US Bancorp DE Purchases New Stake in Stoneridge, Inc. (NYSE:SRI)

US Bancorp DE acquired a new position in shares of Stoneridge, Inc. (NYSE:SRI) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,112 shares of the auto parts company’s stock, valued at approximately $46,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. nVerses Capital LLC acquired a new stake in shares of Stoneridge during the 3rd quarter worth approximately $59,000. The Manufacturers Life Insurance Company boosted its stake in Stoneridge by 12.1% in the second quarter. The Manufacturers Life Insurance Company now owns 11,336 shares of the auto parts company’s stock valued at $181,000 after acquiring an additional 1,226 shares during the last quarter. Deerfield Management Company L.P. Series C acquired a new stake in Stoneridge during the 2nd quarter worth $472,000. EVR Research LP raised its position in shares of Stoneridge by 36.3% during the 2nd quarter. EVR Research LP now owns 545,000 shares of the auto parts company’s stock valued at $8,698,000 after acquiring an additional 145,000 shares during the last quarter. Finally, AQR Capital Management LLC acquired a new position in shares of Stoneridge in the 2nd quarter valued at $252,000. 98.07% of the stock is owned by institutional investors.

Stoneridge Price Performance

Shares of NYSE SRI opened at $6.60 on Monday. Stoneridge, Inc. has a 52-week low of $6.49 and a 52-week high of $19.91. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.40 and a current ratio of 2.44. The stock has a market cap of $182.75 million, a P/E ratio of -24.44 and a beta of 1.36. The firm has a 50 day moving average price of $9.81 and a 200 day moving average price of $13.46.

Stoneridge (NYSE:SRI) last announced its quarterly earnings results on Wednesday, October 30th. The auto parts company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.32). The firm had revenue of $213.80 million during the quarter, compared to analyst estimates of $229.60 million. Stoneridge had a negative net margin of 0.81% and a negative return on equity of 0.42%. Stoneridge’s quarterly revenue was down 10.2% on a year-over-year basis. During the same period last year, the firm earned $0.10 EPS. Analysts expect that Stoneridge, Inc. will post -0.38 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SRI. Barrington Research restated an “outperform” rating and issued a $16.00 price target on shares of Stoneridge in a research report on Thursday, October 31st. StockNews.com upgraded Stoneridge from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th.

About Stoneridge

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