Capital Fund Management S.A. Has $305,000 Position in Stoneridge, Inc. (SRI)
Capital Fund Management S.A. increased its holdings in Stoneridge, Inc. (NYSE:SRI) by 29.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,800 shares of the auto parts company’s stock after purchasing an additional 4,500 shares during the quarter. Capital Fund Management S.A. owned approximately 0.07% of Stoneridge worth $305,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the stock. Kennedy Capital Management Inc. bought a new stake in shares of Stoneridge in the second quarter worth $2,732,000. LSV Asset Management boosted its position in Stoneridge by 6.5% during the second quarter. LSV Asset Management now owns 745,300 shares of the auto parts company’s stock valued at $11,485,000 after acquiring an additional 45,600 shares during the last quarter. Adirondack Research & Management Inc. boosted its position in Stoneridge by 152.1% during the second quarter. Adirondack Research & Management Inc. now owns 182,594 shares of the auto parts company’s stock valued at $2,814,000 after acquiring an additional 110,166 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Stoneridge by 4.1% during the second quarter. JPMorgan Chase & Co. now owns 1,054,612 shares of the auto parts company’s stock valued at $16,252,000 after acquiring an additional 42,020 shares during the last quarter. Finally, IndexIQ Advisors LLC bought a new stake in Stoneridge during the second quarter valued at $402,000. 87.83% of the stock is currently owned by institutional investors.
Stoneridge, Inc. (NYSE SRI) opened at 18.29 on Wednesday. The firm has a market cap of $515.21 million, a price-to-earnings ratio of 6.77 and a beta of 1.33. The stock’s 50 day moving average is $16.59 and its 200 day moving average is $16.79. Stoneridge, Inc. has a one year low of $13.42 and a one year high of $20.82.
Stoneridge (NYSE:SRI) last announced its quarterly earnings results on Wednesday, August 2nd. The auto parts company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.10. The business 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 company’s revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.41 EPS. On average, analysts predict that Stoneridge, Inc. will post $1.46 earnings per share for the current fiscal year.
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In other news, insider Robert J. Jr. Hartman sold 7,358 shares of Stoneridge stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $16.51, for a total transaction of $121,480.58. Following the sale, the insider now owns 37,281 shares of the company’s stock, valued at approximately $615,509.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael D. Sloan sold 30,000 shares of Stoneridge stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $16.30, for a total transaction of $489,000.00. Following the sale, the vice president now directly owns 34,223 shares in the company, valued at approximately $557,834.90. The disclosure for this sale can be found here. Insiders own 5.30% of the company’s stock.
A number of analysts have commented on the stock. BidaskClub cut shares of Stoneridge from a “sell” rating to a “strong sell” rating in a research report on Friday, August 4th. Zacks Investment Research raised shares of Stoneridge from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Wednesday, August 2nd. Finally, ValuEngine raised shares of Stoneridge from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $18.67.
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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