Acadian Asset Management LLC Sells 339,518 Shares of Stoneridge, Inc. (SRI)
Acadian Asset Management LLC cut its stake in shares of Stoneridge, Inc. (NYSE:SRI) by 76.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 107,231 shares of the auto parts company’s stock after selling 339,518 shares during the period. Acadian Asset Management LLC owned about 0.38% of Stoneridge worth $1,652,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of SRI. State Street Corp increased its position in shares of Stoneridge by 2.3% in the fourth quarter. State Street Corp now owns 577,753 shares of the auto parts company’s stock valued at $10,222,000 after buying an additional 12,849 shares during the period. Norges Bank acquired a new position in shares of Stoneridge during the fourth quarter valued at $5,109,000. Teachers Advisors LLC increased its position in shares of 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 period. Highbridge Capital Management LLC acquired a new position in shares of Stoneridge during the fourth quarter valued at $182,000. Finally, Nationwide Fund Advisors increased its position in shares of 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 period. Institutional investors own 89.37% of the company’s stock.
Stoneridge, Inc. (NYSE SRI) traded up 0.56% during mid-day trading on Friday, hitting $16.19. The stock had a trading volume of 135,334 shares. Stoneridge, Inc. has a one year low of $13.42 and a one year high of $20.82. The firm’s 50-day moving average is $15.84 and its 200 day moving average is $16.85. The stock has a market cap of $456.06 million, a PE ratio of 5.99 and a beta of 1.33.
Stoneridge (NYSE:SRI) last released its 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. Stoneridge had a net margin of 10.12% and a return on equity of 22.52%. 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 earned $0.41 EPS. The company’s revenue was up 11.9% compared to the same quarter last year. Equities research analysts expect that Stoneridge, Inc. will post $1.46 EPS for the current year.
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Several research analysts have weighed in on SRI shares. Zacks Investment Research downgraded Stoneridge from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 4th. B. Riley reiterated a “buy” rating and issued a $22.00 price target on shares of Stoneridge in a report on Monday, May 8th. ValuEngine downgraded Stoneridge from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. Finally, BidaskClub downgraded Stoneridge from a “sell” rating to a “strong sell” rating in a report on Friday, August 4th. 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 stock. The stock presently has a consensus rating of “Hold” and an average target price of $18.67.
In other Stoneridge news, VP Michael D. Sloan sold 30,000 shares of the stock in a transaction that occurred on 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 legal filing with the SEC, which can be accessed through this link. 5.30% of the stock is owned by corporate insiders.
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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