Numeric Investors LLC Sells 303,203 Shares of Stoneridge, Inc. (SRI)
Numeric Investors LLC cut its holdings in Stoneridge, Inc. (NYSE:SRI) by 33.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 606,405 shares of the auto parts company’s stock after selling 303,203 shares during the period. Numeric Investors LLC owned approximately 2.15% of Stoneridge worth $9,345,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Marshall Wace North America L.P. lifted its stake in Stoneridge by 34.0% in the second quarter. Marshall Wace North America L.P. now owns 57,523 shares of the auto parts company’s stock worth $863,000 after purchasing an additional 14,606 shares during the last quarter. Royce & Associates LP lifted its stake in Stoneridge by 343.7% in the second quarter. Royce & Associates LP now owns 1,235,737 shares of the auto parts company’s stock worth $19,043,000 after purchasing an additional 957,237 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Stoneridge by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,548,415 shares of the auto parts company’s stock worth $28,088,000 after purchasing an additional 5,670 shares during the last quarter. Morgan Stanley lifted its stake in Stoneridge by 1.5% in the first quarter. Morgan Stanley now owns 119,238 shares of the auto parts company’s stock worth $2,163,000 after purchasing an additional 1,725 shares during the last quarter. Finally, Kennedy Capital Management Inc. bought a new stake in Stoneridge in the second quarter worth $2,732,000. 87.83% of the stock is owned by institutional investors and hedge funds.
Stoneridge, Inc. (NYSE:SRI) opened at 19.81 on Friday. Stoneridge, Inc. has a 52-week low of $13.42 and a 52-week high of $20.82. The firm has a 50 day moving average of $16.59 and a 200-day moving average of $16.79. The stock has a market cap of $558.03 million, a PE ratio of 7.33 and a beta of 1.33.
Stoneridge (NYSE:SRI) last released its quarterly earnings data 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 business had revenue of $209.10 million during 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%. Stoneridge’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.41 earnings per share. Equities analysts anticipate that Stoneridge, Inc. will post $1.46 earnings per share for the current fiscal year.
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In other news, VP Michael D. Sloan sold 30,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $16.30, for a total value of $489,000.00. Following the completion of the sale, the vice president now owns 34,223 shares in the company, valued at approximately $557,834.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert J. Jr. Hartman sold 7,358 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $16.51, for a total transaction of $121,480.58. Following the completion of the sale, the insider now owns 37,281 shares of the company’s stock, valued at approximately $615,509.31. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by company insiders.
SRI has been the subject of several recent research reports. Zacks Investment Research raised shares of Stoneridge from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 11th. ValuEngine downgraded shares of Stoneridge from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. Finally, BidaskClub downgraded shares of Stoneridge from a “sell” rating to a “strong sell” rating in a research note on Friday, August 4th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. Stoneridge 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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