22Nw LP Takes Position in Stoneridge, Inc. (NYSE:SRI)

22NW LP purchased a new position in Stoneridge, Inc. (NYSE:SRI - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 342,787 shares of the auto parts company's stock, valued at approximately $2,149,000. Stoneridge comprises 1.5% of 22NW LP's holdings, making the stock its 12th biggest holding. 22NW LP owned 1.24% of Stoneridge as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Rhumbline Advisers raised its holdings in shares of Stoneridge by 4.9% during the fourth 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 raised its position in Stoneridge by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 619,028 shares of the auto parts company's stock valued at $3,882,000 after acquiring an additional 2,543 shares in the last quarter. US Bancorp DE grew its position in Stoneridge by 65.2% in the fourth quarter. US Bancorp DE now owns 6,791 shares of the auto parts company's stock worth $43,000 after acquiring an additional 2,679 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Stoneridge by 27.9% during the 4th quarter. Wells Fargo & Company MN now owns 16,021 shares of the auto parts company's stock worth $100,000 after purchasing an additional 3,490 shares during the last quarter. Finally, Federated Hermes Inc. acquired a new position in shares of Stoneridge during the 4th quarter valued at about $25,000. 98.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on SRI shares. StockNews.com lowered Stoneridge from a "buy" rating to a "hold" rating in a report on Monday. Barrington Research reiterated an "outperform" rating and set a $16.00 price target on shares of Stoneridge in a research report on Thursday, May 1st.

Stoneridge Trading Down 0.6 %

Shares of NYSE SRI traded down $0.03 during midday trading on Wednesday, hitting $4.37. The stock had a trading volume of 65,312 shares, compared to its average volume of 269,286. The firm has a market cap of $121.54 million, a P/E ratio of -16.30 and a beta of 1.22. Stoneridge, Inc. has a fifty-two week low of $3.54 and a fifty-two week high of $18.40. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.44 and a quick ratio of 1.40. The company's 50-day simple moving average is $4.52 and its 200 day simple moving average is $5.59.

Stoneridge (NYSE:SRI - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The auto parts company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.02). Stoneridge had a negative net margin of 0.81% and a negative return on equity of 0.42%. The business had revenue of $217.89 million during the quarter, compared to the consensus estimate of $212.42 million. Research analysts anticipate that Stoneridge, Inc. will post -0.42 EPS 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.