The Manufacturers Life Insurance Company Increases Stock Position in Stoneridge, Inc. (NYSE:SRI)

The Manufacturers Life Insurance Company increased its holdings in shares of Stoneridge, Inc. (NYSE:SRI) by 12.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,336 shares of the auto parts company’s stock after purchasing an additional 1,226 shares during the period. The Manufacturers Life Insurance Company’s holdings in Stoneridge were worth $181,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SRI. BNP Paribas Financial Markets boosted its position in Stoneridge by 28.0% during the 1st quarter. BNP Paribas Financial Markets now owns 13,068 shares of the auto parts company’s stock valued at $241,000 after acquiring an additional 2,861 shares in the last quarter. Rhumbline Advisers boosted its position in Stoneridge by 7.6% during the second quarter. Rhumbline Advisers now owns 47,251 shares of the auto parts company’s stock valued at $754,000 after purchasing an additional 3,353 shares in the last quarter. Hsbc Holdings PLC grew its stake in Stoneridge by 51.4% in the second quarter. Hsbc Holdings PLC now owns 23,575 shares of the auto parts company’s stock valued at $372,000 after purchasing an additional 8,007 shares during the last quarter. XTX Topco Ltd purchased a new position in Stoneridge in the second quarter valued at about $176,000. Finally, State Board of Administration of Florida Retirement System bought a new position in Stoneridge in the first quarter worth about $238,000. 98.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Stephens began coverage on shares of Stoneridge in a research note on Monday, July 8th. They set an “overweight” rating for the company. StockNews.com raised Stoneridge from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th.

Stoneridge Trading Up 0.9 %

Stoneridge stock opened at $9.84 on Friday. Stoneridge, Inc. has a one year low of $9.48 and a one year high of $19.91. The stock has a market cap of $272.28 million, a PE ratio of -70.29 and a beta of 1.31. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.31 and a current ratio of 2.27. The stock has a 50-day moving average of $12.13 and a two-hundred day moving average of $14.59.

Stoneridge (NYSE:SRI) last released its earnings results on Wednesday, July 31st. The auto parts company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.19. Stoneridge had a net margin of 0.19% and a return on equity of 3.03%. The company had revenue of $237.10 million during the quarter, compared to analysts’ expectations of $242.90 million. During the same period last year, the business earned ($0.05) EPS. Stoneridge’s revenue for the quarter was down 11.1% on a year-over-year basis. On average, research analysts anticipate that Stoneridge, Inc. will post 0.13 EPS for the current fiscal year.

Stoneridge Company 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.