Geode Capital Management LLC Boosts Position in Stoneridge, Inc. (SRI)
Geode Capital Management LLC increased its stake in shares of Stoneridge, Inc. (NYSE:SRI) by 3.5% during the first quarter, Holdings Channel reports. The fund owned 244,885 shares of the auto parts company’s stock after buying an additional 8,355 shares during the period. Geode Capital Management LLC’s holdings in Stoneridge were worth $4,442,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Norges Bank bought a new stake in Stoneridge during the fourth quarter valued at $5,109,000. Teachers Advisors LLC boosted its stake in Stoneridge by 9.2% in the fourth quarter. Teachers Advisors LLC now owns 46,212 shares of the auto parts company’s stock valued at $817,000 after buying an additional 3,876 shares during the last quarter. Highbridge Capital Management LLC bought a new stake in Stoneridge during the fourth quarter valued at $182,000. Nationwide Fund Advisors boosted its stake in Stoneridge by 22.9% in the first quarter. Nationwide Fund Advisors now owns 171,175 shares of the auto parts company’s stock valued at $3,105,000 after buying an additional 31,896 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in Stoneridge by 55.0% in the first quarter. Russell Investments Group Ltd. now owns 109,572 shares of the auto parts company’s stock valued at $1,988,000 after buying an additional 38,872 shares during the last quarter. Hedge funds and other institutional investors own 89.37% of the company’s stock.
Shares of Stoneridge, Inc. (SRI) traded up 0.66% during midday trading on Tuesday, hitting $16.66. 7,355 shares of the stock traded hands. Stoneridge, Inc. has a 52 week low of $13.42 and a 52 week high of $20.82. The company has a market capitalization of $469.30 million, a price-to-earnings ratio of 6.17 and a beta of 1.33. The firm’s 50-day moving average is $15.73 and its 200 day moving average is $16.86.
Stoneridge (NYSE:SRI) last released its quarterly earnings data on Wednesday, August 2nd. The auto parts company reported $0.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.10. Stoneridge had a return on equity of 22.52% and a net margin of 10.12%. The company had revenue of $209.10 million during the quarter, compared to the consensus estimate of $202.45 million. During the same quarter in the prior year, the firm posted $0.41 earnings per share. The firm’s revenue was up 11.9% compared to the same quarter last year. Equities analysts forecast that Stoneridge, Inc. will post $1.46 earnings per share for the current year.
SRI has been the subject of several research reports. Zacks Investment Research cut shares of Stoneridge from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 4th. B. Riley reiterated a “buy” rating and set a $22.00 price target on shares of Stoneridge in a research report on Monday, May 8th. ValuEngine cut shares of Stoneridge from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. Finally, BidaskClub cut shares of Stoneridge from a “sell” rating to a “strong sell” rating in a research report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. Stoneridge currently has a consensus rating of “Hold” and a consensus price target of $18.67.
In other Stoneridge news, insider Peter Kruk sold 22,000 shares of the stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $16.63, for a total transaction of $365,860.00. Following the completion of the sale, the insider now owns 20,047 shares of the company’s stock, valued at approximately $333,381.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.30% of the company’s stock.
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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