Charles Schwab Investment Management Inc. Cuts Stock Holdings in Stoneridge, Inc. (NYSE:SRI)

Charles Schwab Investment Management Inc. lowered its position in Stoneridge, Inc. (NYSE:SRI) by 22.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 266,857 shares of the auto parts company’s stock after selling 76,341 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Stoneridge were worth $1,673,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. US Bancorp DE boosted its position in Stoneridge by 65.2% in the fourth quarter. US Bancorp DE now owns 6,791 shares of the auto parts company’s stock worth $43,000 after purchasing an additional 2,679 shares during the last quarter. Quarry LP bought a new stake in shares of Stoneridge during the 3rd quarter worth $44,000. SG Americas Securities LLC purchased a new position in shares of Stoneridge in the 4th quarter worth about $74,000. Paloma Partners Management Co bought a new position in Stoneridge during the third quarter valued at about $139,000. Finally, Virtu Financial LLC purchased a new stake in Stoneridge during the third quarter worth about $146,000. 98.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

SRI has been the topic of a number of research analyst reports. Barrington Research reiterated an “outperform” rating and issued a $16.00 target price on shares of Stoneridge in a research note on Tuesday, March 4th. StockNews.com upgraded Stoneridge from a “hold” rating to a “buy” rating in a research note on Saturday.

Stoneridge Stock Down 9.5 %

SRI stock opened at $4.63 on Friday. The stock has a fifty day moving average of $4.96 and a 200-day moving average of $6.95. Stoneridge, Inc. has a fifty-two week low of $4.11 and a fifty-two week high of $18.57. The company has a market capitalization of $128.09 million, a price-to-earnings ratio of -17.13 and a beta of 1.27. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.40 and a current ratio of 2.44.

Stoneridge (NYSE:SRI) last issued its earnings results 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 business had revenue of $218.20 million for the quarter, compared to the consensus estimate of $207.61 million. Stoneridge had a negative return on equity of 0.42% and a negative net margin of 0.81%. As a group, equities research analysts predict that Stoneridge, Inc. will post -0.42 earnings per share for the current year.

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.