Raymond James Financial Inc. Invests $2.18 Million in Stoneridge, Inc. (NYSE:SRI)

Raymond James Financial Inc. acquired a new stake in Stoneridge, Inc. (NYSE:SRI - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 347,714 shares of the auto parts company's stock, valued at approximately $2,180,000. Raymond James Financial Inc. owned 1.26% of Stoneridge as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp increased its stake in shares of Stoneridge by 1.9% in the third quarter. State Street Corp now owns 628,981 shares of the auto parts company's stock worth $7,038,000 after acquiring an additional 11,929 shares during the last quarter. Disciplined Growth Investors Inc. MN grew its stake in Stoneridge by 3.0% in the third quarter. Disciplined Growth Investors Inc. MN now owns 247,196 shares of the auto parts company's stock valued at $2,766,000 after purchasing an additional 7,267 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in Stoneridge by 2.1% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 178,248 shares of the auto parts company's stock worth $1,995,000 after purchasing an additional 3,748 shares during the last quarter. Jane Street Group LLC raised its stake in shares of Stoneridge by 218.3% during the 3rd quarter. Jane Street Group LLC now owns 69,734 shares of the auto parts company's stock worth $780,000 after purchasing an additional 47,829 shares in the last quarter. Finally, Barclays PLC raised its stake in shares of Stoneridge by 51.3% during the 3rd quarter. Barclays PLC now owns 65,044 shares of the auto parts company's stock worth $727,000 after purchasing an additional 22,052 shares in the last quarter. Hedge funds and other institutional investors own 98.07% of the company's stock.

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Stoneridge Stock Down 12.2 %

NYSE SRI traded down $0.59 during trading on Thursday, hitting $4.21. 310,310 shares of the company traded hands, compared to its average volume of 257,496. Stoneridge, Inc. has a 12 month low of $4.11 and a 12 month high of $18.40. The business has a fifty day simple moving average of $4.86 and a 200 day simple moving average of $6.78. The company has a market capitalization of $116.46 million, a P/E ratio of -15.57 and a beta of 1.27. The company has a current ratio of 2.44, a quick ratio of 1.40 and a debt-to-equity ratio of 0.72.

Stoneridge (NYSE:SRI - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The auto parts company reported ($0.18) earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.36). The company had revenue of $218.20 million during the quarter, compared to the consensus estimate of $207.61 million. Stoneridge had a negative net margin of 0.81% and a negative return on equity of 0.42%. As a group, sell-side analysts predict that Stoneridge, Inc. will post -0.42 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SRI. StockNews.com upgraded Stoneridge from a "hold" rating to a "buy" rating in a report on Saturday, March 29th. Barrington Research reissued an "outperform" rating and issued a $16.00 target price on shares of Stoneridge in a research report on Tuesday, March 4th.

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.