Graham Capital Management L.P. Makes New $283,000 Investment in Stoneridge, Inc. (NYSE:SRI)

Graham Capital Management L.P. bought a new position in Stoneridge, Inc. (NYSE:SRI) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 45,125 shares of the auto parts company’s stock, valued at approximately $283,000. Graham Capital Management L.P. owned about 0.16% of Stoneridge as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Federated Hermes Inc. bought a new position in Stoneridge in the 4th quarter worth about $25,000. US Bancorp DE increased its position in shares of Stoneridge by 65.2% during the 4th quarter. US Bancorp DE now owns 6,791 shares of the auto parts company’s stock valued at $43,000 after purchasing an additional 2,679 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Stoneridge during the 4th quarter valued at about $74,000. Quantbot Technologies LP bought a new position in shares of Stoneridge during the 4th quarter valued at about $98,000. Finally, Wells Fargo & Company MN increased its position in shares of Stoneridge by 27.9% during the 4th quarter. Wells Fargo & Company MN now owns 16,021 shares of the auto parts company’s stock valued at $100,000 after purchasing an additional 3,490 shares during the last quarter. 98.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SRI shares. StockNews.com 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 set a $16.00 price objective on shares of Stoneridge in a research report on Thursday, May 1st.

Stoneridge Trading Up 5.3%

Shares of SRI stock opened at $5.26 on Friday. The stock has a market capitalization of $146.55 million, a PE ratio of -19.49 and a beta of 1.22. Stoneridge, Inc. has a 1-year low of $3.54 and a 1-year high of $18.40. The business has a 50-day moving average of $4.42 and a 200 day moving average of $5.34. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.44 and a quick ratio of 1.40.

Stoneridge (NYSE:SRI) last issued its earnings results on Wednesday, April 30th. The auto parts company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.02). The company had revenue of $217.89 million for the quarter, compared to analysts’ expectations of $212.42 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 anticipate that Stoneridge, Inc. will post -0.42 earnings per share for the current year.

Stoneridge 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.