SRI Stoneridge

Stoneridge, Inc. engages in the production of engineered electrical and electronic components, modules, and systems for the automotive, commercial, off-highway, motorcycle, and agricultural vehicle markets. It operates through the following segments: Control Devices, Electronics, and Stoneridge Brazil. The Control Devices segment designs and manufactures products that monitor, measure, and activate specific functions within a vehicle such as sensors, switches, valves, and actuators. The Electronics segment offers driver information systems, camera-based vision systems, connectivity and compliance products, and electronic control units. The Stoneridge Brazil segment sells vehicle tracking devices and monitoring services, vehicle security alarms and convenience accessories, in-vehicle audio and infotainment devices, and telematics solutions. The company was founded by D. M. Draime in 1965 and is headquartered in Novi, MI.
Company profile
Ticker
SRI
Exchange
Website
CEO
Jonathan DeGaynor
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Icahn Enterprises • Magna International • Adient • Aptiv • Lear • Autoliv • Visteon • Allison Transmission • Dana • Tenneco ...
SEC CIK
Corporate docs
IRS number
341598949
SRI stock data
()
Press releases
Stoneridge, Inc. To Broadcast Its First-Quarter 2021 Conference Call On The Web
16 Apr 21
Montgomery Transport Reinforces Company Commitment to Safety Innovation with Fleet-Wide Adoption of Stoneridge MirrorEye® Camera Monitor System
9 Mar 21
Maverick Transportation Commits to Full Adoption of Stoneridge MirrorEye® Camera Monitor System
8 Mar 21
Stoneridge Reports Strong Fourth-Quarter and Full-Year 2020 Results
24 Feb 21
Stoneridge Appoints Frank S. Sklarsky to Board of Directors
24 Feb 21
Investment data
Securities sold
Number of investors
Calendar
23 Feb 21
22 Apr 21
31 Dec 21
Financial summary
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Dec 20 | Dec 19 | Dec 18 | Dec 17 | |
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Financial data from Stoneridge earnings reports.
Cash burn rate (estimated) | Burn method: Change in cash | Burn method: Operating income/loss | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 73.92M | 73.92M | 73.92M | 73.92M | 73.92M | 73.92M |
Cash burn (monthly) | (positive/no burn) | (positive/no burn) | (positive/no burn) | 687.67K | (positive/no burn) | (positive/no burn) |
Cash used (since last report) | n/a | n/a | n/a | 2.57M | n/a | n/a |
Cash remaining | n/a | n/a | n/a | 71.35M | n/a | n/a |
Runway (months of cash) | n/a | n/a | n/a | 103.8 | n/a | n/a |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
10 Mar 21 | Laurent Borne | Common Shares, without par value | Payment of exercise | Dispose F | No | No | 36.46 | 3,598 | 131.18K | 11,080 |
10 Mar 21 | Laurent Borne | Common Shares, without par value | Option exercise | Aquire M | No | No | 0 | 12,166 | 0 | 14,678 |
10 Mar 21 | Laurent Borne | Performance Shares/Share Units Common Shares, without par value | Sale back to company | Dispose D | No | No | 0 | 5,123 | 0 | 47,393 |
10 Mar 21 | Laurent Borne | Performance Shares/Share Units Common Shares, without par value | Option exercise | Dispose M | No | No | 0 | 12,166 | 0 | 52,516 |
9 Mar 21 | Paul J. Schlather | Common Shares, without par value | Grant | Aquire A | No | No | 0 | 3,293 | 0 | 79,139 |
9 Mar 21 | Kim Korth | Common Shares, without par value | Grant | Aquire A | No | No | 0 | 3,293 | 0 | 66,702 |
9 Mar 21 | Frank S Sklarsky | Common Shares, without par value | Grant | Aquire A | No | No | 0 | 3,293 | 0 | 3,293 |
9 Mar 21 | Douglas C Jacobs | Common Shares, without par value | Grant | Aquire A | No | No | 0 | 3,293 | 0 | 71,962 |
Institutional ownership Q4 2020
Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.
13F holders |
Current |
---|---|
Total holders | 118 |
Opened positions | 25 |
Closed positions | 12 |
Increased positions | 38 |
Reduced positions | 42 |
13F shares |
Current |
---|---|
Total value | 1.05B |
Total shares | 28.31M |
Total puts | 0 |
Total calls | 0 |
Total put/call ratio | – |
Largest owners |
Shares | Value |
---|---|---|
Frontier Capital Management | 2.16M | $65.15M |
Frontier Capital Management | 2.16M | $65.15M |
BLK Blackrock | 2M | $60.43M |
TROW T. Rowe Price | 1.73M | $52.44M |
JHG Janus Henderson | 1.69M | $51.07M |
Dimensional Fund Advisors | 1.65M | $49.78M |
Vanguard | 1.37M | $41.33M |
Loomis Sayles & Co L P | 1.07M | $32.33M |
Cooke & Bieler | 1.05M | $31.66M |
Thrivent Financial For Lutherans | 1.04M | $31.48M |
Financial report summary
?Competition
CTS • Dana • Methode Electronics • Calamp • BorgWarner • Visteon • Nidec • Denso • Aptiv • AptivRisks
- Our business is cyclical and a downturn in the automotive, commercial, off-highway, motorcycle and agricultural vehicle markets as well as overall economic conditions could reduce the sales and profitability of our business.
- Our business is very competitive and increased competition 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 2019 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 decreased primarily as a result of COVID-19 and 2019 sales of $41.6 million under the contract manufacturing agreement pursuant to the 2019 disposal of the Non-core Products. Including the impact of COVID-19, Control Devices experienced decreased sales volume in our North American automotive, North American commercial vehicle, agricultural and other markets of $61.5 million, $17.4 million, $9.6 million and $14.5 million, respectively. These decreases were offset by increased sales volume in our European and China automotive markets of $7.2 million and $6.6 million, respectively.
- Our Electronics segment net sales decreased primarily as a result of COVID-19 including a decrease in sales volume in our European, North American and China commercial vehicle markets of $47.2 million, $23.4 million and $1.0 million, respectively. In addition, the Electronics segment net sales decreased due to a decrease in sales volume in our European off-highway vehicle products of $17.1 million. These decreases were offset by a favorable foreign currency translation of $11.4 million.
Content analysis
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New words:
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Removed:
accessed, alleviate, BorgWarner, Carbon, comparative, compromise, damaged, Denso, Driveline, forma, Friedrichshafen, GKN, institution, Kostal, lead, marked, mature, movement, MultiLaser, noncurrent, Plasan, PLC, preclude, publicly, receipt, recourse, recruiting, retaliatory, scheduled, Servicing, Sinter, stored, unaudited, unrelated, voluntary, Willig
Financial reports
10-K
2020 FY
Annual report
23 Feb 21
10-Q
2020 Q3
Quarterly report
28 Oct 20
10-Q
2020 Q2
Quarterly report
29 Jul 20
10-Q
2020 Q1
Quarterly report
6 May 20
10-K
2019 FY
Annual report
26 Feb 20
10-Q
2019 Q3
Quarterly report
30 Oct 19
10-Q
2019 Q2
Quarterly report
31 Jul 19
10-Q
2019 Q1
Quarterly report
1 May 19
10-K
2018 FY
Annual report
27 Feb 19
10-Q
2018 Q3
Quarterly report
26 Oct 18
Current reports
8-K
Other Events
8 Mar 21
8-K
Stoneridge Reports Strong Fourth-Quarter and Full-Year 2020 Results
24 Feb 21
8-K
Other Events
3 Nov 20
8-K
Stoneridge Reports Strong Third-Quarter 2020 Results
28 Oct 20
8-K
Stoneridge Reports Second-Quarter 2020 Results
29 Jul 20
8-K/A
Cost Associated with Exit or Disposal Activities
28 Jul 20
8-K
Entry into a Material Definitive Agreement
1 Jul 20
8-K
Cost Associated with Exit or Disposal Activities
26 May 20
8-K
Departure of Directors or Certain Officers
20 May 20
8-K
Stoneridge Reports First-Quarter 2020 Results
6 May 20
Registration and prospectus
S-8
Registration of securities for employees
30 Jul 20
S-8
Registration of securities for employees
1 Aug 18
S-8
Registration of securities for employees
2 Aug 17
S-8 POS
Registration of securities for employees (post-effective amendment)
2 Aug 16
S-8
Registration of securities for employees
2 Aug 16
S-8 POS
Registration of securities for employees (post-effective amendment)
2 Aug 16
S-8
Registration of securities for employees
4 Aug 13
D
$16.5M in equity, sold $16.5M, 2 investors
12 Jan 12
S-8
Registration of securities for employees
31 Jan 11
424B3
Prospectus supplement
2 Nov 10
Proxies
DEFA14A
Additional proxy soliciting materials
1 Apr 21
DEF 14A
Definitive proxy
1 Apr 21
DEFA14A
Additional proxy soliciting materials
2 Apr 20
DEF 14A
Definitive proxy
2 Apr 20
DEFA14A
Additional proxy soliciting materials
4 Apr 19
DEF 14A
Definitive proxy
4 Apr 19
DEFA14A
Additional proxy soliciting materials
4 Apr 18
DEF 14A
Definitive proxy
4 Apr 18
DEF 14A
Definitive proxy
29 Mar 17
DEFA14A
Additional proxy soliciting materials
29 Mar 17
Other
SD
Conflict minerals disclosure
29 May 20
UPLOAD
Letter from SEC
3 Sep 19
CORRESP
Correspondence with SEC
27 Aug 19
UPLOAD
Letter from SEC
19 Aug 19
SD
Conflict minerals disclosure
31 May 19
SD
Conflict minerals disclosure
30 May 18
CT ORDER
Confidential treatment order
7 Sep 17
SD
Conflict minerals disclosure
29 May 17
SD
Conflict minerals disclosure
30 May 16
SD
Conflict minerals disclosure
28 May 15
Ownership
4
STONERIDGE / Laurent Borne ownership change
12 Mar 21
4
STONERIDGE / Ira C. Kaplan ownership change
11 Mar 21
4
STONERIDGE / WILLIAM M LASKY ownership change
11 Mar 21
4
STONERIDGE / George S Mayes JR ownership change
11 Mar 21
4
STONERIDGE / JEFFREY P DRAIME ownership change
11 Mar 21
4
STONERIDGE / DOUGLAS C JACOBS ownership change
11 Mar 21
4
STONERIDGE / Frank S Sklarsky ownership change
11 Mar 21
4
STONERIDGE / Kim Korth ownership change
11 Mar 21
4
STONERIDGE / Paul J. Schlather ownership change
11 Mar 21
4
STONERIDGE / Jonathan B DeGaynor ownership change
9 Mar 21
Patents
GRANT
Design
Camera mounting arm
23 Mar 21
Inventors: Alfred van den Brink, Ben Henken
APP
Utility
Camera Image and Sensor Fusion for Mirror Replacement System
4 Feb 21
A measurement system for a vehicle including a first camera defining a field of view having a corresponding optical axis, and a motion detection sensor mechanically fixed to the first camera such that the motion detection sensor is configured to detect motion of the optical axis.
GRANT
Utility
Secure GNSS positioning in vehicle unit
12 Jan 21
A vehicle unit adapted to receive a GNSS raw data signal, characterised in that it comprises a secure processor or secure microcontroller unit (MCU) adapted to authenticate the GNSS raw data signal and securely calculate a position of the vehicle unit based on the authenticated or to be authenticated GNSS raw data signal.
APP
Utility
Soot Sensor System
30 Dec 20
A soot sensing system includes a soot sensor having a first element, and circuitry to an amount of soot accumulated on the element and to control heating of the element in response to the soot accumulation.
APP
Utility
Camera Mirror System Vehicle Integration
18 Nov 20
A vehicle camera mirror system includes a CAN bus that carries vehicle parameter data having vehicle speed, steering angle, braking and/or engine RPM.
Transcripts
2020 Q4
Earnings call transcript
28 Feb 21
2020 Q3
Earnings call transcript
31 Oct 20
2020 Q2
Earnings call transcript
1 Aug 20
2020 Q1
Earnings call transcript
9 May 20
2019 Q4
Earnings call transcript
29 Feb 20
2019 Q3
Earnings call transcript
3 Nov 19
2019 Q2
Earnings call transcript
5 Aug 19
2019 Q1
Earnings call transcript
4 May 19
2018 Q4
Earnings call transcript
2 Mar 19
2018 Q3
Earnings call transcript
30 Oct 18
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