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Stoneridge (SRI)

Stoneridge, Inc., headquartered in Novi, Michigan, is an independent designer and manufacturer of highly engineered electrical and electronic components, modules and systems principally for the automotive, commercial vehicle, motorcycle, agricultural and off-highway vehicle markets.

Company profile

Ticker
SRI
Exchange
CEO
Jonathan DeGaynor
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
Jurisdiction in Which Organized or Incorporated • Exploitatiemaatschappij Berghaaf B.V. • Orlaco GmbH • Orlaco Inc. • Orlaco Products B.V. • PST Eletronica Ltda. • PST Teleatendimento Ltda. • Positron Rastreadores Argentina S.A. • SRI CS LLC • SRI Delaware Holdings LLC ...
IRS number
341598949

SRI stock data

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

3 Aug 22
16 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 40.69M 40.69M 40.69M 40.69M 40.69M 40.69M
Cash burn (monthly) 232K 1.24M 2.31M 2.28M (no burn) 2.62M
Cash used (since last report) 364.07K 1.95M 3.62M 3.58M n/a 4.11M
Cash remaining 40.33M 38.74M 37.07M 37.12M n/a 36.58M
Runway (months of cash) 173.8 31.2 16.1 16.3 n/a 14.0

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Jul 22 Laurent Borne Common Shares, without par value Payment of exercise Dispose F No No 17.38 1,403 24.38K 11,940
1 Jul 22 Laurent Borne Common Shares, without par value Option exercise Acquire M No No 0 4,909 0 13,343
1 Jul 22 Laurent Borne Share Units Common Shares, without par value Option exercise Dispose M No No 0 4,909 0 55,796
1 Jul 22 Heigel Kevin Common Shares, without par value Payment of exercise Dispose F No No 17.38 1,560 27.11K 25,618
1 Jul 22 Heigel Kevin Common Shares, without par value Option exercise Acquire M No No 0 6,407 0 27,178
1 Jul 22 Heigel Kevin Common Shares, without par value Payment of exercise Acquire F No No 17.38 1,560 27.11K 25,558
1 Jul 22 Heigel Kevin Common Shares, without par value Option exercise Acquire M No No 0 6,407 0 27,118
1 Jul 22 Heigel Kevin Share Units Common Shares, without par value Option exercise Dispose M No No 0 6,407 0 6,406
49.0% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 122 111 +9.9%
Opened positions 24 15 +60.0%
Closed positions 13 12 +8.3%
Increased positions 43 46 -6.5%
Reduced positions 38 31 +22.6%
13F shares Current Prev Q Change
Total value 570.61M 737.13M -22.6%
Total shares 27.45M 27.05M +1.5%
Total puts 0 0
Total calls 10K 0 NEW
Total put/call ratio
Largest owners Shares Value Change
Cooper Creek Partners Management 2.03M $42.24M +6.0%
Cooke & Bieler 1.96M $40.7M +11.3%
BLK Blackrock 1.93M $40.07M +1.1%
Frontier Capital Management 1.47M $30.5M +19.7%
Vanguard 1.4M $29.12M +0.1%
Pembroke Management 1.36M $28.23M +9.1%
Dimensional Fund Advisors 1.34M $27.78M -0.2%
Frontier Capital Management 1.23M $24.23M 0.0%
Royce & Associates 1.2M $24.89M +7.9%
Ewing Morris & Co. Investment Partners 1.2M $26.94M +31.6%
Largest transactions Shares Bought/sold Change
TROW T. Rowe Price 65.29K -1.31M -95.3%
Ewing Morris & Co. Investment Partners 1.2M +287.52K +31.6%
SAMG Silvercrest Asset Management 319.71K -261.51K -45.0%
Frontier Capital Management 1.47M +241.92K +19.7%
Brandywine Global Investment Management 236K +236K NEW
Guggenheim Capital 205.72K +205.72K NEW
Cooke & Bieler 1.96M +198.37K +11.3%
Wasatch Advisors 0 -187.47K EXIT
Jacobs Levy Equity Management 277.08K +181.6K +190.2%
Assenagon Asset Management 172.8K +172.8K NEW

Financial report summary

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Competition
CTSDanaMethode ElectronicsCalampBorgWarnerVisteonDensoAptivAptivDelphi Technologies
Risks
  • Our business is cyclical and a downturn in the automotive, commercial, off-highway and agricultural vehicle markets as well as overall economic conditions could reduce our sales and profitability.
  • The loss or insolvency of any of our principal customers would adversely affect our future results.
  • We must implement and sustain a competitive technological advantage in producing our products to compete effectively.
  • The discontinuation of, loss of business or lack of commercial success, with respect to a particular vehicle model for which the Company is a significant supplier could reduce the Company’s sales and harm its profitability.
  • We have foreign currency translation and transaction risks that may materially adversely affect our operating results, financial condition and liquidity.
  • Our debt obligations could limit our flexibility in managing our business and expose us to risks.
  • Covenants in our Credit Facility may limit our ability to pursue our business strategies.
  • Our annual effective tax rate could be volatile and materially change as a result of changes in the mix of earnings and other factors including changes in the recognition and/or release of valuation allowances against deferred tax assets.
  • We are dependent on the availability and price of raw materials and other supplies.
  • The prices that we can charge our customers are typically predetermined and we bear the risk of costs in excess of our estimates, in addition to the risk of adverse effects resulting from general customer demands for cost reductions and quality improvements.
  • We have limited or no redundancy for certain of our manufacturing facilities, and therefore damage or disruption to those facilities could interrupt our operations, increase our costs of doing business and impair our ability to deliver our products on a timely basis.
  • We rely on independent dealers and distributors to sell certain products in the aftermarket sales channel and a disruption to this channel would harm our business.
  • Our Global Positioning Systems (“GPS”) products depend upon satellites maintained by the United States Department of Defense. If a significant number of these satellites become inoperable, unavailable or are not replaced, or if the policies of the United States government for the use of the GPS without charge are changed, our business will suffer.
  • We are subject to risks related to our international operations.
  • Our inability to effectively manage the timing, quality and costs of new program launches could adversely affect our financial performance.
  • We may not be able to successfully integrate acquisitions into our business or may otherwise be unable to benefit from pursuing acquisitions.
  • Increased or unexpected product warranty claims could adversely affect us.
  • We may incur material product liability costs.
  • If we fail to protect our intellectual property rights or maintain our rights to use licensed intellectual property or are found liable for infringing the rights of others, our business could be adversely affected.
  • A failure of our information technology (IT) networks and systems, or the inability to successfully implement upgrades to our enterprise resource planning (ERP) systems, could adversely impact our business and operations.
  • We may be subject to risks relating to our information technology systems and cybersecurity.
  • Privacy and security concerns relating to the Company’s current or future products and services could damage its reputation and deter current and potential users from using them.
  • Compliance with environmental and other governmental regulations could be costly and require us to make significant expenditures.
Management Discussion
  • Net Sales. Net sales for our reportable segments, excluding inter-segment sales are summarized in the following table (in thousands):
  • Our Control Devices segment net sales increased $13.2 million due to recovery from 2020 COVID-19 impacts in our North American automotive and agricultural vehicle markets of $23.4 million and $2.7 million, respectively, and an increase in our China automotive and commercial vehicle markets of $3.8 million and $0.4 million, respectively, as well as a favorable foreign currency translation of $3.2 million. These increases were partially offset by a decrease in volumes in our European automotive of $16.7 million due to the exit of PM sensor production and a decrease in volumes in our North American commercial vehicle market of $4.3 million.
  • Our Electronics segment net sales increased $100.1 million due to recovery from 2020 COVID-19 impacts in our North American and European commercial vehicle and European and North American off-highway vehicle markets of $28.7 million, $28.4 million, $14.4 million and $5.3 million, respectively, as well as favorable euro and Swedish krona foreign currency translation of $5.0 million compared to the prior year period. In the fourth quarter, net sales increased by $17.6 million due to customer pricing for recoveries of electronic component spot buy purchases.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
New words: cover, Data, DeGaynor, duly, embedded, Exhibit, feasible, formatted, herewith, Horvath, IHS, incorporated, Inline, instance, Interactive, iXBRL, Jonathan, Label, Language, Linkbase, Markit, Matthew, page, percent, ramp, readily, registrant, Schema, shift, suggest, system, Taxonomy, thereunto, truck, undersigned, unwound, XBRL
Removed: depend, face, nature, serve

Patents

Utility
Mirror Replacement System with Camera Anti-soiling Feature
11 Aug 22
A camera arm (16) for a vehicle mirror replacement system includes a housing (22) having an exterior surface (38).
Utility
Camera Assisted Docking System for Commercial Shipping Assets In a Dynamic Information Discovery Protocol Environment
11 Aug 22
A method for operating a commercial shipping asset includes entering one of a docking and an undocking mode of operations using a vehicle controller of a commercial shipping asset, identifying at least one trusted video source remote from the commercial shipping asset, determining a distance between the commercial shipping asset and at least one object based at least in part on an image analysis of a video feed from the trusted video source, and responding to the determined distance by providing at least one of a warning to an operator of the commercial shipping asset and adjusting an automated or semi-automated operation of the commercial shipping asset.
Utility
System and Process for Pairing Commercial Shipping Assets Within a Dynamic Information Discovery Protocol
11 Aug 22
A method for pairing commercial shipping assets includes identifying the presence of a second asset using a sensor system of a first asset, retrieving a master asset identifier of the second asset using a controller of the first asset, physically connecting the first asset and the second asset, and updating a dynamic information discovery protocol environment.
Utility
Mirror replacement system with dynamic stitching
19 Jul 22
A camera mirror system for a vehicle includes a camera system having at least a first and second field of view of a scene.
Utility
Mirror Replacement System
23 Jun 22
A mirror replacement system includes a camera having a frontal lens on an outer surface of the camera.