Bank of Montreal Can Decreases Holdings in Stoneridge, Inc. (SRI)
Bank of Montreal Can reduced its stake in Stoneridge, Inc. (NYSE:SRI) by 4.8% during the 2nd quarter, Holdings Channel reports. The firm owned 111,328 shares of the auto parts company’s stock after selling 5,585 shares during the period. Bank of Montreal Can’s holdings in Stoneridge were worth $3,911,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently added to or reduced their stakes in the company. Deutsche Bank AG increased its holdings in shares of Stoneridge by 184.8% in the fourth quarter. Deutsche Bank AG now owns 83,414 shares of the auto parts company’s stock valued at $1,904,000 after purchasing an additional 54,126 shares during the last quarter. Prudential Financial Inc. boosted its position in shares of Stoneridge by 14.8% in the first quarter. Prudential Financial Inc. now owns 278,822 shares of the auto parts company’s stock valued at $7,695,000 after acquiring an additional 35,850 shares during the period. Koch Industries Inc. bought a new stake in shares of Stoneridge in the first quarter valued at about $314,000. TIAA CREF Investment Management LLC boosted its position in shares of Stoneridge by 155.2% in the fourth quarter. TIAA CREF Investment Management LLC now owns 294,305 shares of the auto parts company’s stock valued at $6,728,000 after acquiring an additional 178,989 shares during the period. Finally, Millennium Management LLC boosted its position in shares of Stoneridge by 92.4% in the first quarter. Millennium Management LLC now owns 246,708 shares of the auto parts company’s stock valued at $6,809,000 after acquiring an additional 118,463 shares during the period. Hedge funds and other institutional investors own 90.10% of the company’s stock.
A number of equities research analysts have recently issued reports on the stock. Barrington Research reissued a “buy” rating and issued a $50.00 target price on shares of Stoneridge in a research report on Tuesday, July 31st. Buckingham Research assumed coverage on shares of Stoneridge in a research report on Wednesday, June 20th. They issued a “buy” rating and a $37.00 target price for the company. CL King assumed coverage on shares of Stoneridge in a research report on Monday, April 23rd. They issued a “buy” rating and a $34.00 target price for the company. Finally, ValuEngine cut shares of Stoneridge from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 2nd. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $34.40.
Shares of Stoneridge opened at $31.37 on Tuesday, Marketbeat Ratings reports. The stock has a market capitalization of $885.54 million, a PE ratio of 19.82, a price-to-earnings-growth ratio of 1.74 and a beta of 1.02. Stoneridge, Inc. has a 52-week low of $15.84 and a 52-week high of $37.69. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.13 and a quick ratio of 1.65.
Stoneridge (NYSE:SRI) last announced its earnings results on Wednesday, August 1st. The auto parts company reported $0.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.02. The company had revenue of $220.60 million during the quarter, compared to analysts’ expectations of $220.40 million. Stoneridge had a net margin of 6.52% and a return on equity of 21.43%. Stoneridge’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.42 earnings per share. analysts anticipate that Stoneridge, Inc. will post 2.11 earnings per share for the current year.
Stoneridge, Inc designs and manufactures engineered electrical and electronic components, modules, and systems for the automotive, commercial, motorcycle, off-highway, and agricultural vehicle markets. It operates through three segments: Control Devices, Electronics, and PST. The Control Devices segment provides sensors, switches, valves, and actuators that monitor, measure, or activate specific functions within a vehicle.
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