Schwab Charles Investment Management Inc. increased its stake in shares of Stoneridge, Inc. (NYSE:SRI) by 5.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 118,169 shares of the auto parts company’s stock after purchasing an additional 5,780 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.42% of Stoneridge worth $2,341,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Renaissance Technologies LLC raised its stake in Stoneridge by 33.4% in the second quarter. Renaissance Technologies LLC now owns 835,600 shares of the auto parts company’s stock valued at $12,877,000 after buying an additional 209,000 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Stoneridge by 13.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,756,176 shares of the auto parts company’s stock valued at $27,063,000 after buying an additional 207,761 shares during the last quarter. Walthausen & Co. LLC raised its stake in Stoneridge by 24.0% in the second quarter. Walthausen & Co. LLC now owns 678,270 shares of the auto parts company’s stock valued at $10,452,000 after buying an additional 131,490 shares during the last quarter. Shell Asset Management Co. purchased a new stake in Stoneridge in the third quarter valued at about $843,000. Finally, OxFORD Asset Management LLP raised its stake in Stoneridge by 33.5% in the second quarter. OxFORD Asset Management LLP now owns 228,535 shares of the auto parts company’s stock valued at $3,522,000 after buying an additional 57,363 shares during the last quarter. Hedge funds and other institutional investors own 86.98% of the company’s stock.
Shares of Stoneridge, Inc. (NYSE SRI) opened at $25.45 on Friday. The company has a quick ratio of 1.65, a current ratio of 2.24 and a debt-to-equity ratio of 0.58. Stoneridge, Inc. has a 12 month low of $14.16 and a 12 month high of $26.05. The company has a market capitalization of $732.73, a PE ratio of 9.71 and a beta of 1.45.
Stoneridge (NYSE:SRI) last released its quarterly earnings results on Wednesday, November 1st. The auto parts company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.04. Stoneridge had a return on equity of 20.37% and a net margin of 9.45%. The company had revenue of $203.60 million during the quarter, compared to analysts’ expectations of $192.80 million. During the same period last year, the business posted $0.36 earnings per share. The firm’s revenue was up 17.1% compared to the same quarter last year. equities research analysts predict that Stoneridge, Inc. will post 1.5 EPS for the current year.
A number of equities research analysts have commented on SRI shares. Zacks Investment Research cut Stoneridge from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. KeyCorp reiterated a “hold” rating on shares of Stoneridge in a research note on Friday, November 17th. B. Riley reiterated a “neutral” rating on shares of Stoneridge in a research note on Friday, November 3rd. Finally, ValuEngine upgraded Stoneridge from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $24.50.
In other news, VP Thomas A. Beaver sold 49,779 shares of the stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $21.51, for a total value of $1,070,746.29. Following the transaction, the vice president now directly owns 76,529 shares of the company’s stock, valued at $1,646,138.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.30% of the stock is currently owned by corporate insiders.
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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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