Legal & General Group Plc Has $109,000 Position in Stoneridge, Inc. (SRI)
Legal & General Group Plc held its position in shares of Stoneridge, Inc. (NYSE:SRI) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 7,077 shares of the auto parts company’s stock at the end of the 2nd quarter. Legal & General Group Plc’s holdings in Stoneridge were worth $109,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CAPROCK Group Inc. bought a new position in shares of Stoneridge in the 2nd quarter valued at $157,000. Eqis Capital Management Inc. bought a new position in shares of Stoneridge in the 2nd quarter valued at $162,000. Citadel Advisors LLC bought a new position in shares of Stoneridge in the 1st quarter valued at $208,000. SG Americas Securities LLC bought a new position in shares of Stoneridge in the 2nd quarter valued at $217,000. Finally, American International Group Inc. lifted its stake in shares of Stoneridge by 7.0% in the 1st quarter. American International Group Inc. now owns 16,522 shares of the auto parts company’s stock valued at $300,000 after acquiring an additional 1,087 shares during the last quarter. Hedge funds and other institutional investors own 87.79% of the company’s stock.
In other Stoneridge news, VP Michael D. Sloan sold 30,000 shares of the business’s stock in a transaction 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 directly owns 34,223 shares of the company’s stock, valued at $557,834.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert J. Jr. Hartman sold 7,358 shares of the business’s stock in a transaction on 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 directly owns 37,281 shares of the company’s stock, valued at $615,509.31. The disclosure for this sale can be found here. Insiders own 5.30% of the company’s stock.
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Stoneridge, Inc. (NYSE:SRI) opened at 22.39 on Friday. The company’s 50-day moving average price is $19.43 and its 200 day moving average price is $17.17. The company has a market capitalization of $630.70 million, a price-to-earnings ratio of 8.29 and a beta of 1.44. Stoneridge, Inc. has a 12 month low of $13.42 and a 12 month high of $22.79.
Stoneridge (NYSE:SRI) last posted its quarterly earnings results on Wednesday, August 2nd. The auto parts company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.10. The business had revenue of $209.10 million during the quarter, compared to the consensus estimate of $202.45 million. Stoneridge had a net margin of 10.12% and a return on equity of 22.52%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.41 earnings per share. Analysts forecast that Stoneridge, Inc. will post $1.46 EPS for the current fiscal year.
SRI has been the subject of a number of research reports. Zacks Investment Research upgraded Stoneridge from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 11th. ValuEngine raised Stoneridge from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. BidaskClub lowered Stoneridge from a “sell” rating to a “strong sell” rating in a research report on Friday, August 4th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Stoneridge in a research report on Sunday, October 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $18.67.
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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