12th Street Asset Management Company buys $6,476,566 stake in Stoneridge (SRI)

Stoneridge (SRI) : 12th Street Asset Management Company scooped up 207,231 additional shares in Stoneridge during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 374,368 shares of Stoneridge which is valued at $6,476,566.Stoneridge makes up approximately 2.46% of 12th Street Asset Management Company’s portfolio.

Other Hedge Funds, Including , Alliancebernstein boosted its stake in SRI in the latest quarter, The investment management firm added 38,020 additional shares and now holds a total of 56,980 shares of Stoneridge which is valued at $985,754. Secor Capital Advisors Lp added SRI to its portfolio by purchasing 20,401 company shares during the most recent quarter which is valued at $356,405. Stoneridge makes up approx 0.05% of Secor Capital Advisors Lp’s portfolio. Simplex Trading added SRI to its portfolio by purchasing 282 company shares during the most recent quarter which is valued at $4,518.

Stoneridge opened for trading at $17.04 and hit $17.3 on the upside on Tuesday, eventually ending the session at $17.21, with a gain of 1.35% or 0.23 points. The heightened volatility saw the trading volume jump to 1,83,052 shares. Company has a market cap of $479 M.

On the company’s financial health, Stoneridge reported $0.41 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.32. The company had revenue of $186.90 million for the quarter, compared to analysts expectations of $180.37 million. The company’s revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 EPS.

Many Wall Street Analysts have commented on Stoneridge. Stoneridge was Downgraded by Sidoti to ” Neutral” on May 31, 2016.

Stoneridge Inc. is a designer and manufacturer of engineered electrical and electronic components modules and systems for the automotive commercial motorcycle off-highway and agricultural vehicle markets. The Company operates in three segments: Control Devices Electronics and PST. The Company’s Control Devices segment designs and manufactures products that monitor measure or activate specific functions within a vehicle. The Company’s Electronics segment designs and manufactures electronic instrument clusters electronic control units and driver information systems. The Company’s PST segment is engaged in the design manufacture and sale of electronic vehicle security alarms convenience accessories vehicle tracking devices and monitoring services and in-vehicle audio and video devices. The Company’s operations including its joint ventures cover more than 25 locations in 12 countries.

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