Russell Investments Group Ltd. cut its position in Stoneridge, Inc. (NYSE:SRI) by 58.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 46,109 shares of the auto parts company’s stock after selling 65,203 shares during the period. Russell Investments Group Ltd. owned approximately 0.16% of Stoneridge worth $1,379,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. United Services Automobile Association acquired a new stake in Stoneridge during the second quarter worth about $252,000. Sei Investments Co. grew its holdings in Stoneridge by 31,903.8% during the second quarter. Sei Investments Co. now owns 8,321 shares of the auto parts company’s stock worth $292,000 after acquiring an additional 8,295 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in Stoneridge during the second quarter worth about $313,000. First Quadrant L P CA grew its holdings in Stoneridge by 47.1% during the third quarter. First Quadrant L P CA now owns 9,286 shares of the auto parts company’s stock worth $276,000 after acquiring an additional 2,974 shares during the period. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in Stoneridge during the second quarter worth about $448,000. 93.83% of the stock is currently owned by institutional investors and hedge funds.
SRI has been the topic of several analyst reports. Zacks Investment Research raised Stoneridge from a “sell” rating to a “hold” rating in a report on Friday, November 16th. ValuEngine lowered Stoneridge from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. Stephens set a $35.00 target price on Stoneridge and gave the stock a “buy” rating in a report on Tuesday, October 30th. Buckingham Research dropped their target price on Stoneridge from $37.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, October 3rd. Finally, Barrington Research set a $50.00 target price on Stoneridge and gave the stock a “buy” rating in a report on Monday, October 29th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. Stoneridge has a consensus rating of “Hold” and an average target price of $34.17.
Shares of SRI stock opened at $24.63 on Friday. The company has a market cap of $722.65 million, a price-to-earnings ratio of 13.08, a price-to-earnings-growth ratio of 1.47 and a beta of 1.12. 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 12-month low of $21.17 and a 12-month high of $37.69.
Stoneridge (NYSE:SRI) last issued its quarterly earnings results 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. The company had revenue of $208.90 million for the quarter, compared to the consensus estimate of $204.36 million. Stoneridge had a return on equity of 21.77% and a net margin of 7.09%. Stoneridge’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.36 earnings per share. On average, research analysts predict that Stoneridge, Inc. will post 2.03 EPS for the current year.
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.
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