Fmr LLC Has $646,000 Stake in Stoneridge, Inc. (NYSE:SRI)

FMR LLC lowered its position in Stoneridge, Inc. (NYSE:SRI) by 22.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,601 shares of the auto parts company’s stock after selling 10,239 shares during the period. FMR LLC owned about 0.13% of Stoneridge worth $646,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the company. Alliancebernstein L.P. increased its position in shares of Stoneridge by 0.8% in the first quarter. Alliancebernstein L.P. now owns 109,790 shares of the auto parts company’s stock worth $1,992,000 after buying an additional 900 shares during the last quarter. American International Group Inc. boosted its position in Stoneridge by 7.0% in the first quarter. American International Group Inc. now owns 16,522 shares of the auto parts company’s stock worth $300,000 after buying an additional 1,087 shares during the period. Sawtooth Solutions LLC boosted its position in Stoneridge by 4.9% in the first quarter. Sawtooth Solutions LLC now owns 23,899 shares of the auto parts company’s stock worth $434,000 after buying an additional 1,111 shares during the period. Alambic Investment Management L.P. boosted its position in Stoneridge by 9.3% in the first quarter. Alambic Investment Management L.P. now owns 14,100 shares of the auto parts company’s stock worth $256,000 after buying an additional 1,200 shares during the period. Finally, Acrospire Investment Management LLC boosted its position in Stoneridge by 21.8% in the first quarter. Acrospire Investment Management LLC now owns 10,479 shares of the auto parts company’s stock worth $190,000 after buying an additional 1,876 shares during the period. Institutional investors and hedge funds own 89.37% of the company’s stock.

Stoneridge, Inc. (NYSE:SRI) opened at 16.19 on Friday. The company has a market capitalization of $456.06 million, a PE ratio of 5.99 and a beta of 1.33. The firm’s 50-day moving average is $15.84 and its 200-day moving average is $16.85. Stoneridge, Inc. has a 52-week low of $13.42 and a 52-week high of $20.82.

Stoneridge (NYSE:SRI) last announced its earnings results on Wednesday, August 2nd. The auto parts company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.10. Stoneridge had a return on equity of 22.52% and a net margin of 10.12%. The firm had revenue of $209.10 million during the quarter, compared to analyst estimates of $202.45 million. During the same period last year, the firm posted $0.41 EPS. The business’s revenue was up 11.9% compared to the same quarter last year. On average, equities research analysts forecast that Stoneridge, Inc. will post $1.46 EPS for the current year.

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A number of equities analysts have commented on SRI shares. Zacks Investment Research cut shares of Stoneridge from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 4th. B. Riley reaffirmed a “buy” rating and set a $22.00 price objective on shares of Stoneridge in a research report on Monday, May 8th. ValuEngine cut shares of Stoneridge from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. Finally, BidaskClub cut shares of Stoneridge from a “sell” rating to a “strong sell” rating in a research report on Friday, August 4th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $18.67.

In related news, VP Michael D. Sloan sold 30,000 shares of Stoneridge stock in a transaction dated Monday, August 14th. The stock was 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 owns 34,223 shares of the company’s stock, valued at approximately $557,834.90. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 5.30% of the company’s stock.

About Stoneridge

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.

Institutional Ownership by Quarter for Stoneridge (NYSE:SRI)

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