Systematic Financial Management LP Decreases Holdings in Stoneridge, Inc. (NYSE:SRI)

Systematic Financial Management LP cut its holdings in shares of Stoneridge, Inc. (NYSE:SRI) by 9.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 202,885 shares of the auto parts company’s stock after selling 21,030 shares during the quarter. Systematic Financial Management LP’s holdings in Stoneridge were worth $3,238,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Frontier Capital Management Co. LLC raised its stake in shares of Stoneridge by 2.0% during the fourth quarter. Frontier Capital Management Co. LLC now owns 2,197,542 shares of the auto parts company’s stock worth $43,006,000 after acquiring an additional 43,602 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Stoneridge by 4.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,531,421 shares of the auto parts company’s stock worth $29,970,000 after purchasing an additional 61,849 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Stoneridge by 3.0% in the first quarter. Vanguard Group Inc. now owns 1,523,025 shares of the auto parts company’s stock worth $28,085,000 after purchasing an additional 44,600 shares during the last quarter. EVR Research LP grew 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 worth $8,698,000 after purchasing an additional 145,000 shares during the last quarter. Finally, AYAL Capital Advisors Ltd grew its holdings in shares of Stoneridge by 3.4% in the second quarter. AYAL Capital Advisors Ltd now owns 390,393 shares of the auto parts company’s stock worth $6,231,000 after purchasing an additional 12,900 shares during the last quarter. 98.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on SRI. Stephens began coverage on shares of Stoneridge in a report on Monday, July 8th. They issued an “overweight” rating on the stock. StockNews.com upgraded shares of Stoneridge from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th.

Stoneridge Stock Performance

NYSE:SRI opened at $11.37 on Monday. Stoneridge, Inc. has a twelve month low of $10.99 and a twelve month high of $20.26. The stock has a market cap of $314.62 million, a P/E ratio of -81.21 and a beta of 1.32. The company has a quick ratio of 1.31, a current ratio of 2.27 and a debt-to-equity ratio of 0.69. The firm’s fifty day simple moving average is $13.94 and its 200 day simple moving average is $15.37.

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

Stoneridge 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.