Bank of New York Mellon Corp Has $9.82 Million Stock Holdings in Stoneridge, Inc. (NYSE:SRI)

Bank of New York Mellon Corp lifted its stake in shares of Stoneridge, Inc. (NYSE:SRI) by 6.4% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 525,363 shares of the auto parts company’s stock after buying an additional 31,481 shares during the quarter. Bank of New York Mellon Corp owned about 1.91% of Stoneridge worth $9,824,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Synovus Financial Corp raised its stake in Stoneridge by 5.7% in the 1st quarter. Synovus Financial Corp now owns 14,312 shares of the auto parts company’s stock worth $294,000 after purchasing an additional 778 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Stoneridge by 6.3% in the 4th quarter. JPMorgan Chase & Co. now owns 15,529 shares of the auto parts company’s stock worth $335,000 after purchasing an additional 914 shares in the last quarter. Credit Suisse AG raised its stake in Stoneridge by 6.0% in the 2nd quarter. Credit Suisse AG now owns 19,886 shares of the auto parts company’s stock worth $341,000 after purchasing an additional 1,125 shares in the last quarter. Rhumbline Advisers raised its stake in Stoneridge by 3.4% in the 2nd quarter. Rhumbline Advisers now owns 40,233 shares of the auto parts company’s stock worth $690,000 after purchasing an additional 1,319 shares in the last quarter. Finally, US Bancorp DE raised its stake in Stoneridge by 138.3% in the 1st quarter. US Bancorp DE now owns 2,342 shares of the auto parts company’s stock worth $48,000 after purchasing an additional 1,359 shares in the last quarter. Institutional investors and hedge funds own 98.07% of the company’s stock.

Stoneridge Trading Up 2.5 %

Shares of Stoneridge stock opened at $21.06 on Friday. The firm has a market capitalization of $579.61 million, a PE ratio of -61.94 and a beta of 1.39. The firm’s 50 day moving average is $20.37 and its 200 day moving average is $19.13. Stoneridge, Inc. has a 1 year low of $14.18 and a 1 year high of $25.87.

Stoneridge (NYSE:SRI) last posted its earnings results on Wednesday, August 2nd. The auto parts company reported ($0.11) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.11). Stoneridge had a negative net margin of 0.97% and a negative return on equity of 1.51%. The firm had revenue of $266.81 million for the quarter, compared to analyst estimates of $242.13 million. During the same period in the previous year, the firm posted ($0.29) EPS. The company’s revenue for the quarter was up 20.8% compared to the same quarter last year. As a group, research analysts anticipate that Stoneridge, Inc. will post 0.09 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Rajaey Kased purchased 2,525 shares of the company’s stock in a transaction dated Wednesday, August 30th. The shares were purchased at an average price of $20.12 per share, for a total transaction of $50,803.00. Following the transaction, the insider now owns 4,333 shares of the company’s stock, valued at $87,179.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director George S. Mayes, Jr. sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $21.30, for a total value of $53,250.00. Following the transaction, the director now owns 67,492 shares in the company, valued at approximately $1,437,579.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rajaey Kased purchased 2,525 shares of the company’s stock in a transaction dated Wednesday, August 30th. The stock was purchased at an average price of $20.12 per share, for a total transaction of $50,803.00. Following the transaction, the insider now directly owns 4,333 shares in the company, valued at approximately $87,179.96. The disclosure for this purchase can be found here. Insiders own 4.40% of the company’s stock.

Analysts Set New Price Targets

SRI has been the subject of several analyst reports. StockNews.com initiated coverage on shares of Stoneridge in a research note on Thursday, August 17th. They issued a “buy” rating for the company. Barrington Research upgraded shares of Stoneridge from a “market perform” rating to an “outperform” rating in a research note on Thursday, August 3rd.

Stoneridge Company Profile

Stoneridge, Inc, together with its subsidiaries, designs and manufactures engineered electrical and electronic components, modules, and systems for the automotive, commercial, off-highway, motorcycle, and agricultural vehicle markets in North America, South America, Europe, and internationally. The company operates in three segments: Control Devices, Electronics, and Stoneridge Brazil.