capital Management LLC now owns 310,188 shares of the auto parts company’s stock valued at $7,646,000 after buying an additional 20,602 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Stoneridge in the fourth quarter valued at approximately $351,000. Bank of America Corp DE raised its position in shares of Stoneridge by 548.8% in the fourth quarter. Bank of America Corp DE now owns 164,049 shares of the auto parts company’s stock valued at $4,044,000 after buying an additional 138,763 shares in the last quarter. D. E. Shaw & Co. Inc. acquired a new stake in shares of Stoneridge in the fourth quarter valued at approximately $585,000. Finally, Metropolitan Life Insurance Co. NY raised its position in shares of Stoneridge by 333.1% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 9,620 shares of the auto parts company’s stock valued at $237,000 after buying an additional 7,399 shares in the last quarter. 94.99% of the stock is owned by institutional investors and hedge funds.
SRI has been the subject of a number of analyst reports. Citigroup reiterated an “average” rating on shares of Stoneridge in a research report on Tuesday, May 7th. Zacks Investment Research upgraded shares of Stoneridge from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. Barrington Research reiterated a “buy” rating and issued a $35.00 price target on shares of Stoneridge in a research report on Monday, July 29th. Finally, ValuEngine upgraded shares of Stoneridge from a “hold” rating to a “buy” rating in a research report on Tuesday, July 2nd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Stoneridge currently has a consensus rating of “Buy” and a consensus price target of $33.67.
In other Stoneridge news, insider Robert J. Jr. Hartman sold 5,601 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $28.75, for a total transaction of $161,028.75. Following the sale, the insider now owns 37,281 shares of the company’s stock, valued at $1,071,828.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Thomas A. Beaver sold 21,093 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $26.49, for a total transaction of $558,753.57. Following the sale, the vice president now directly owns 53,001 shares in the company, valued at approximately $1,403,996.49. The disclosure for this sale can be found here. Insiders sold 48,716 shares of company stock worth $1,337,315 over the last three months. 4.20% of the stock is currently owned by insiders.
NYSE:SRI traded down $0.65 during mid-day trading on Friday, reaching $30.25. The stock had a trading volume of 409,347 shares, compared to its average volume of 197,644. The business has a 50-day simple moving average of $31.63. The stock has a market capitalization of $867.87 million, a PE ratio of 15.20 and a beta of 1.35. The company has a quick ratio of 1.48, a current ratio of 2.06 and a debt-to-equity ratio of 0.37. Stoneridge, Inc. has a 12 month low of $21.91 and a 12 month high of $34.88.
Stoneridge (NYSE:SRI) last announced its quarterly earnings data on Wednesday, July 31st. The auto parts company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.10. The business had revenue of $222.24 million for the quarter, compared to analysts’ expectations of $203.81 million. Stoneridge had a net margin of 5.84% and a return on equity of 20.46%. The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same period last year, the firm posted $0.55 earnings per share. Sell-side analysts expect that Stoneridge, Inc. will post 1.66 earnings per share for the current fiscal year.
Stoneridge, Inc designs and manufactures engineered electrical and electronic components, modules, and systems for the automotive, commercial, off-highway, motorcycle, and agricultural vehicle markets. The company operates in three segments: Control Devices, Electronics, and PST. The Control Devices segment offers sensors, switches, valves, and actuators that monitor, measure, or activate specific functions within a vehicle.
Featured Story: Conference Calls
Want to see what other hedge funds are holding SRI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stoneridge, Inc. (NYSE:SRI).
Receive News & Ratings for Stoneridge Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stoneridge and related companies with MarketBeat.com's FREE daily email newsletter.