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

BNP Paribas Financial Markets decreased its position in shares of Stoneridge, Inc. (NYSE:SRI) by 62.3% during the 3rd quarter, HoldingsChannel.com reports. 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 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in SRI. Royce & Associates LP increased its holdings in shares of Stoneridge by 12.3% in the 3rd quarter. Royce & Associates LP now owns 1,357,043 shares of the auto parts company’s stock valued at $15,185,000 after acquiring an additional 148,461 shares during the period. Cowen AND Company LLC acquired a new position in Stoneridge in the second quarter valued at $2,234,000. EVR Research LP raised its holdings in shares of Stoneridge by 36.3% in the second quarter. EVR Research LP now owns 545,000 shares of the auto parts company’s stock valued at $8,698,000 after buying an additional 145,000 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Stoneridge by 7.6% during the second 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 during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Stoneridge by 15.0% during the second quarter. Bank of New York Mellon Corp now owns 101,238 shares of the auto parts company’s stock worth $1,616,000 after buying an additional 13,236 shares during the period. Institutional investors and hedge funds own 98.07% of the company’s stock.

Stoneridge Stock Down 1.2 %

SRI stock opened at $5.75 on Friday. The stock has a market capitalization of $159.21 million, a PE ratio of -21.30 and a beta of 1.34. The company has a fifty day moving average of $7.52 and a 200-day moving average of $11.89. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.40 and a current ratio of 2.44. Stoneridge, Inc. has a one year low of $5.52 and a one year high of $19.91.

Stoneridge (NYSE:SRI) last announced its quarterly earnings data on Wednesday, October 30th. The auto parts company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.32). Stoneridge had a negative net margin of 0.81% and a negative return on equity of 0.42%. The firm had revenue of $213.80 million during the quarter, compared to analyst estimates of $229.60 million. During the same quarter in the previous year, the business earned $0.10 EPS. Stoneridge’s revenue for the quarter was down 10.2% on a year-over-year basis. As a group, analysts expect that Stoneridge, Inc. will post -0.42 EPS for the current year.

Wall Street Analyst Weigh In

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

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.