Ameriprise Financial Inc. Buys New Holdings in Stoneridge, Inc. (SRI)

Ameriprise Financial Inc. bought a new stake in Stoneridge, Inc. (NYSE:SRI) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 28,590 shares of the auto parts company’s stock, valued at approximately $440,000. Ameriprise Financial Inc. owned about 0.10% of Stoneridge as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in SRI. Legal & General Group Plc raised its holdings 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 during the last quarter. CAPROCK Group Inc. purchased a new stake in shares of Stoneridge in the second quarter valued at about $157,000. Eqis Capital Management Inc. purchased a new stake in shares of Stoneridge in the second quarter valued at about $162,000. SG Americas Securities LLC purchased a new stake in shares of Stoneridge in the second quarter valued at about $217,000. Finally, American International Group Inc. raised its holdings 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 last quarter. 86.23% of the stock is owned by institutional investors and hedge funds.

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 sale, the insider now directly owns 37,281 shares in the company, valued at $615,509.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 sale, the vice president now owns 76,529 shares in the company, valued at $1,646,138.79. The disclosure for this sale can be found here. Corporate insiders own 5.30% of the company’s stock.

WARNING: “Ameriprise Financial Inc. Buys New Holdings in Stoneridge, Inc. (SRI)” was first posted by TrueBlueTribune and is owned by of TrueBlueTribune. If you are viewing this article on another publication, it was illegally stolen and republished in violation of US and international copyright and trademark laws. The original version of this article can be viewed at https://www.truebluetribune.com/2017/11/14/ameriprise-financial-inc-buys-new-holdings-in-stoneridge-inc-sri.html.

Stoneridge, Inc. (NYSE SRI) opened at $21.76 on Tuesday. The company has a current ratio of 2.24, a quick ratio of 1.65 and a debt-to-equity ratio of 0.58. Stoneridge, Inc. has a 1 year low of $14.16 and a 1 year high of $22.99. The firm has a market cap of $607.93, a PE ratio of 14.39 and a beta of 1.48.

Stoneridge (NYSE:SRI) last issued its earnings results on Wednesday, November 1st. The auto parts company reported $0.36 earnings per share 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 analyst estimates of $192.80 million. During the same period in the prior year, the business posted $0.36 earnings per share. The firm’s revenue for the quarter was up 17.1% compared to the same quarter last year. equities analysts anticipate that Stoneridge, Inc. will post 1.51 EPS for the current fiscal year.

SRI has been the topic of a number of recent analyst reports. KeyCorp reiterated a “hold” rating on shares of Stoneridge in a research note on Sunday, October 15th. Zacks Investment Research lowered shares of Stoneridge from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. BidaskClub lowered shares of Stoneridge from a “sell” rating to a “strong sell” rating in a research note on Friday, August 4th. Finally, B. Riley reiterated a “neutral” rating on shares of Stoneridge in a research note on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $23.50.

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.

Institutional Ownership by Quarter for Stoneridge (NYSE:SRI)

Receive News & Ratings for Stoneridge Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stoneridge Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply