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.
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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.
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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