Systematic Financial Management LP Cuts Position in Stoneridge, Inc. (NYSE:SRI)

Systematic Financial Management LP lessened its stake in Stoneridge, Inc. (NYSE:SRI) by 2.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 278,320 shares of the auto parts company’s stock after selling 7,888 shares during the quarter. Systematic Financial Management LP owned 1.02% of Stoneridge worth $8,210,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Lake Point Wealth Management purchased a new position in Stoneridge during the 2nd quarter valued at about $31,000. Sowell Financial Services LLC purchased a new position in Stoneridge during the 1st quarter valued at about $54,000. Victory Capital Management Inc. purchased a new position in Stoneridge during the 1st quarter valued at about $120,000. Royal Bank of Canada increased its holdings in Stoneridge by 45.5% during the 1st quarter. Royal Bank of Canada now owns 4,027 shares of the auto parts company’s stock valued at $129,000 after acquiring an additional 1,260 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in Stoneridge during the 1st quarter valued at about $209,000. Institutional investors and hedge funds own 95.43% of the company’s stock.

In related news, insider Laurent Borne sold 11,080 shares of the firm’s stock in a transaction that occurred on Tuesday, August 17th. The shares were sold at an average price of $24.68, for a total value of $273,454.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.90% of the stock is currently owned by company insiders.

Shares of Stoneridge stock traded down $0.08 during mid-day trading on Friday, hitting $20.33. 129,072 shares of the stock were exchanged, compared to its average volume of 121,438. The company has a 50-day simple moving average of $24.29 and a 200 day simple moving average of $29.14. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.40. Stoneridge, Inc. has a twelve month low of $17.50 and a twelve month high of $38.20. The stock has a market capitalization of $552.24 million, a price-to-earnings ratio of 18.48 and a beta of 1.40.

Stoneridge (NYSE:SRI) last released its earnings results on Wednesday, August 4th. The auto parts company reported ($0.14) earnings per share (EPS) for the quarter. Stoneridge had a return on equity of 2.20% and a net margin of 4.03%. The company had revenue of $191.33 million during the quarter, compared to analyst estimates of $185.91 million. During the same period in the prior year, the business posted ($0.55) earnings per share. Stoneridge’s revenue was up 92.2% on a year-over-year basis. Equities research analysts forecast that Stoneridge, Inc. will post 0.18 earnings per share for the current fiscal year.

Separately, Zacks Investment Research cut shares of Stoneridge from a “hold” rating to a “sell” rating in a research note on Thursday, June 17th.

Stoneridge Company Profile

Stoneridge, Inc engages in the production of engineered electrical and electronic components, modules, and systems for the automotive, commercial, off-highway, motorcycle, and agricultural vehicle markets. It operates through the following segments: Control Devices, Electronics, and Stoneridge Brazil.

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Institutional Ownership by Quarter for Stoneridge (NYSE:SRI)

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