Strattec Security Co. (NASDAQ:STRT) Sees Large Decline in Short Interest

Strattec Security Co. (NASDAQ:STRT) saw a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 6,900 shares, a drop of 65.0% from the August 15th total of 19,700 shares. Based on an average trading volume of 22,700 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.2% of the company’s shares are short sold.

Insider Transactions at Strattec Security

In other news, VP Richard P. Messina sold 1,270 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $38.78, for a total value of $49,250.60. Following the transaction, the vice president now owns 11,930 shares in the company, valued at approximately $462,645.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.93% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Strattec Security

A number of large investors have recently modified their holdings of STRT. Victory Capital Management Inc. bought a new position in Strattec Security in the 4th quarter valued at about $96,000. Perritt Capital Management Inc lifted its holdings in shares of Strattec Security by 47.0% in the second quarter. Perritt Capital Management Inc now owns 10,102 shares of the auto parts company’s stock valued at $253,000 after purchasing an additional 3,229 shares in the last quarter. Central Pacific Bank Trust Division bought a new position in shares of Strattec Security in the first quarter valued at approximately $325,000. Gabelli Funds LLC boosted its position in shares of Strattec Security by 9.2% during the first quarter. Gabelli Funds LLC now owns 36,800 shares of the auto parts company’s stock valued at $873,000 after buying an additional 3,100 shares during the last quarter. Finally, Acuitas Investments LLC bought a new stake in Strattec Security during the second quarter worth $925,000. 68.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Strattec Security from a “strong-buy” rating to a “buy” rating in a report on Friday, August 2nd.

Strattec Security Stock Down 0.3 %

STRT traded down $0.12 during midday trading on Friday, hitting $37.64. The company had a trading volume of 19,359 shares, compared to its average volume of 13,451. The stock’s 50 day moving average price is $30.89 and its 200 day moving average price is $26.70. Strattec Security has a 52 week low of $20.87 and a 52 week high of $39.89. The company has a market capitalization of $154.32 million, a price-to-earnings ratio of 38.02, a PEG ratio of 1.85 and a beta of 1.13. The company has a quick ratio of 1.46, a current ratio of 2.15 and a debt-to-equity ratio of 0.06.

Strattec Security (NASDAQ:STRT) last issued its earnings results on Thursday, August 8th. The auto parts company reported $2.39 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $2.01. The business had revenue of $143.06 million during the quarter, compared to analyst estimates of $141.51 million. Strattec Security had a return on equity of 7.43% and a net margin of 3.03%. On average, research analysts anticipate that Strattec Security will post 1.98 earnings per share for the current fiscal year.

About Strattec Security

Strattec Security Corporation designs, develops, manufactures, and markets automotive access control products under the VAST Automotive Group brand primarily in North America. The company provides mechanical and electronically enhanced locks and keys, passive entry passive start systems, steering column and instrument panel ignition lock housings, latches, power sliding side door systems, power tailgate and lift gate systems, power deck lid systems, door handles, and related products.