15,790 Shares in Stoneridge, Inc. (NYSE:SRI) Bought by AQR Capital Management LLC

AQR Capital Management LLC acquired a new stake in Stoneridge, Inc. (NYSE:SRI) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 15,790 shares of the auto parts company’s stock, valued at approximately $252,000.

A number of other institutional investors and hedge funds have also made changes to their positions in SRI. AYAL Capital Advisors Ltd grew its holdings in shares of Stoneridge by 3.4% during the second quarter. AYAL Capital Advisors Ltd now owns 390,393 shares of the auto parts company’s stock worth $6,231,000 after buying an additional 12,900 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in Stoneridge during the 2nd quarter worth approximately $330,000. XTX Topco Ltd purchased a new position in shares of Stoneridge in the 2nd quarter valued at approximately $176,000. Hsbc Holdings PLC increased its holdings in shares of 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 period. Finally, American Century Companies Inc. increased its holdings in shares of Stoneridge by 17.3% in the second quarter. American Century Companies Inc. now owns 160,184 shares of the auto parts company’s stock valued at $2,557,000 after purchasing an additional 23,569 shares during the period. 98.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Stoneridge Price Performance

Shares of NYSE:SRI opened at $9.75 on Friday. Stoneridge, Inc. has a 52 week low of $9.48 and a 52 week high of $19.91. The company has a 50-day moving average price of $12.21 and a 200 day moving average price of $14.67. The company has a market cap of $269.88 million, a P/E ratio of 139.29 and a beta of 1.31. The company has a quick ratio of 1.31, a current ratio of 2.27 and a debt-to-equity ratio of 0.69.

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

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.