First Trust Advisors LP reduced its stake in shares of Stoneridge Inc. (NYSE:SRI) by 6.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 13,362 shares of the company’s stock after selling 908 shares during the period. First Trust Advisors LP’s holdings in Stoneridge were worth $200,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the stock. Royal Bank of Canada boosted its position in shares of Stoneridge by 20.0% in the first quarter. Royal Bank of Canada now owns 10,276 shares of the company’s stock valued at $150,000 after buying an additional 1,710 shares during the last quarter. Lucus Advisors LLC acquired a new position in shares of Stoneridge during the second quarter valued at $346,000. Commonwealth Equity Services Inc boosted its position in shares of Stoneridge by 35.0% in the first quarter. Commonwealth Equity Services Inc now owns 25,533 shares of the company’s stock valued at $372,000 after buying an additional 6,613 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of Stoneridge by 11.6% in the second quarter. State Board of Administration of Florida Retirement System now owns 25,389 shares of the company’s stock valued at $379,000 after buying an additional 2,634 shares during the last quarter. Finally, Spark Investment Management LLC acquired a new position in shares of Stoneridge during the first quarter valued at $422,000. 85.24% of the stock is currently owned by institutional investors and hedge funds.
Stoneridge Inc. (NYSE:SRI) traded down 0.965% during trading on Tuesday, hitting $17.965. 20,519 shares of the company’s stock traded hands. The company’s 50 day moving average is $18.18 and its 200-day moving average is $16.33. Stoneridge Inc. has a 12 month low of $10.51 and a 12 month high of $19.20. The stock has a market cap of $500.18 million, a P/E ratio of 15.663 and a beta of 1.94.
Stoneridge (NYSE:SRI) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.09. Stoneridge had a net margin of 4.84% and a return on equity of 30.33%. The company had revenue of $186.90 million for the quarter, compared to analysts’ expectations of $184.91 million. During the same quarter in the previous year, the company earned $0.25 earnings per share. Stoneridge’s quarterly revenue was up 13.1% on a year-over-year basis. On average, analysts predict that Stoneridge Inc. will post $1.37 earnings per share for the current year.
Several equities analysts recently weighed in on SRI shares. B. Riley reaffirmed a “buy” rating and issued a $19.00 price target on shares of Stoneridge in a research report on Tuesday, August 9th. Zacks Investment Research cut shares of Stoneridge from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 5th. Finally, FBR & Co reissued a “hold” rating and set a $13.00 target price on shares of Stoneridge in a research report on Thursday, August 4th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Stoneridge presently has a consensus rating of “Hold” and a consensus price target of $17.60.
In other Stoneridge news, VP Thomas A. Beaver sold 40,000 shares of the company’s stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $18.25, for a total value of $730,000.00. Following the sale, the vice president now owns 85,667 shares in the company, valued at $1,563,422.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Richard P. Adante sold 6,771 shares of the company’s stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $17.95, for a total transaction of $121,539.45. Following the completion of the sale, the vice president now owns 40,482 shares in the company, valued at approximately $726,651.90. The disclosure for this sale can be found here. 4.70% of the stock is currently owned by company insiders.
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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