Parametric Portfolio Associates LLC reduced its stake in shares of Stoneridge, Inc. (NYSE:SRI) by 14.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 70,747 shares of the auto parts company’s stock after selling 12,234 shares during the period. Parametric Portfolio Associates LLC owned about 0.25% of Stoneridge worth $1,283,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the stock. Opus Capital Group LLC purchased a new stake in Stoneridge during the first quarter worth $6,476,000. Norges Bank purchased a new stake in Stoneridge during the fourth quarter worth $5,109,000. Gamco Investors INC. ET AL increased its stake in Stoneridge by 37.7% in the first quarter. Gamco Investors INC. ET AL now owns 455,094 shares of the auto parts company’s stock worth $8,255,000 after buying an additional 124,594 shares during the last quarter. American Century Companies Inc. increased its stake in Stoneridge by 31.2% in the first quarter. American Century Companies Inc. now owns 514,584 shares of the auto parts company’s stock worth $9,335,000 after buying an additional 122,385 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in Stoneridge during the fourth quarter worth $1,247,000. Hedge funds and other institutional investors own 89.05% of the company’s stock.
Shares of Stoneridge, Inc. (NYSE SRI) opened at 16.02 on Thursday. The company’s 50 day moving average price is $15.22 and its 200-day moving average price is $17.02. Stoneridge, Inc. has a 52 week low of $13.42 and a 52 week high of $20.82. The firm has a market capitalization of $450.85 million, a PE ratio of 5.73 and a beta of 1.33.
SRI has been the subject of a number of recent research reports. ValuEngine downgraded Stoneridge from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. Zacks Investment Research upgraded Stoneridge from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Finally, B. Riley restated a “buy” rating and set a $22.00 target price on shares of Stoneridge in a research report on Monday, May 8th.
In related news, insider Peter Kruk sold 22,000 shares of the firm’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $16.63, for a total transaction of $365,860.00. Following the completion of the transaction, the insider now directly owns 20,047 shares of the company’s stock, valued at approximately $333,381.61. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.30% of the stock is currently owned by corporate insiders.
Stoneridge Company Profile
Stoneridge, Inc is a designer and manufacturer of engineered electrical and electronic components, modules and systems for the automotive, commercial, motorcycle, off-highway and agricultural vehicle markets. The Company operates through three segments: Control Devices, Electronics and PST. The Company’s Control Devices segment designs and manufactures products that monitor, measure or activate specific functions within a vehicle and includes product lines, such as sensors, switches, valves, and actuators.
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