Federated Hermes Inc. Grows Stock Holdings in Stoneridge, Inc. (NYSE:SRI)

Federated Hermes Inc. grew its position in shares of Stoneridge, Inc. (NYSE:SRI - Free Report) by 17,284.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 706,347 shares of the auto parts company's stock after purchasing an additional 702,284 shares during the quarter. Federated Hermes Inc. owned approximately 2.54% of Stoneridge worth $3,242,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC increased its holdings in Stoneridge by 2,684.5% in the first quarter. GAMMA Investing LLC now owns 6,293 shares of the auto parts company's stock valued at $29,000 after buying an additional 6,067 shares in the last quarter. CWM LLC grew its position in shares of Stoneridge by 580.6% during the 1st quarter. CWM LLC now owns 12,849 shares of the auto parts company's stock valued at $59,000 after acquiring an additional 10,961 shares during the period. Quantinno Capital Management LP purchased a new position in shares of Stoneridge in the 4th quarter valued at about $63,000. Wells Fargo & Company MN increased its stake in shares of Stoneridge by 27.9% in the 4th quarter. Wells Fargo & Company MN now owns 16,021 shares of the auto parts company's stock valued at $100,000 after purchasing an additional 3,490 shares in the last quarter. Finally, Quarry LP raised its holdings in Stoneridge by 321.3% in the 4th quarter. Quarry LP now owns 16,680 shares of the auto parts company's stock worth $105,000 after purchasing an additional 12,721 shares during the period. 98.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SRI has been the topic of several research analyst reports. Wall Street Zen raised Stoneridge from a "hold" rating to a "buy" rating in a report on Tuesday, May 13th. Barrington Research reissued an "outperform" rating and issued a $16.00 price target on shares of Stoneridge in a research note on Monday.

Stoneridge Price Performance

SRI stock traded down $0.53 during trading on Friday, hitting $7.81. The stock had a trading volume of 143,653 shares, compared to its average volume of 359,217. Stoneridge, Inc. has a twelve month low of $3.54 and a twelve month high of $14.85. The company's 50-day moving average price is $6.92 and its two-hundred day moving average price is $5.43. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.39 and a quick ratio of 1.52. The stock has a market capitalization of $217.48 million, a P/E ratio of -7.23 and a beta of 1.44.

Stoneridge (NYSE:SRI - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The auto parts company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.16). Stoneridge had a negative return on equity of 9.27% and a negative net margin of 3.39%. The firm had revenue of $227.95 million during the quarter, compared to analyst estimates of $219.90 million. As a group, research analysts predict that Stoneridge, Inc. will post -0.42 EPS for the current fiscal 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.