Gamco Investors INC. ET AL reduced its position in Strattec Security Corporation (NASDAQ:STRT – Free Report) by 9.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 514,529 shares of the auto parts company’s stock after selling 55,350 shares during the period. Gamco Investors INC. ET AL owned 0.12% of Strattec Security worth $40,308,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in the business. New York State Teachers Retirement System purchased a new stake in shares of Strattec Security during the 4th quarter valued at $27,000. State of Alaska Department of Revenue acquired a new stake in shares of Strattec Security in the 4th quarter worth $58,000. Bank of America Corp DE grew its stake in Strattec Security by 137.9% during the 4th quarter. Bank of America Corp DE now owns 2,208 shares of the auto parts company’s stock worth $91,000 after buying an additional 1,280 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Strattec Security during the 2nd quarter worth $92,000. Finally, New York State Common Retirement Fund acquired a new position in Strattec Security during the 2nd quarter valued at about $106,000. 68.91% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
STRT has been the subject of several recent analyst reports. Zacks Research raised Strattec Security from a “strong sell” rating to a “hold” rating in a report on Friday, July 10th. Weiss Ratings restated a “buy (b)” rating on shares of Strattec Security in a report on Wednesday, June 24th. Freedom Capital raised shares of Strattec Security from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 11th. Finally, Wall Street Zen cut shares of Strattec Security from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy”.
Insider Buying and Selling
In other news, CFO Matthew Pauli bought 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were purchased at an average price of $62.53 per share, for a total transaction of $125,060.00. Following the completion of the transaction, the chief financial officer directly owned 2,000 shares in the company, valued at approximately $125,060. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jennifer Lynn Slater purchased 801 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was acquired at an average price of $62.46 per share, for a total transaction of $50,030.46. Following the acquisition, the chief executive officer owned 57,924 shares in the company, valued at $3,617,933.04. This trade represents a 1.40% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 4,598 shares of company stock valued at $286,440 over the last quarter. 3.90% of the stock is currently owned by company insiders.
Strattec Security Stock Performance
Shares of STRT opened at $85.78 on Friday. The stock has a 50-day moving average of $78.66 and a two-hundred day moving average of $79.43. The stock has a market cap of $358.56 million, a P/E ratio of 14.16, a P/E/G ratio of 1.77 and a beta of 1.18. Strattec Security Corporation has a one year low of $57.01 and a one year high of $92.50.
Strattec Security (NASDAQ:STRT – Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The auto parts company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.24). Strattec Security had a net margin of 4.31% and a return on equity of 11.00%. The firm had revenue of $137.63 million during the quarter, compared to analyst estimates of $140.35 million. Analysts predict that Strattec Security Corporation will post 6.12 EPS for the current fiscal year.
Strattec Security announced that its board has authorized a share buyback program on Thursday, May 28th that allows the company to repurchase $40.00 million in outstanding shares. This repurchase authorization allows the auto parts company to reacquire up to 12.8% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
Strattec Security Company Profile
Strattec Security Corporation is a Wisconsin‐based designer and manufacturer of mechanical and electronic locking systems for the global automotive market. Established more than five decades ago, the company supplies original equipment manufacturers (OEMs) and the aftermarket with a broad portfolio of lock and key solutions tailored to passenger cars, light trucks and commercial vehicles.
The company’s product range includes mechanical locking systems such as door lock cylinders, ignition lock modules, key blanks and door handles, as well as electromechanical and keyless‐entry systems.
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