Rhumbline Advisers Grows Position in Stoneridge, Inc. (NYSE:SRI)

Rhumbline Advisers increased its position in Stoneridge, Inc. (NYSE:SRI) by 7.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 47,251 shares of the auto parts company’s stock after purchasing an additional 3,353 shares during the quarter. Rhumbline Advisers owned approximately 0.17% of Stoneridge worth $754,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in SRI. Ranger Investment Management L.P. lifted its stake in shares of Stoneridge by 35.1% in the 4th quarter. Ranger Investment Management L.P. now owns 373,180 shares of the auto parts company’s stock valued at $7,303,000 after purchasing an additional 97,051 shares during the period. Dimensional Fund Advisors LP raised its stake in Stoneridge by 4.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,531,421 shares of the auto parts company’s stock valued at $29,970,000 after buying an additional 61,849 shares during the last quarter. Vanguard Group Inc. raised its stake in Stoneridge by 3.0% during the first quarter. Vanguard Group Inc. now owns 1,523,025 shares of the auto parts company’s stock valued at $28,085,000 after buying an additional 44,600 shares during the last quarter. Frontier Capital Management Co. LLC raised its stake in Stoneridge by 2.0% during the fourth quarter. Frontier Capital Management Co. LLC now owns 2,197,542 shares of the auto parts company’s stock valued at $43,006,000 after buying an additional 43,602 shares during the last quarter. Finally, Comerica Bank raised its stake in Stoneridge by 58,158.3% during the first quarter. Comerica Bank now owns 41,946 shares of the auto parts company’s stock valued at $773,000 after buying an additional 41,874 shares during the last quarter. Hedge funds and other institutional investors own 98.07% of the company’s stock.

Analysts Set New Price Targets

SRI has been the subject of a number of recent research reports. Stephens initiated coverage on Stoneridge in a research note on Monday, July 8th. They set an “overweight” rating for the company. StockNews.com upgraded Stoneridge from a “hold” rating to a “buy” rating in a research note on Wednesday, August 14th.

Stoneridge Trading Down 1.8 %

Shares of NYSE:SRI opened at $11.89 on Tuesday. The company has a market cap of $329.01 million, a P/E ratio of -84.93 and a beta of 1.32. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.27 and a quick ratio of 1.31. Stoneridge, Inc. has a 1 year low of $11.67 and a 1 year high of $20.26. The stock’s fifty day moving average price is $14.37 and its 200-day moving average price is $15.51.

Stoneridge (NYSE:SRI) last announced its quarterly earnings results on Wednesday, July 31st. The auto parts company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.19. The firm had revenue of $237.10 million for the quarter, compared to the consensus estimate of $242.90 million. Stoneridge had a return on equity of 3.03% and a net margin of 0.19%. The company’s quarterly revenue was down 11.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.05) earnings per share. Sell-side analysts expect that Stoneridge, Inc. will post 0.13 earnings per share for the current year.

Stoneridge Profile

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.