IndexIQ Advisors LLC lessened its stake in Stoneridge, Inc. (NYSE:SRI) by 7.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,152 shares of the auto parts company’s stock after selling 6,212 shares during the quarter. IndexIQ Advisors LLC owned 0.27% of Stoneridge worth $1,877,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Dupont Capital Management Corp bought a new stake in Stoneridge during the fourth quarter valued at $703,000. Deroy & Devereaux Private Investment Counsel Inc. increased its stake in Stoneridge by 691.5% during the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 473,306 shares of the auto parts company’s stock valued at $11,667,000 after purchasing an additional 413,506 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Stoneridge by 40.5% during the fourth quarter. Rhumbline Advisers now owns 40,528 shares of the auto parts company’s stock valued at $999,000 after acquiring an additional 11,682 shares during the period. First Interstate Bank boosted its holdings in shares of Stoneridge by 31.9% during the fourth quarter. First Interstate Bank now owns 4,868 shares of the auto parts company’s stock valued at $120,000 after acquiring an additional 1,178 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Stoneridge during the fourth quarter valued at $1,098,000. Institutional investors and hedge funds own 95.38% of the company’s stock.
Several equities analysts have recently issued reports on SRI shares. Zacks Investment Research downgraded shares of Stoneridge from a “hold” rating to a “sell” rating in a report on Friday, January 11th. Stephens reissued a “buy” rating and set a $31.00 price target on shares of Stoneridge in a report on Sunday, January 6th. Buckingham Research set a $32.00 price objective on shares of Stoneridge and gave the stock a “buy” rating in a report on Friday, December 28th. Finally, Barrington Research reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Stoneridge in a report on Wednesday, January 23rd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $31.20.
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Stoneridge, Inc designs and manufactures engineered electrical and electronic components, modules, and systems for the automotive, commercial, motorcycle, off-highway, and agricultural vehicle markets. It operates through three segments: Control Devices, Electronics, and PST. The Control Devices segment provides sensors, switches, valves, and actuators that monitor, measure, or activate specific functions within a vehicle.
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