American Century Companies Inc. Grows Stake in Stoneridge, Inc. $SRI

American Century Companies Inc. grew its stake in Stoneridge, Inc. (NYSE:SRI - Free Report) by 10.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 353,316 shares of the auto parts company's stock after buying an additional 32,829 shares during the period. American Century Companies Inc. owned 1.27% of Stoneridge worth $1,622,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Boston Partners raised its holdings in shares of Stoneridge by 25.4% in the first quarter. Boston Partners now owns 89,267 shares of the auto parts company's stock worth $410,000 after buying an additional 18,065 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Stoneridge by 49.5% in the first quarter. Russell Investments Group Ltd. now owns 388,479 shares of the auto parts company's stock worth $1,783,000 after buying an additional 128,593 shares during the last quarter. Nuveen LLC purchased a new position in shares of Stoneridge in the first quarter worth $400,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Stoneridge by 78.2% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 88,937 shares of the auto parts company's stock worth $408,000 after buying an additional 39,028 shares during the last quarter. Finally, XTX Topco Ltd raised its holdings in shares of Stoneridge by 9.3% in the first quarter. XTX Topco Ltd now owns 97,918 shares of the auto parts company's stock worth $449,000 after buying an additional 8,326 shares during the last quarter. Hedge funds and other institutional investors own 98.07% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on SRI. Barrington Research reissued an "outperform" rating and set a $16.00 target price on shares of Stoneridge in a report on Wednesday, August 20th. Wall Street Zen raised shares of Stoneridge from a "hold" rating to a "buy" rating in a report on Tuesday, May 13th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $16.00.

Stoneridge Stock Performance

SRI stock traded down $0.29 during midday trading on Friday, hitting $8.05. 159,017 shares of the stock traded hands, compared to its average volume of 344,443. The firm has a market cap of $225.45 million, a P/E ratio of -7.45 and a beta of 1.50. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.14 and a quick ratio of 1.35. The stock's fifty day simple moving average is $7.83 and its 200-day simple moving average is $5.88. Stoneridge, Inc. has a 1-year low of $3.54 and a 1-year high of $13.18.

Stoneridge (NYSE:SRI - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The auto parts company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.16). The firm had revenue of $227.95 million for the quarter, compared to analyst estimates of $219.90 million. Stoneridge had a negative net margin of 3.39% and a negative return on equity of 9.24%. On average, analysts expect that Stoneridge, Inc. will post -0.42 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.