Insider Selling: Stoneridge, Inc. (SRI) Insider Sells $121,480.58 in Stock
Stoneridge, Inc. (NYSE:SRI) insider Robert J. Jr. Hartman sold 7,358 shares of Stoneridge stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $16.51, for a total value of $121,480.58. Following the completion of the transaction, the insider now directly owns 37,281 shares of the company’s stock, valued at $615,509.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Stoneridge, Inc. (SRI) opened at 16.61 on Monday. Stoneridge, Inc. has a one year low of $13.42 and a one year high of $20.82. The firm’s 50-day moving average price is $16.19 and its 200 day moving average price is $16.80. The company has a market capitalization of $467.89 million, a PE ratio of 6.15 and a beta of 1.33.
Stoneridge (NYSE:SRI) last released its quarterly earnings data on Wednesday, August 2nd. The auto parts company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.10. The business had revenue of $209.10 million for the quarter, compared to analyst estimates of $202.45 million. Stoneridge had a return on equity of 22.52% and a net margin of 10.12%. Stoneridge’s revenue was up 11.9% compared to the same quarter last year. During the same period last year, the firm posted $0.41 earnings per share. Analysts anticipate that Stoneridge, Inc. will post $1.46 earnings per share for the current year.
A number of research firms recently issued reports on SRI. BidaskClub cut Stoneridge from a “sell” rating to a “strong sell” rating in a report on Friday, August 4th. ValuEngine raised Stoneridge from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Finally, Zacks Investment Research raised Stoneridge from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 11th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. Stoneridge presently has an average rating of “Hold” and a consensus price target of $18.67.
A number of institutional investors have recently bought and sold shares of SRI. Legal & General Group Plc raised its position in Stoneridge by 12.2% in the first quarter. Legal & General Group Plc now owns 7,077 shares of the auto parts company’s stock valued at $128,000 after purchasing an additional 772 shares during the last quarter. CAPROCK Group Inc. bought a new position in Stoneridge in the second quarter valued at about $157,000. Eqis Capital Management Inc. bought a new position in Stoneridge in the second quarter valued at about $162,000. Hancock Holding Co. bought a new position in Stoneridge in the first quarter valued at about $201,000. Finally, Citadel Advisors LLC bought a new position in Stoneridge in the first quarter valued at about $208,000. Hedge funds and other institutional investors own 87.83% of the company’s stock.
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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