Stoneridge, Inc. (SRI) VP Sells $1,070,746.29 in Stock
Stoneridge, Inc. (NYSE:SRI) VP Thomas A. Beaver sold 49,779 shares of Stoneridge stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $21.51, for a total value of $1,070,746.29. Following the sale, the vice president now directly owns 76,529 shares of the company’s stock, valued at approximately $1,646,138.79. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Shares of Stoneridge, Inc. (NYSE:SRI) traded up $0.08 during mid-day trading on Monday, hitting $21.58. The stock had a trading volume of 120,500 shares, compared to its average volume of 150,021. The firm has a market cap of $607.93, a PE ratio of 14.39 and a beta of 1.48. The company has a current ratio of 2.24, a quick ratio of 1.65 and a debt-to-equity ratio of 0.58. Stoneridge, Inc. has a fifty-two week low of $14.16 and a fifty-two week high of $22.99.
Stoneridge (NYSE:SRI) last issued its quarterly earnings data on Wednesday, November 1st. The auto parts company reported $0.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.04. The business had revenue of $203.60 million during the quarter, compared to analysts’ expectations of $192.80 million. Stoneridge had a return on equity of 20.37% and a net margin of 9.45%. The company’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.36 EPS. research analysts expect that Stoneridge, Inc. will post 1.51 EPS for the current year.
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A number of brokerages have commented on SRI. B. Riley reaffirmed a “neutral” rating on shares of Stoneridge in a research report on Friday, November 3rd. Zacks Investment Research raised Stoneridge from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research report on Thursday. KeyCorp reissued a “hold” rating on shares of Stoneridge in a report on Sunday, October 15th. Finally, BidaskClub cut Stoneridge from a “sell” rating to a “strong sell” rating in a report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $23.50.
Several hedge funds have recently modified their holdings of SRI. Royce & Associates LP lifted its holdings in shares of Stoneridge by 343.7% in the 2nd quarter. Royce & Associates LP now owns 1,235,737 shares of the auto parts company’s stock valued at $19,043,000 after buying an additional 957,237 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Stoneridge by 33.4% in the 2nd quarter. Renaissance Technologies LLC now owns 835,600 shares of the auto parts company’s stock valued at $12,877,000 after buying an additional 209,000 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Stoneridge by 13.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,756,176 shares of the auto parts company’s stock valued at $27,063,000 after buying an additional 207,761 shares during the period. Kennedy Capital Management Inc. acquired a new position in Stoneridge in the 2nd quarter worth about $2,732,000. Finally, Walthausen & Co. LLC raised its holdings in Stoneridge by 24.0% in the 2nd quarter. Walthausen & Co. LLC now owns 678,270 shares of the auto parts company’s stock worth $10,452,000 after purchasing an additional 131,490 shares during the period. 86.23% of the stock is owned by institutional investors and hedge funds.
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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