Nuveen Asset Management LLC Cuts Stake in Stoneridge, Inc. (NYSE:SRI)

Nuveen Asset Management LLC trimmed its position in shares of Stoneridge, Inc. (NYSE:SRI - Free Report) by 65.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 90,870 shares of the auto parts company's stock after selling 169,355 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.33% of Stoneridge worth $570,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SRI. SG Americas Securities LLC acquired a new stake in shares of Stoneridge in the fourth quarter valued at approximately $74,000. Rhumbline Advisers raised its position in shares of Stoneridge by 4.9% during the 4th quarter. Rhumbline Advisers now owns 48,478 shares of the auto parts company's stock worth $304,000 after purchasing an additional 2,274 shares during the last quarter. US Bancorp DE lifted its stake in Stoneridge by 65.2% in the 4th quarter. US Bancorp DE now owns 6,791 shares of the auto parts company's stock valued at $43,000 after buying an additional 2,679 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Stoneridge in the 4th quarter valued at approximately $2,180,000. Finally, Amundi acquired a new stake in Stoneridge during the 4th quarter valued at $134,000. Institutional investors and hedge funds own 98.07% of the company's stock.

Wall Street Analyst Weigh In

SRI has been the subject of a number of analyst reports. Wall Street Zen raised Stoneridge from a "hold" rating to a "buy" rating in a report on Tuesday, May 13th. Barrington Research reiterated an "outperform" rating and set a $16.00 price objective on shares of Stoneridge in a research report on Thursday, May 1st.

Stoneridge Trading Up 6.9%

Shares of NYSE:SRI traded up $0.37 during trading on Friday, reaching $5.65. The stock had a trading volume of 213,444 shares, compared to its average volume of 286,691. The company has a quick ratio of 1.40, a current ratio of 2.44 and a debt-to-equity ratio of 0.72. The stock has a market cap of $157.19 million, a P/E ratio of -20.91 and a beta of 1.32. The business has a fifty day moving average price of $4.44 and a 200-day moving average price of $5.15. Stoneridge, Inc. has a fifty-two week low of $3.54 and a fifty-two week high of $18.40.

Stoneridge (NYSE:SRI - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The auto parts company reported ($0.19) earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $212.42 million. As a group, analysts anticipate that Stoneridge, Inc. will post -0.42 earnings per share for the current fiscal year.

Stoneridge Company 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.