NWQ Investment Management Company LLC increased its position in shares of Stoneridge, Inc. (NYSE:SRI) by 1.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,037,198 shares of the auto parts company’s stock after buying an additional 33,240 shares during the period. NWQ Investment Management Company LLC owned about 7.23% of Stoneridge worth $40,357,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Legal & General Group Plc increased its stake 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. Nine Chapters Capital Management LLC purchased a new position in Stoneridge in the third quarter valued at approximately $216,000. Shufro Rose & Co. LLC purchased a new position in Stoneridge in the third quarter valued at approximately $248,000. SG Americas Securities LLC purchased a new position in Stoneridge in the second quarter valued at approximately $217,000. Finally, Voya Investment Management LLC increased its stake in Stoneridge by 12.7% in the second quarter. Voya Investment Management LLC now owns 16,416 shares of the auto parts company’s stock valued at $253,000 after purchasing an additional 1,851 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.
In related news, VP Thomas A. Beaver sold 49,779 shares of the stock in a transaction on Friday, November 10th. The stock was sold at an average price of $21.51, for a total transaction of $1,070,746.29. Following the completion of the sale, the vice president now directly owns 76,529 shares of the company’s stock, valued at $1,646,138.79. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 5.30% of the stock is owned by company insiders.
Stoneridge (NYSE:SRI) last issued its quarterly earnings results on Wednesday, November 1st. The auto parts company reported $0.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.04. Stoneridge had a return on equity of 20.37% and a net margin of 9.45%. The firm had revenue of $203.60 million during the quarter, compared to the consensus estimate of $192.80 million. During the same period last year, the company earned $0.36 earnings per share. The company’s revenue for the quarter was up 17.1% on a year-over-year basis. equities research analysts expect that Stoneridge, Inc. will post 1.49 EPS for the current fiscal year.
Several equities analysts have commented on the stock. KeyCorp reiterated a “hold” rating on shares of Stoneridge in a research note on Sunday, October 15th. B. Riley reissued a “neutral” rating on shares of Stoneridge in a report on Friday, November 3rd. Finally, Zacks Investment Research raised Stoneridge from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Thursday, November 9th. One research 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. Stoneridge currently has a consensus rating of “Hold” and a consensus price target of $23.50.
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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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