First Quadrant L P CA raised its stake in shares of Stoneridge, Inc. (NYSE:SRI) by 277.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,190 shares of the auto parts company’s stock after buying an additional 22,190 shares during the period. First Quadrant L P CA owned about 0.11% of Stoneridge worth $465,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Legal & General Group Plc raised its position in shares of Stoneridge by 12.2% in the first quarter. Legal & General Group Plc now owns 7,077 shares of the auto parts company’s stock valued at $128,000 after buying an additional 772 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Stoneridge by 19.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 8,750 shares of the auto parts company’s stock valued at $155,000 after buying an additional 1,400 shares in the last quarter. Eqis Capital Management Inc. acquired a new position in shares of Stoneridge during the second quarter valued at about $162,000. Highbridge Capital Management LLC acquired a new position in shares of Stoneridge during the fourth quarter valued at about $182,000. Finally, Acrospire Investment Management LLC raised its position in shares of Stoneridge by 21.8% in the first quarter. Acrospire Investment Management LLC now owns 10,479 shares of the auto parts company’s stock valued at $190,000 after buying an additional 1,876 shares in the last quarter. Institutional investors and hedge funds own 89.40% of the company’s stock.
Shares of Stoneridge, Inc. (SRI) traded down 1.74% during trading on Friday, hitting $15.28. The company had a trading volume of 67,324 shares. The stock has a market capitalization of $430.03 million, a price-to-earnings ratio of 5.47 and a beta of 1.33. Stoneridge, Inc. has a 12-month low of $13.42 and a 12-month high of $20.82. The stock has a 50-day moving average of $15.25 and a 200 day moving average of $16.93.
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SRI has been the subject of several research analyst reports. B. Riley reiterated a “buy” rating and issued a $22.00 price objective on shares of Stoneridge in a research report on Saturday, May 13th. ValuEngine upgraded Stoneridge from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Finally, Zacks Investment Research upgraded Stoneridge from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 11th.
In other Stoneridge news, insider Peter Kruk sold 22,000 shares of Stoneridge stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $16.63, for a total value of $365,860.00. Following the completion of the sale, the insider now directly owns 20,047 shares in the company, valued at $333,381.61. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 5.30% of the company’s stock.
About Stoneridge
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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