Walthausen & Co. LLC Buys 131,490 Shares of Stoneridge, Inc. (SRI)
Walthausen & Co. LLC boosted its stake in shares of Stoneridge, Inc. (NYSE:SRI) by 24.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 678,270 shares of the auto parts company’s stock after purchasing an additional 131,490 shares during the quarter. Walthausen & Co. LLC owned approximately 2.41% of Stoneridge worth $10,452,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Marshall Wace North America L.P. increased its holdings in Stoneridge by 34.0% during the 2nd 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 period. Royce & Associates LP increased its holdings in Stoneridge by 343.7% during the 2nd 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 period. Dimensional Fund Advisors LP increased its holdings in Stoneridge by 0.4% during the 1st 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 period. Morgan Stanley increased its holdings in Stoneridge by 1.5% during the 1st 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 period. Finally, Kennedy Capital Management Inc. purchased a new stake in Stoneridge during the 2nd quarter worth about $2,732,000. Institutional investors own 87.79% of the company’s stock.
In related news, VP Michael D. Sloan sold 30,000 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $16.30, for a total value of $489,000.00. Following the transaction, the vice president now owns 34,223 shares in the company, valued at $557,834.90. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Robert J. Jr. Hartman sold 7,358 shares of the business’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $16.51, for a total value of $121,480.58. Following the completion of the transaction, the insider now owns 37,281 shares in the company, valued at approximately $615,509.31. The disclosure for this sale can be found here. Insiders own 5.30% of the company’s stock.
Several brokerages have weighed in on SRI. Zacks Investment Research downgraded Stoneridge from a “buy” rating to a “hold” rating in a report on Thursday, October 5th. BidaskClub downgraded Stoneridge from a “sell” rating to a “strong sell” rating in a report on Friday, August 4th. Finally, ValuEngine upgraded Stoneridge from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $18.67.
Stoneridge, Inc. (NYSE:SRI) traded up 0.05% on Wednesday, hitting $21.69. The stock had a trading volume of 55,885 shares. Stoneridge, Inc. has a 12-month low of $13.42 and a 12-month high of $22.34. The firm has a market cap of $610.99 million, a PE ratio of 8.00 and a beta of 1.44. The company’s 50 day moving average is $18.23 and its 200 day moving average is $16.96.
Stoneridge (NYSE:SRI) last released its quarterly earnings results on Wednesday, August 2nd. The auto parts company reported $0.42 EPS for the quarter, topping 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 business had revenue of $209.10 million for the quarter, compared to analysts’ expectations of $202.45 million. During the same quarter in the previous year, the firm posted $0.41 earnings per share. The company’s revenue was up 11.9% compared to the same quarter last year. On average, equities research analysts expect that Stoneridge, Inc. will post $1.46 EPS for the current fiscal year.
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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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