Nuveen LLC Takes Position in Stoneridge, Inc. $SRI

Key Points

• Nuveen LLC has acquired a new position in Stoneridge, Inc. amounting to 87,157 shares valued at approximately $400,000, which represents a 0.31% ownership stake.
• Stoneridge received a positive rating upgrade from Wall Street Zen, moving from a "hold" rating to a "buy" rating, while Barrington Research set a price target of $16.00 for the stock.
• The company's recent earnings report showed a loss of ($0.25) per share, falling short of analyst expectations, despite revenue exceeding estimates at $227.95 million.

Nuveen LLC bought a new stake in Stoneridge, Inc. (NYSE:SRI - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 87,157 shares of the auto parts company's stock, valued at approximately $400,000. Nuveen LLC owned approximately 0.31% of Stoneridge at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Stoneridge by 78.2% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 88,937 shares of the auto parts company's stock valued at $408,000 after buying an additional 39,028 shares in the last quarter. XTX Topco Ltd raised its position in shares of Stoneridge by 9.3% in the 1st quarter. XTX Topco Ltd now owns 97,918 shares of the auto parts company's stock valued at $449,000 after buying an additional 8,326 shares in the last quarter. GSA Capital Partners LLP raised its position in shares of Stoneridge by 366.2% in the 1st quarter. GSA Capital Partners LLP now owns 273,563 shares of the auto parts company's stock valued at $1,256,000 after buying an additional 214,888 shares in the last quarter. Federated Hermes Inc. raised its position in shares of Stoneridge by 17,284.9% in the 1st quarter. Federated Hermes Inc. now owns 706,347 shares of the auto parts company's stock valued at $3,242,000 after buying an additional 702,284 shares in the last quarter. Finally, HB Wealth Management LLC acquired a new position in Stoneridge during the 1st quarter worth approximately $128,000. 98.07% of the stock is currently owned by institutional investors and hedge funds.

Stoneridge Trading Down 3.5%

SRI traded down $0.29 during trading on Friday, reaching $8.05. 159,017 shares of the company's stock were exchanged, compared to its average volume of 215,203. Stoneridge, Inc. has a one year low of $3.54 and a one year high of $13.18. The company has a current ratio of 2.14, a quick ratio of 1.35 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $225.45 million, a PE ratio of -7.45 and a beta of 1.50. The firm has a fifty day moving average price of $7.85 and a two-hundred day moving average price of $5.93.

Stoneridge (NYSE:SRI - Get Free Report) last posted its earnings results on Wednesday, August 6th. The auto parts company reported ($0.25) earnings per share for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.16). Stoneridge had a negative return on equity of 9.24% and a negative net margin of 3.39%.The business had revenue of $227.95 million for the quarter, compared to the consensus estimate of $219.90 million. As a group, equities research analysts forecast that Stoneridge, Inc. will post -0.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SRI shares. Wall Street Zen upgraded shares of Stoneridge from a "hold" rating to a "buy" rating in a research 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 Wednesday, August 20th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $16.00.

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.