ClariVest Asset Management LLC raised its position in shares of Stoneridge Inc. (NYSE:SRI) by 2.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,973 shares of the company’s stock after buying an additional 900 shares during the period. ClariVest Asset Management LLC’s holdings in Stoneridge were worth $628,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of the stock. Commonwealth Equity Services Inc increased its stake in Stoneridge by 35.0% in the first quarter. Commonwealth Equity Services Inc now owns 25,533 shares of the company’s stock worth $372,000 after buying an additional 6,613 shares in the last quarter. Royce & Associates LP increased its stake in Stoneridge by 6.0% in the first quarter. Royce & Associates LP now owns 318,200 shares of the company’s stock worth $4,633,000 after buying an additional 18,000 shares in the last quarter. Spark Investment Management LLC acquired a new stake in Stoneridge during the first quarter worth about $422,000. Bogle Investment Management L P DE acquired a new stake in Stoneridge during the first quarter worth about $878,000. Finally, Royal Bank of Canada increased its stake in Stoneridge by 20.0% in the first quarter. Royal Bank of Canada now owns 10,276 shares of the company’s stock worth $150,000 after buying an additional 1,710 shares in the last quarter. 85.24% of the stock is owned by hedge funds and other institutional investors.
Shares of Stoneridge Inc. (NYSE:SRI) traded up 0.96% during mid-day trading on Friday, hitting $17.88. 142,744 shares of the stock were exchanged. The stock has a market capitalization of $497.81 million, a price-to-earnings ratio of 15.59 and a beta of 1.95. The stock’s 50-day moving average is $18.17 and its 200-day moving average is $16.28. Stoneridge Inc. has a 52 week low of $10.51 and a 52 week high of $19.20.
Stoneridge (NYSE:SRI) last posted its earnings results on Tuesday, August 2nd. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.09. The firm earned $186.90 million during the quarter, compared to the consensus estimate of $184.91 million. Stoneridge had a net margin of 4.84% and a return on equity of 30.33%. The company’s revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the company earned $0.25 earnings per share. Analysts forecast that Stoneridge Inc. will post $1.37 earnings per share for the current fiscal year.
SRI has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of Stoneridge from a “buy” rating to a “hold” rating in a report on Tuesday, July 12th. B. Riley reissued a “buy” rating and issued a $19.00 price objective on shares of Stoneridge in a report on Monday, August 1st. Finally, FBR & Co reissued a “hold” rating and issued a $13.00 price objective on shares of Stoneridge in a report on Thursday, August 4th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Stoneridge currently has an average rating of “Hold” and a consensus price target of $17.60.
In other news, VP Richard P. Adante sold 6,771 shares of Stoneridge stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $17.95, for a total value of $121,539.45. Following the completion of the transaction, the vice president now owns 40,482 shares in the company, valued at $726,651.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas A. Beaver sold 40,000 shares of Stoneridge stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $18.25, for a total transaction of $730,000.00. Following the completion of the transaction, the vice president now owns 85,667 shares of the company’s stock, valued at approximately $1,563,422.75. The disclosure for this sale can be found here. 4.70% of the stock is currently owned by 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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