Axa Has $1.75 Million Stake in Stoneridge, Inc. (SRI)
Axa lessened its holdings in shares of Stoneridge, Inc. (NYSE:SRI) by 1.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 113,800 shares of the auto parts company’s stock after selling 1,800 shares during the quarter. Axa owned approximately 0.40% of Stoneridge worth $1,754,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. Legal & General Group Plc boosted its stake in shares of Stoneridge by 12.2% during the 1st quarter. Legal & General Group Plc now owns 7,077 shares of the auto parts company’s stock worth $128,000 after acquiring an additional 772 shares during the last quarter. CAPROCK Group Inc. purchased a new position in shares of Stoneridge during the 2nd quarter worth $157,000. Eqis Capital Management Inc. purchased a new position in shares of Stoneridge during the 2nd quarter worth $162,000. Hancock Holding Co. purchased a new position in shares of Stoneridge during the 1st quarter worth $201,000. Finally, Citadel Advisors LLC purchased a new position in shares of Stoneridge during the 1st quarter worth $208,000. Institutional investors and hedge funds own 87.83% of the company’s stock.
In other Stoneridge news, insider Robert J. Jr. Hartman sold 7,358 shares of the stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $16.51, for a total transaction of $121,480.58. Following the transaction, the insider now directly owns 37,281 shares of the company’s stock, valued at $615,509.31. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Michael D. Sloan sold 30,000 shares of the stock in a transaction on Monday, August 14th. The shares were sold at an average price of $16.30, for a total transaction of $489,000.00. Following the transaction, the vice president now directly owns 34,223 shares in the company, valued at $557,834.90. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by company insiders.
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A number of research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Stoneridge from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 11th. BidaskClub cut shares of Stoneridge from a “sell” rating to a “strong sell” rating in a research note on Friday, August 4th. Finally, ValuEngine upgraded shares of Stoneridge from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $18.67.
Stoneridge, Inc. (SRI) opened at 17.97 on Thursday. Stoneridge, Inc. has a 1-year low of $13.42 and a 1-year high of $20.82. The stock has a market cap of $506.20 million, a PE ratio of 6.65 and a beta of 1.33. The company’s 50 day moving average is $16.59 and its 200-day moving average is $16.79.
Stoneridge (NYSE:SRI) last released its quarterly earnings results on Wednesday, August 2nd. The auto parts company reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.10. The company had revenue of $209.10 million for the quarter, compared to analyst estimates of $202.45 million. Stoneridge had a net margin of 10.12% and a return on equity of 22.52%. The firm’s revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the business earned $0.41 earnings per share. Equities research analysts forecast that Stoneridge, Inc. will post $1.46 earnings per share for the current fiscal year.
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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