Schwab Charles Investment Management Inc. grew its position in Stoneridge, Inc. (NYSE:SRI) by 5.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 118,169 shares of the auto parts company’s stock after purchasing an additional 5,780 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Stoneridge were worth $2,341,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Prudential Financial Inc. increased its holdings in shares of Stoneridge by 5.1% in the third quarter. Prudential Financial Inc. now owns 175,472 shares of the auto parts company’s stock valued at $3,476,000 after purchasing an additional 8,480 shares during the period. Nordea Investment Management AB increased its holdings in shares of Stoneridge by 12.4% in the third quarter. Nordea Investment Management AB now owns 135,822 shares of the auto parts company’s stock valued at $2,691,000 after purchasing an additional 15,008 shares during the period. Adirondack Research & Management Inc. increased its holdings in shares of Stoneridge by 8.2% in the third quarter. Adirondack Research & Management Inc. now owns 197,594 shares of the auto parts company’s stock valued at $3,914,000 after purchasing an additional 15,000 shares during the period. Shell Asset Management Co. acquired a new position in shares of Stoneridge in the third quarter valued at about $843,000. Finally, Russell Investments Group Ltd. increased its holdings in shares of Stoneridge by 146.7% in the third quarter. Russell Investments Group Ltd. now owns 71,050 shares of the auto parts company’s stock valued at $1,408,000 after purchasing an additional 42,250 shares during the period. 86.98% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have recently weighed in on the company. Zacks Investment Research raised Stoneridge from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a report on Saturday, January 13th. ValuEngine raised Stoneridge from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. B. Riley reissued a “neutral” rating on shares of Stoneridge in a report on Friday, November 3rd. Finally, KeyCorp reissued a “hold” rating on shares of Stoneridge in a report on Sunday, October 15th. One analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $24.50.
Shares of Stoneridge, Inc. (NYSE:SRI) opened at $25.45 on Friday. The company has a market capitalization of $732.73, a PE ratio of 9.71 and a beta of 1.45. Stoneridge, Inc. has a 1-year low of $14.16 and a 1-year high of $26.05. The company has a current ratio of 2.24, a quick ratio of 1.65 and a debt-to-equity ratio of 0.58.
Stoneridge (NYSE:SRI) last posted its earnings results on Wednesday, November 1st. The auto parts company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.32 by $0.04. The firm had revenue of $203.60 million for the quarter, compared to analyst estimates of $192.80 million. Stoneridge had a return on equity of 20.37% and a net margin of 9.45%. Stoneridge’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period last year, the company earned $0.36 earnings per share. analysts predict that Stoneridge, Inc. will post 1.5 EPS for the current year.
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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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