NWQ Investment Management Company LLC Has $40.36 Million Holdings in Stoneridge, Inc. (SRI)
NWQ Investment Management Company LLC boosted its position in shares of Stoneridge, Inc. (NYSE:SRI) by 1.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,037,198 shares of the auto parts company’s stock after acquiring an additional 33,240 shares during the period. NWQ Investment Management Company LLC owned about 7.23% of Stoneridge worth $40,357,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of SRI. Royce & Associates LP grew its holdings in Stoneridge by 343.7% during the 2nd quarter. Royce & Associates LP now owns 1,235,737 shares of the auto parts company’s stock worth $19,043,000 after acquiring an additional 957,237 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Stoneridge by 33.4% during the 2nd quarter. Renaissance Technologies LLC now owns 835,600 shares of the auto parts company’s stock worth $12,877,000 after acquiring an additional 209,000 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Stoneridge by 13.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,756,176 shares of the auto parts company’s stock worth $27,063,000 after acquiring an additional 207,761 shares in the last quarter. Kennedy Capital Management Inc. acquired a new position in Stoneridge during the 2nd quarter worth approximately $2,732,000. Finally, Walthausen & Co. LLC grew its holdings in Stoneridge by 24.0% during the 2nd quarter. Walthausen & Co. LLC now owns 678,270 shares of the auto parts company’s stock worth $10,452,000 after acquiring an additional 131,490 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.
In other news, VP Thomas A. Beaver sold 49,779 shares of the company’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $21.51, for a total value of $1,070,746.29. Following the completion of the transaction, the vice president now owns 76,529 shares in the company, valued at approximately $1,646,138.79. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 5.30% of the company’s stock.
Shares of Stoneridge, Inc. (NYSE SRI) traded down $0.34 during trading on Thursday, hitting $21.26. 142,400 shares of the stock traded hands, compared to its average volume of 155,561. Stoneridge, Inc. has a fifty-two week low of $14.16 and a fifty-two week high of $23.47. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.65 and a current ratio of 2.24. The firm has a market cap of $608.50, a PE ratio of 14.40 and a beta of 1.45.
Stoneridge (NYSE:SRI) last issued its earnings results on Wednesday, November 1st. The auto parts company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.04. Stoneridge had a net margin of 9.45% and a return on equity of 20.37%. The business had revenue of $203.60 million during the quarter, compared to analysts’ expectations of $192.80 million. During the same quarter in the prior year, the business posted $0.36 EPS. The company’s revenue for the quarter was up 17.1% on a year-over-year basis. analysts expect that Stoneridge, Inc. will post 1.49 earnings per share for the current year.
Several research analysts have commented on SRI shares. Zacks Investment Research cut shares of Stoneridge from a “buy” rating to a “hold” rating in a report on Thursday, October 5th. KeyCorp reiterated a “hold” rating on shares of Stoneridge in a report on Sunday, October 15th. Finally, B. Riley reiterated a “neutral” rating on shares of Stoneridge in a report on Friday, November 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Stoneridge has a consensus rating of “Hold” and a consensus target price of $23.50.
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Stoneridge Company Profile
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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