Peregrine Capital Management LLC reduced its stake in shares of Stoneridge, Inc. (NYSE:SRI – Get Rating) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 340,083 shares of the auto parts company’s stock after selling 3,681 shares during the quarter. Peregrine Capital Management LLC’s holdings in Stoneridge were worth $7,332,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of SRI. Raymond James & Associates bought a new position in shares of Stoneridge during the first quarter valued at about $284,000. Bank of New York Mellon Corp grew its stake in shares of Stoneridge by 68.3% in the first quarter. Bank of New York Mellon Corp now owns 170,440 shares of the auto parts company’s stock worth $3,537,000 after purchasing an additional 69,146 shares during the last quarter. US Bancorp DE grew its stake in shares of Stoneridge by 138.3% in the first quarter. US Bancorp DE now owns 2,342 shares of the auto parts company’s stock worth $48,000 after purchasing an additional 1,359 shares during the last quarter. MetLife Investment Management LLC grew its stake in shares of Stoneridge by 58.4% in the first quarter. MetLife Investment Management LLC now owns 14,655 shares of the auto parts company’s stock worth $304,000 after purchasing an additional 5,403 shares during the last quarter. Finally, BlackRock Inc. grew its stake in shares of Stoneridge by 1.1% in the first quarter. BlackRock Inc. now owns 1,929,975 shares of the auto parts company’s stock worth $40,066,000 after purchasing an additional 21,375 shares during the last quarter. 97.54% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on SRI. Stephens reissued an “overweight” rating and issued a $27.00 target price on shares of Stoneridge in a research note on Thursday, March 2nd. StockNews.com raised Stoneridge from a “hold” rating to a “buy” rating in a research note on Monday, March 13th.
Stoneridge Stock Down 2.7 %
Stoneridge (NYSE:SRI – Get Rating) last issued its quarterly earnings data on Wednesday, March 1st. The auto parts company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.06). Stoneridge had a negative return on equity of 4.03% and a negative net margin of 1.56%. The company had revenue of $231.20 million during the quarter, compared to analysts’ expectations of $227.80 million. During the same quarter last year, the business earned ($0.24) earnings per share. The business’s quarterly revenue was up 13.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Stoneridge, Inc. will post -0.1 EPS for the current fiscal year.
Stoneridge Company Profile
Stoneridge, Inc engages in the production of engineered electrical and electronic components, modules, and systems for the automotive, commercial, off-highway, motorcycle, and agricultural vehicle markets. It operates through the following segments: Control Devices, Electronics, and Stoneridge Brazil.
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