Shell Asset Management Co. acquired a new stake in Stoneridge, Inc. (NYSE:SRI) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 74,812 shares of the auto parts company’s stock, valued at approximately $843,000. Shell Asset Management Co. owned about 0.27% of Stoneridge at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its stake in Stoneridge by 13.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,756,176 shares of the auto parts company’s stock valued at $27,063,000 after acquiring an additional 207,761 shares during the last quarter. Royce & Associates LP increased its stake in Stoneridge by 343.7% in the second quarter. Royce & Associates LP now owns 1,235,737 shares of the auto parts company’s stock valued at $19,043,000 after acquiring an additional 957,237 shares during the last quarter. Vanguard Group Inc. increased its stake in Stoneridge by 3.8% in the first quarter. Vanguard Group Inc. now owns 1,108,924 shares of the auto parts company’s stock valued at $20,116,000 after acquiring an additional 41,013 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Stoneridge by 4.1% in the second quarter. JPMorgan Chase & Co. now owns 1,054,612 shares of the auto parts company’s stock valued at $16,252,000 after acquiring an additional 42,020 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in Stoneridge by 33.4% in the second quarter. Renaissance Technologies LLC now owns 835,600 shares of the auto parts company’s stock valued at $12,877,000 after acquiring an additional 209,000 shares during the last quarter. 87.68% of the stock is currently owned by institutional investors and hedge funds.
Stoneridge (NYSE:SRI) last issued its quarterly earnings results on Wednesday, October 25th. The auto parts company reported $0.36 EPS for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.06. The firm had revenue of $203.60 million for the quarter, compared to analyst estimates of $192.80 million. Stoneridge had a net margin of 10.12% and a return on equity of 22.52%. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.36 EPS.
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A number of research analysts recently issued reports on the stock. KeyCorp reissued a “hold” rating on shares of Stoneridge in a research note on Sunday, October 15th. Zacks Investment Research cut shares of Stoneridge from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. Finally, BidaskClub cut shares of Stoneridge from a “sell” rating to a “strong sell” rating in a research note on Friday, August 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. Stoneridge has an average rating of “Hold” and an average price target of $19.50.
In other news, VP Michael D. Sloan sold 30,000 shares of the stock in a transaction on Monday, August 14th. The shares were sold at an average price of $16.30, for a total value of $489,000.00. Following the transaction, 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 Securities & Exchange Commission, which is available through this link. Also, insider Robert J. Jr. Hartman sold 7,358 shares of the stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $16.51, for a total transaction of $121,480.58. Following the completion of the transaction, the insider now directly owns 37,281 shares in the company, valued at approximately $615,509.31. The disclosure for this sale can be found here. 5.30% of the stock is owned by corporate insiders.
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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