Alliancebernstein L.P. boosted its stake in shares of Stoneridge, Inc. (NYSE:SRI) by 0.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 109,790 shares of the auto parts company’s stock after buying an additional 900 shares during the period. Alliancebernstein L.P. owned about 0.39% of Stoneridge worth $1,992,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. American International Group Inc. increased its position in shares of Stoneridge by 7.0% in the first quarter. American International Group Inc. now owns 16,522 shares of the auto parts company’s stock valued at $300,000 after buying an additional 1,087 shares during the period. Sawtooth Solutions LLC increased its position in shares of Stoneridge by 4.9% in the first quarter. Sawtooth Solutions LLC now owns 23,899 shares of the auto parts company’s stock valued at $434,000 after buying an additional 1,111 shares during the period. Alambic Investment Management L.P. increased its position in shares of Stoneridge by 9.3% in the first quarter. Alambic Investment Management L.P. now owns 14,100 shares of the auto parts company’s stock valued at $256,000 after buying an additional 1,200 shares during the period. Envestnet Asset Management Inc. increased 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 during the period. Finally, Acrospire Investment Management LLC increased 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 during the period. 89.37% of the stock is owned by institutional investors.
Shares of Stoneridge, Inc. (NYSE:SRI) traded up 1.60% during midday trading on Monday, reaching $16.55. 137,632 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $15.67 and a 200-day moving average of $16.86. The company has a market capitalization of $466.20 million, a PE ratio of 6.13 and a beta of 1.33. Stoneridge, Inc. has a 1-year low of $13.42 and a 1-year high of $20.82.
Stoneridge (NYSE:SRI) last posted its quarterly earnings results on Wednesday, August 2nd. The auto parts company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.10. The business had revenue of $209.10 million for the quarter, compared to analysts’ expectations of $202.45 million. Stoneridge had a return on equity of 22.52% and a net margin of 10.12%. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.41 earnings per share. Equities analysts expect that Stoneridge, Inc. will post $1.46 earnings per share for the current fiscal year.
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Several equities research analysts recently weighed in on the stock. BidaskClub downgraded shares of Stoneridge from a “sell” rating to a “strong sell” rating in a report on Friday, August 4th. Zacks Investment Research raised shares of Stoneridge from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a report on Wednesday, August 2nd. ValuEngine raised shares of Stoneridge from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Finally, B. Riley reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Stoneridge in a report on Saturday, May 13th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. Stoneridge currently has a consensus rating of “Hold” and an average price target of $18.67.
In related news, insider Peter Kruk sold 22,000 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $16.63, for a total value of $365,860.00. Following the transaction, the insider now owns 20,047 shares in the company, valued at $333,381.61. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.30% of the stock is owned by company insiders.
Stoneridge Company Profile
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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