Northpointe Capital LLC lowered its position in shares of Stoneridge Inc. (NYSE:SRI) by 9.5% during the second quarter, Holdings Channel reports. The fund owned 794,461 shares of the company’s stock after selling 83,758 shares during the period. Stoneridge makes up approximately 1.4% of Northpointe Capital LLC’s investment portfolio, making the stock its 15th largest position. Northpointe Capital LLC’s holdings in Stoneridge were worth $11,869,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. increased its position in Stoneridge by 0.4% in the first quarter. Envestnet Asset Management Inc. now owns 8,656 shares of the company’s stock worth $126,000 after buying an additional 33 shares during the last quarter. Royal Bank of Canada increased its position in Stoneridge by 20.0% in the first quarter. Royal Bank of Canada now owns 10,276 shares of the company’s stock worth $150,000 after buying an additional 1,710 shares during the last quarter. Acadian Asset Management LLC acquired a new position in Stoneridge during the first quarter worth about $330,000. Lucus Advisors LLC acquired a new position in Stoneridge during the second quarter worth about $346,000. Finally, Commonwealth Equity Services Inc increased its position in Stoneridge by 35.0% in the first quarter. Commonwealth Equity Services Inc now owns 25,533 shares of the company’s stock worth $372,000 after buying an additional 6,613 shares during the last quarter. Institutional investors own 85.24% of the company’s stock.
Shares of Stoneridge Inc. (NYSE:SRI) traded up 0.05% during mid-day trading on Monday, reaching $18.41. 211,119 shares of the company’s stock traded hands. The company has a 50 day moving average of $17.88 and a 200 day moving average of $16.03. Stoneridge Inc. has a 12 month low of $10.51 and a 12 month high of $19.20. The company has a market cap of $512.57 million, a price-to-earnings ratio of 16.05 and a beta of 1.94.
Stoneridge (NYSE:SRI) last released its earnings results on Tuesday, August 2nd. The company reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.09. Stoneridge had a return on equity of 30.33% and a net margin of 4.84%. The firm 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 business posted $0.25 earnings per share. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. Analysts expect that Stoneridge Inc. will post $1.37 earnings per share for the current fiscal year.
A number of research firms have issued reports on SRI. B. Riley restated a “buy” rating and set a $19.00 target price on shares of Stoneridge in a research report on Monday, August 1st. FBR & Co reiterated a “hold” rating and issued a $13.00 price target on shares of Stoneridge in a research report on Thursday, August 4th. Finally, Zacks Investment Research upgraded shares of Stoneridge from a “hold” rating to a “strong-buy” rating and set a $21.00 price target on the stock in a research report on Wednesday, August 3rd. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $17.60.
In other Stoneridge news, VP Thomas A. Beaver sold 40,000 shares of Stoneridge stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $18.25, for a total value of $730,000.00. Following the transaction, the vice president now owns 85,667 shares in the company, valued at $1,563,422.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Richard P. Adante sold 6,771 shares of Stoneridge stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $17.95, for a total value of $121,539.45. Following the completion of the transaction, 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 owned by company insiders.
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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