Russell Investments Group Ltd. Sells 75,791 Shares of Stoneridge, Inc. (NYSE:SRI)

Russell Investments Group Ltd. decreased its position in shares of Stoneridge, Inc. (NYSE:SRI) by 22.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 259,886 shares of the auto parts company’s stock after selling 75,791 shares during the period. Russell Investments Group Ltd.’s holdings in Stoneridge were worth $1,629,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rhumbline Advisers grew its holdings in Stoneridge by 4.9% during the 4th quarter. Rhumbline Advisers now owns 48,478 shares of the auto parts company’s stock worth $304,000 after acquiring an additional 2,274 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Stoneridge by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 619,028 shares of the auto parts company’s stock worth $3,882,000 after purchasing an additional 2,543 shares during the period. US Bancorp DE lifted its position in shares of Stoneridge by 65.2% in the 4th quarter. US Bancorp DE now owns 6,791 shares of the auto parts company’s stock worth $43,000 after purchasing an additional 2,679 shares during the period. XTX Topco Ltd boosted its stake in shares of Stoneridge by 25.7% during the third quarter. XTX Topco Ltd now owns 13,873 shares of the auto parts company’s stock valued at $155,000 after purchasing an additional 2,833 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in Stoneridge by 27.9% in the fourth quarter. Wells Fargo & Company MN now owns 16,021 shares of the auto parts company’s stock worth $100,000 after buying an additional 3,490 shares in the last quarter. 98.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Barrington Research reaffirmed an “outperform” rating and issued a $16.00 price target on shares of Stoneridge in a report on Tuesday, March 4th. StockNews.com upgraded Stoneridge from a “hold” rating to a “buy” rating in a research note on Saturday, March 29th.

Stoneridge Price Performance

Shares of NYSE SRI opened at $3.80 on Friday. The company has a quick ratio of 1.40, a current ratio of 2.44 and a debt-to-equity ratio of 0.72. The business’s 50 day moving average price is $4.60 and its 200 day moving average price is $6.08. Stoneridge, Inc. has a 52 week low of $3.54 and a 52 week high of $18.40. The firm has a market cap of $105.67 million, a P/E ratio of -14.06 and a beta of 1.26.

Stoneridge (NYSE:SRI) last issued its earnings results on Wednesday, February 26th. The auto parts company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.36). Stoneridge had a negative return on equity of 0.42% and a negative net margin of 0.81%. The company had revenue of $218.20 million during the quarter, compared to analysts’ expectations of $207.61 million. On average, sell-side analysts expect that Stoneridge, Inc. will post -0.42 earnings per share for the current 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.