BNP Paribas Financial Markets Cuts Stock Position in Stoneridge, Inc. (NYSE:SRI)

BNP Paribas Financial Markets trimmed its position in shares of Stoneridge, Inc. (NYSE:SRI) by 62.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,662 shares of the auto parts company’s stock after selling 10,994 shares during the quarter. BNP Paribas Financial Markets’ holdings in Stoneridge were worth $75,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its stake in shares of 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 purchasing an additional 1,226 shares during the period. Rhumbline Advisers lifted its holdings in Stoneridge by 7.6% during the 2nd quarter. Rhumbline Advisers now owns 47,251 shares of the auto parts company’s stock worth $754,000 after buying an additional 3,353 shares in the last quarter. US Bancorp DE purchased a new position in Stoneridge in the 3rd quarter valued at approximately $46,000. nVerses Capital LLC acquired a new position in shares of Stoneridge in the third quarter worth $59,000. Finally, Hsbc Holdings PLC increased its position in shares of Stoneridge by 51.4% during the second quarter. Hsbc Holdings PLC now owns 23,575 shares of the auto parts company’s stock worth $372,000 after acquiring an additional 8,007 shares during the period. 98.07% of the stock is owned by institutional investors and hedge funds.

Stoneridge Price Performance

Shares of SRI opened at $5.75 on Friday. The firm has a market capitalization of $159.21 million, a price-to-earnings ratio of -21.30 and a beta of 1.34. The firm’s fifty day simple moving average is $7.52 and its 200-day simple moving average is $11.89. Stoneridge, Inc. has a twelve month low of $5.52 and a twelve month high of $19.91. The company has a current ratio of 2.44, a quick ratio of 1.40 and a debt-to-equity ratio of 0.72.

Stoneridge (NYSE:SRI) last posted its earnings results on Wednesday, October 30th. The auto parts company reported ($0.24) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.32). The business had revenue of $213.80 million during the quarter, compared to analysts’ expectations of $229.60 million. Stoneridge had a negative net margin of 0.81% and a negative return on equity of 0.42%. The business’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same period last year, the company earned $0.10 EPS. Equities analysts forecast that Stoneridge, Inc. will post -0.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. StockNews.com cut Stoneridge from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Barrington Research reiterated an “outperform” rating and issued a $16.00 price objective on shares of Stoneridge in a research note on Thursday, October 31st.

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.