Strattec Security (NASDAQ:STRT) Announces Earnings Results, Beats Estimates By $0.78 EPS

Strattec Security (NASDAQ:STRT) issued its quarterly earnings data on Thursday. The auto parts company reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.78, FiscalAI reports. Strattec Security had a return on equity of 10.94% and a net margin of 4.06%.The firm had revenue of $137.53 million during the quarter, compared to analyst estimates of $132.29 million.

Strattec Security Stock Performance

STRT stock traded down $1.07 during midday trading on Thursday, hitting $86.24. 40,471 shares of the company’s stock were exchanged, compared to its average volume of 44,107. Strattec Security has a one year low of $31.57 and a one year high of $89.00. The company has a market cap of $360.91 million, a PE ratio of 15.08, a price-to-earnings-growth ratio of 1.55 and a beta of 1.19. The stock’s fifty day moving average price is $79.48 and its 200-day moving average price is $71.78.

Insider Activity at Strattec Security

In other news, VP Richard P. Messina sold 3,000 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $66.35, for a total transaction of $199,050.00. Following the transaction, the vice president owned 11,624 shares in the company, valued at approximately $771,252.40. This trade represents a 20.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Strattec Security

Institutional investors have recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. bought a new position in Strattec Security during the 3rd quarter worth $4,353,000. Millennium Management LLC lifted its holdings in shares of Strattec Security by 117.3% in the third quarter. Millennium Management LLC now owns 112,312 shares of the auto parts company’s stock worth $7,644,000 after acquiring an additional 60,628 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Strattec Security by 110.2% during the 2nd quarter. Geode Capital Management LLC now owns 90,389 shares of the auto parts company’s stock valued at $5,624,000 after acquiring an additional 47,389 shares in the last quarter. Invesco Ltd. bought a new position in shares of Strattec Security in the 2nd quarter worth about $2,831,000. Finally, Bridgeway Capital Management LLC increased its position in Strattec Security by 84.4% in the 3rd quarter. Bridgeway Capital Management LLC now owns 78,599 shares of the auto parts company’s stock valued at $5,349,000 after buying an additional 35,986 shares in the last quarter. 68.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on STRT. Weiss Ratings reissued a “buy (b)” rating on shares of Strattec Security in a report on Monday, December 29th. Zacks Research lowered shares of Strattec Security from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 2nd. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Strattec Security has a consensus rating of “Moderate Buy”.

About Strattec Security

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.