Connor Clark & Lunn Investment Management Ltd. Grows Stake in Stoneridge, Inc. (NYSE:SRI)

Connor Clark & Lunn Investment Management Ltd. lifted its stake in Stoneridge, Inc. (NYSE:SRI) by 246.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,909 shares of the auto parts company’s stock after purchasing an additional 35,500 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Stoneridge were worth $313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of SRI. US Bancorp DE grew its holdings in shares of Stoneridge by 65.2% during the fourth 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. Quarry LP bought a new stake in shares of Stoneridge in the 3rd quarter worth $44,000. SG Americas Securities LLC bought a new position in shares of Stoneridge during the fourth quarter valued at $74,000. Amundi purchased a new stake in shares of Stoneridge during the fourth quarter valued at $134,000. Finally, Paloma Partners Management Co bought a new stake in Stoneridge in the 3rd quarter worth about $139,000. Institutional investors own 98.07% of the company’s stock.

Stoneridge Stock Performance

NYSE:SRI opened at $5.04 on Monday. 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 market cap of $139.44 million, a price-to-earnings ratio of -18.65 and a beta of 1.27. Stoneridge, Inc. has a 1 year low of $4.11 and a 1 year high of $18.57. The stock’s 50 day simple moving average is $5.02 and its two-hundred day simple moving average is $7.18.

Stoneridge (NYSE:SRI) last issued its quarterly earnings data on Wednesday, February 26th. The auto parts company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.36). The company had revenue of $218.20 million for the quarter, compared to analysts’ expectations 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, equities analysts anticipate that Stoneridge, Inc. will post -0.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. StockNews.com lowered shares of Stoneridge from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Barrington Research reaffirmed an “outperform” rating and issued a $16.00 target price on shares of Stoneridge in a report on Tuesday, March 4th.

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.