Smith Asset Management Group LP boosted its stake in shares of Stoneridge Inc. (NYSE:SRI) by 0.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 57,050 shares of the company’s stock after buying an additional 460 shares during the period. Smith Asset Management Group LP owned approximately 0.20% of Stoneridge worth $1,050,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of SRI. BlackRock Group LTD purchased a new stake in Stoneridge during the second quarter valued at $118,000. Acrospire Investment Management LLC boosted its position in Stoneridge by 191.7% in the second quarter. Acrospire Investment Management LLC now owns 9,923 shares of the company’s stock worth $148,000 after buying an additional 6,521 shares during the last quarter. Paloma Partners Management Co bought a new position in Stoneridge during the second quarter worth $150,000. Citadel Advisors LLC bought a new position in Stoneridge during the second quarter worth $175,000. Finally, UBS Asset Management Americas Inc. bought a new position in Stoneridge during the second quarter worth $181,000. 84.84% of the stock is owned by institutional investors and hedge funds.
Stoneridge Inc. (NYSE:SRI) traded up 0.88% during midday trading on Friday, reaching $16.00. 99,876 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $16.43 and its 200 day moving average is $16.65. Stoneridge Inc. has a 52 week low of $10.51 and a 52 week high of $19.20. The firm has a market capitalization of $445.47 million, a P/E ratio of 12.89 and a beta of 1.49.
Stoneridge (NYSE:SRI) last posted its quarterly earnings data on Thursday, October 27th. The company reported $0.36 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.36. The business earned $173.80 million during the quarter, compared to analyst estimates of $183.56 million. Stoneridge had a net margin of 5.19% and a return on equity of 29.86%. During the same quarter in the previous year, the business posted $0.27 earnings per share. The company’s revenue was up 7.2% on a year-over-year basis. On average, analysts expect that Stoneridge Inc. will post $1.38 EPS for the current fiscal year.
A number of equities analysts recently weighed in on the stock. FBR & Co reaffirmed a “hold” rating and set a $13.00 price objective on shares of Stoneridge in a research report on Thursday, August 4th. Zacks Investment Research raised shares of Stoneridge from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research report on Tuesday, November 1st. Finally, B. Riley reaffirmed a “buy” rating and set a $19.00 price objective on shares of Stoneridge in a research report on Thursday, October 27th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $17.60.
In related news, VP Thomas A. Beaver sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $18.25, for a total value of $730,000.00. Following the completion of the sale, the vice president now directly owns 85,667 shares in the company, valued at $1,563,422.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Richard P. Adante sold 6,771 shares of the business’s stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $17.95, for a total transaction of $121,539.45. Following the completion of the sale, the vice president now owns 40,482 shares of the company’s stock, valued at $726,651.90. The disclosure for this sale can be found here. 4.70% of the stock is currently 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.