Millennium Management LLC Buys 755,223 Shares of Stoneridge, Inc. (NYSE:SRI)

Millennium Management LLC boosted its position in Stoneridge, Inc. (NYSE:SRI - Free Report) by 440.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 926,540 shares of the auto parts company's stock after purchasing an additional 755,223 shares during the period. Millennium Management LLC owned 3.35% of Stoneridge worth $5,809,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rhumbline Advisers grew its position in shares of Stoneridge by 4.9% in the 4th quarter. Rhumbline Advisers now owns 48,478 shares of the auto parts company's stock valued at $304,000 after buying an additional 2,274 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Stoneridge by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 619,028 shares of the auto parts company's stock valued at $3,882,000 after buying an additional 2,543 shares during the last quarter. US Bancorp DE grew its position in shares of 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 during the last quarter. Wells Fargo & Company MN grew its position 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 buying an additional 3,490 shares during the last quarter. Finally, Federated Hermes Inc. bought a new stake in shares of Stoneridge in the 4th quarter valued at about $25,000. Institutional investors and hedge funds own 98.07% of the company's stock.

Stoneridge Trading Up 3.5%

Shares of Stoneridge stock traded up $0.17 on Friday, hitting $5.03. 167,530 shares of the company's stock traded hands, compared to its average volume of 284,679. Stoneridge, Inc. has a one year low of $3.54 and a one year 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 has a fifty day moving average of $4.39 and a two-hundred day moving average of $5.17. The company has a market capitalization of $140.07 million, a price-to-earnings ratio of -18.63 and a beta of 1.22.

Stoneridge (NYSE:SRI - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The auto parts company reported ($0.19) earnings per share for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.02). Stoneridge had a negative return on equity of 0.42% and a negative net margin of 0.81%. The firm had revenue of $217.89 million for the quarter, compared to analyst estimates of $212.42 million. As a group, sell-side analysts expect that Stoneridge, Inc. will post -0.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Wall Street Zen upgraded Stoneridge from a "hold" rating to a "buy" rating in a research report on Tuesday, May 13th. Barrington Research reiterated an "outperform" rating and issued a $16.00 price target on shares of Stoneridge in a research report on Thursday, May 1st.

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.