Stoneridge, Inc. (SRI) Position Reduced by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL decreased its holdings in shares of Stoneridge, Inc. (NYSE:SRI) by 9.1% during the third quarter, according to its most recent filing with the SEC. The firm owned 336,200 shares of the auto parts company’s stock after selling 33,800 shares during the period. Gamco Investors INC. ET AL owned 1.18% of Stoneridge worth $9,992,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. BlackRock Inc. increased its position in Stoneridge by 5.2% during the 2nd quarter. BlackRock Inc. now owns 2,116,009 shares of the auto parts company’s stock valued at $74,355,000 after purchasing an additional 105,480 shares during the period. Dimensional Fund Advisors LP increased its position in Stoneridge by 0.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,966,938 shares of the auto parts company’s stock valued at $69,119,000 after purchasing an additional 18,458 shares during the period. Massachusetts Financial Services Co. MA increased its position in Stoneridge by 145.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,168,404 shares of the auto parts company’s stock valued at $34,725,000 after purchasing an additional 692,760 shares during the period. Renaissance Technologies LLC increased its position in Stoneridge by 13.1% during the 2nd quarter. Renaissance Technologies LLC now owns 831,200 shares of the auto parts company’s stock valued at $29,208,000 after purchasing an additional 96,400 shares during the period. Finally, Acadian Asset Management LLC increased its position in Stoneridge by 73.0% during the 2nd quarter. Acadian Asset Management LLC now owns 772,025 shares of the auto parts company’s stock valued at $27,129,000 after purchasing an additional 325,870 shares during the period. 91.96% of the stock is currently owned by institutional investors and hedge funds.

Shares of Stoneridge stock opened at $25.89 on Friday. The company has a current ratio of 2.20, a quick ratio of 1.60 and a debt-to-equity ratio of 0.38. Stoneridge, Inc. has a 52-week low of $20.78 and a 52-week high of $37.69. The company has a market capitalization of $724.93 million, a PE ratio of 16.49, a PEG ratio of 1.47 and a beta of 1.10.

Stoneridge (NYSE:SRI) last issued its quarterly earnings data on Friday, October 26th. The auto parts company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.04. Stoneridge had a net margin of 7.09% and a return on equity of 21.77%. The firm had revenue of $208.90 million for the quarter, compared to the consensus estimate of $204.36 million. During the same quarter in the previous year, the firm earned $0.36 EPS. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, equities research analysts expect that Stoneridge, Inc. will post 2.04 earnings per share for the current fiscal year.

A number of research analysts have commented on SRI shares. Barrington Research reissued a “buy” rating and set a $50.00 target price on shares of Stoneridge in a research report on Tuesday, July 31st. ValuEngine downgraded shares of Stoneridge from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. Stephens set a $35.00 target price on shares of Stoneridge and gave the company a “buy” rating in a research report on Tuesday, October 30th. Zacks Investment Research downgraded shares of Stoneridge from a “hold” rating to a “sell” rating in a research report on Thursday, October 4th. Finally, Buckingham Research cut their target price on shares of Stoneridge from $37.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, October 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $34.17.

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About Stoneridge

Stoneridge, Inc designs and manufactures engineered electrical and electronic components, modules, and systems for the automotive, commercial, motorcycle, off-highway, and agricultural vehicle markets. It operates through three segments: Control Devices, Electronics, and PST. The Control Devices segment provides sensors, switches, valves, and actuators that monitor, measure, or activate specific functions within a vehicle.

Further Reading: Fundamental Analysis and Individual Investors

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Institutional Ownership by Quarter for Stoneridge (NYSE:SRI)

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