Peter Kruk Sells 22,000 Shares of Stoneridge, Inc. (SRI) Stock
Stoneridge, Inc. (NYSE:SRI) insider Peter Kruk sold 22,000 shares of the firm’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $16.63, for a total value of $365,860.00. Following the sale, the insider now directly owns 20,047 shares of the company’s stock, valued at $333,381.61. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Shares of Stoneridge, Inc. (NYSE:SRI) traded down 2.23% on Thursday, reaching $16.24. The company’s stock had a trading volume of 68,011 shares. The firm has a 50 day moving average of $18.14 and a 200 day moving average of $17.39. The company has a market cap of $457.04 million, a PE ratio of 5.81 and a beta of 1.48. Stoneridge, Inc. has a 52-week low of $13.42 and a 52-week high of $20.82.
Stoneridge (NYSE:SRI) last announced its quarterly earnings results on Thursday, March 2nd. The auto parts company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.04. The company had revenue of $172.60 million during the quarter, compared to the consensus estimate of $170.07 million. Stoneridge had a net margin of 5.19% and a return on equity of 29.86%. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.25 earnings per share. Analysts predict that Stoneridge, Inc. will post $1.28 earnings per share for the current year.
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SRI has been the subject of a number of recent analyst reports. B. Riley reaffirmed a “buy” rating and set a $21.50 price target on shares of Stoneridge in a report on Wednesday, March 1st. Zacks Investment Research upgraded Stoneridge from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research report on Thursday, March 2nd.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Legal & General Group Plc increased 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 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. Highbridge Capital Management LLC bought a new position in shares of Stoneridge during the fourth quarter valued at about $182,000. 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. Finally, Hancock Holding Co. bought a new position in shares of Stoneridge during the first quarter valued at about $201,000. Institutional investors own 87.97% of the company’s stock.
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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