Ladenburg Thalmann Financial Services Inc. Boosts Position in Stoneridge, Inc. (SRI)

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Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Stoneridge, Inc. (NYSE:SRI) by 42.0% during the 1st quarter, HoldingsChannel reports. The fund owned 21,954 shares of the auto parts company’s stock after acquiring an additional 6,492 shares during the quarter. Ladenburg Thalmann Financial Services Inc.’s holdings in Stoneridge were worth $606,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. ClariVest Asset Management LLC raised its position in shares of Stoneridge by 4.4% during the 1st quarter. ClariVest Asset Management LLC now owns 44,008 shares of the auto parts company’s stock valued at $1,215,000 after acquiring an additional 1,855 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Stoneridge by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 217,360 shares of the auto parts company’s stock valued at $4,968,000 after acquiring an additional 2,387 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Stoneridge by 2.1% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 125,615 shares of the auto parts company’s stock valued at $3,467,000 after acquiring an additional 2,545 shares in the last quarter. Bank of New York Mellon Corp increased its position in Stoneridge by 0.9% in the fourth quarter. Bank of New York Mellon Corp now owns 296,306 shares of the auto parts company’s stock worth $6,775,000 after buying an additional 2,672 shares during the period. Finally, First Trust Advisors LP increased its position in Stoneridge by 13.3% in the fourth quarter. First Trust Advisors LP now owns 23,955 shares of the auto parts company’s stock worth $548,000 after buying an additional 2,815 shares during the period. 86.83% of the stock is currently owned by institutional investors and hedge funds.

In other news, insider Jonathan B. Degaynor sold 30,000 shares of the stock in a transaction on Wednesday, May 16th. The stock was sold at an average price of $29.90, for a total value of $897,000.00. Following the completion of the transaction, the insider now owns 79,122 shares of the company’s stock, valued at $2,365,747.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Robert J. Jr. Hartman sold 6,393 shares of the stock in a transaction on Tuesday, May 8th. The stock was sold at an average price of $27.86, for a total value of $178,108.98. Following the completion of the transaction, the chief accounting officer now directly owns 37,281 shares of the company’s stock, valued at approximately $1,038,648.66. The disclosure for this sale can be found here. Corporate insiders own 4.40% of the company’s stock.

Several brokerages have weighed in on SRI. Buckingham Research began coverage on Stoneridge in a research report on Wednesday, June 20th. They issued a “buy” rating and a $37.00 target price on the stock. Barrington Research set a $35.00 target price on Stoneridge and gave the stock a “buy” rating in a research report on Friday, June 1st. ValuEngine lowered Stoneridge from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 2nd. CL King began coverage on Stoneridge in a research report on Monday, April 23rd. They issued a “buy” rating and a $34.00 target price on the stock. Finally, Stephens raised Stoneridge from an “equal” rating to a “weight” rating in a research report on Tuesday, March 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $31.40.

Shares of Stoneridge opened at $36.00 on Thursday, according to MarketBeat. Stoneridge, Inc. has a 1-year low of $14.72 and a 1-year high of $37.69. The company has a current ratio of 2.19, a quick ratio of 1.65 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 22.93, a P/E/G ratio of 1.98 and a beta of 1.04.

Stoneridge (NYSE:SRI) last issued its earnings results on Wednesday, May 2nd. The auto parts company reported $0.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.02. Stoneridge had a return on equity of 20.81% and a net margin of 5.89%. The firm had revenue of $225.90 million for the quarter, compared to analyst estimates of $213.94 million. During the same period last year, the company earned $0.38 earnings per share. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. sell-side analysts anticipate that Stoneridge, Inc. will post 2.11 EPS for the current fiscal year.

Stoneridge Company Profile

Stoneridge, Inc designs and manufactures engineered electrical and electronic components, modules, and systems for the automotive, commercial, motorcycle, off-highway, and agricultural vehicle markets. It operates through three segments: Control Devices, Electronics, and PST. The Control Devices segment provides sensors, switches, valves, and actuators that monitor, measure, or activate specific functions within a vehicle.

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Institutional Ownership by Quarter for Stoneridge (NYSE:SRI)

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