Hancock Whitney Corp Raises Holdings in Stoneridge, Inc. (NYSE:SRI)

Hancock Whitney Corp grew its position in Stoneridge, Inc. (NYSE:SRI) by 177.9% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 55,807 shares of the auto parts company’s stock after purchasing an additional 35,722 shares during the quarter. Hancock Whitney Corp’s holdings in Stoneridge were worth $1,611,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Rhumbline Advisers increased its position 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 buying an additional 11,682 shares during the period. Dupont Capital Management Corp bought a new stake in shares of Stoneridge during the fourth quarter valued at about $703,000. Jennison Associates LLC bought a new stake in shares of Stoneridge during the fourth quarter valued at about $645,000. Massachusetts Financial Services Co. MA increased its position in shares of Stoneridge by 7.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,255,145 shares of the auto parts company’s stock valued at $30,939,000 after buying an additional 86,741 shares during the period. Finally, Commonwealth Equity Services LLC increased its position in shares of Stoneridge by 5.3% during the fourth quarter. Commonwealth Equity Services LLC now owns 39,807 shares of the auto parts company’s stock valued at $981,000 after buying an additional 2,000 shares during the period. Institutional investors and hedge funds own 94.48% of the company’s stock.

Shares of SRI opened at $29.36 on Friday. The company has a current ratio of 2.06, a quick ratio of 1.48 and a debt-to-equity ratio of 0.37. The stock has a market cap of $828.99 million, a PE ratio of 14.75 and a beta of 1.26. Stoneridge, Inc. has a twelve month low of $21.91 and a twelve month high of $37.69.

Stoneridge (NYSE:SRI) last posted its quarterly earnings data on Wednesday, May 1st. The auto parts company reported $0.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.09. The company had revenue of $218.00 million for the quarter, compared to analysts’ expectations of $216.20 million. Stoneridge had a net margin of 5.84% and a return on equity of 20.46%. Stoneridge’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.50 earnings per share. As a group, sell-side analysts predict that Stoneridge, Inc. will post 1.59 earnings per share for the current fiscal year.

SRI has been the topic of several analyst reports. Barrington Research reiterated a “buy” rating and set a $40.00 price target on shares of Stoneridge in a research report on Tuesday, April 2nd. Citigroup reiterated an “average” rating on shares of Stoneridge in a research report on Tuesday, May 7th. Zacks Investment Research cut Stoneridge from a “hold” rating to a “sell” rating in a research report on Wednesday, February 27th. ValuEngine upgraded Stoneridge from a “hold” rating to a “buy” rating in a research report on Friday, April 19th. Finally, Stephens set a $34.00 price target on Stoneridge and gave the company a “buy” rating in a research report on Friday, March 1st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Stoneridge has a consensus rating of “Buy” and an average target price of $35.33.

In related news, insider Robert J. Jr. Hartman sold 5,601 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $28.75, for a total value of $161,028.75. Following the transaction, the insider now directly owns 37,281 shares in the company, valued at $1,071,828.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Thomas A. Beaver sold 21,093 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $26.49, for a total transaction of $558,753.57. Following the completion of the transaction, the vice president now owns 53,001 shares in the company, valued at $1,403,996.49. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,716 shares of company stock worth $1,337,315. 4.20% of the stock is owned by company insiders.

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Stoneridge Company Profile

Stoneridge, Inc designs and manufactures engineered electrical and electronic components, modules, and systems for the automotive, commercial, off-highway, motorcycle, and agricultural vehicle markets. The company operates in three segments: Control Devices, Electronics, and PST. The Control Devices segment offers sensors, switches, valves, and actuators that monitor, measure, or activate specific functions within a vehicle.

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Institutional Ownership by Quarter for Stoneridge (NYSE:SRI)

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