Stoneridge Inc. (SRI) Position Lowered by Huntington National Bank
Huntington National Bank lowered its stake in Stoneridge Inc. (NYSE:SRI) by 13.4% during the second quarter, Holdings Channel reports. The fund owned 195,312 shares of the company’s stock after selling 30,188 shares during the period. Huntington National Bank’s holdings in Stoneridge were worth $2,918,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently made changes to their positions in SRI. Commonwealth Equity Services Inc raised its position in shares of Stoneridge by 35.0% in the first quarter. Commonwealth Equity Services Inc now owns 25,533 shares of the company’s stock valued at $372,000 after buying an additional 6,613 shares during the last quarter. Royce & Associates LP raised its position in shares of Stoneridge by 6.0% in the first quarter. Royce & Associates LP now owns 318,200 shares of the company’s stock valued at $4,633,000 after buying an additional 18,000 shares during the last quarter. Spark Investment Management LLC bought a new position in shares of Stoneridge during the first quarter valued at $422,000. Bogle Investment Management L P DE bought a new position in shares of Stoneridge during the first quarter valued at $878,000. Finally, Royal Bank of Canada raised its position in shares of Stoneridge by 20.0% in the first quarter. Royal Bank of Canada now owns 10,276 shares of the company’s stock valued at $150,000 after buying an additional 1,710 shares during the last quarter. Institutional investors and hedge funds own 85.24% of the company’s stock.
Shares of Stoneridge Inc. (NYSE:SRI) traded up 0.96% during mid-day trading on Friday, reaching $17.88. 142,744 shares of the company’s stock traded hands. Stoneridge Inc. has a 1-year low of $10.51 and a 1-year high of $19.20. The company has a market capitalization of $497.81 million, a P/E ratio of 15.59 and a beta of 1.95. The firm has a 50-day moving average price of $18.17 and a 200-day moving average price of $16.28.
Stoneridge (NYSE:SRI) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.09. The firm had revenue of $186.90 million for the quarter, compared to analysts’ expectations of $184.91 million. Stoneridge had a return on equity of 30.33% and a net margin of 4.84%. Stoneridge’s revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the business posted $0.25 EPS. On average, equities research analysts forecast that Stoneridge Inc. will post $1.37 earnings per share for the current fiscal year.
Several research analysts recently commented on SRI shares. Zacks Investment Research lowered shares of Stoneridge from a “buy” rating to a “hold” rating in a report on Tuesday, July 12th. B. Riley restated a “buy” rating and issued a $19.00 price target on shares of Stoneridge in a report on Monday, August 1st. Finally, FBR & Co restated a “hold” rating and issued a $13.00 price target on shares of Stoneridge in a report on Thursday, August 4th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $17.60.
In other Stoneridge news, VP Richard P. Adante sold 18,979 shares of Stoneridge stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $17.64, for a total transaction of $334,789.56. Following the transaction, the vice president now owns 61,532 shares of the company’s stock, valued at approximately $1,085,424.48. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Thomas A. Beaver sold 40,000 shares of Stoneridge stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $18.25, for a total value of $730,000.00. Following the transaction, the vice president now directly owns 85,667 shares in the company, valued at approximately $1,563,422.75. The disclosure for this sale can be found here. 4.70% 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.
Want to see what other hedge funds are holding SRI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stoneridge Inc. (NYSE:SRI).
Receive News & Ratings for Stoneridge Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stoneridge Inc. and related companies with MarketBeat.com's FREE daily email newsletter.