Public Employees Retirement System of Ohio Takes $766,000 Position in Strattec Security Corporation $STRT

Public Employees Retirement System of Ohio bought a new position in Strattec Security Corporation (NASDAQ:STRT) in the second quarter, according to its most recent filing with the SEC. The firm bought 9,408 shares of the auto parts company’s stock, valued at approximately $766,000. Public Employees Retirement System of Ohio owned approximately 0.23% of Strattec Security as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of STRT. BlackRock Inc. acquired a new position in Strattec Security during the 2nd quarter valued at approximately $26,464,000. Gabelli Funds LLC grew its holdings in shares of Strattec Security by 41.7% during the first quarter. Gabelli Funds LLC now owns 247,800 shares of the auto parts company’s stock valued at $19,413,000 after buying an additional 72,900 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Strattec Security during the third quarter valued at $4,353,000. Millennium Management LLC increased its position in shares of Strattec Security by 117.3% in the 3rd quarter. Millennium Management LLC now owns 112,312 shares of the auto parts company’s stock valued at $7,644,000 after acquiring an additional 60,628 shares during the period. Finally, Geode Capital Management LLC raised its stake in Strattec Security by 110.2% in the 2nd quarter. Geode Capital Management LLC now owns 90,389 shares of the auto parts company’s stock worth $5,624,000 after acquiring an additional 47,389 shares during the last quarter. Hedge funds and other institutional investors own 68.91% of the company’s stock.

Analyst Upgrades and Downgrades

STRT has been the topic of several research analyst reports. Wall Street Zen downgraded Strattec Security from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Zacks Research upgraded Strattec Security from a “strong sell” rating to a “hold” rating in a research note on Friday, July 10th. Freedom Broker reaffirmed a “hold” rating and set a $83.00 target price (down from $89.00) on shares of Strattec Security in a report on Monday, August 31st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Strattec Security in a report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.00.

Strattec Security Stock Performance

Shares of STRT opened at $72.16 on Thursday. The business’s 50-day moving average is $80.64 and its two-hundred day moving average is $78.77. The company has a market capitalization of $287.20 million, a P/E ratio of 14.43, a P/E/G ratio of 1.74 and a beta of 1.17. Strattec Security Corporation has a fifty-two week low of $57.01 and a fifty-two week high of $93.00.

Strattec Security (NASDAQ:STRT) last issued its quarterly earnings data on Tuesday, August 25th. The auto parts company reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.70. Strattec Security had a return on equity of 10.79% and a net margin of 3.56%.The business had revenue of $151.83 million during the quarter, compared to analysts’ expectations of $146.77 million. Analysts forecast that Strattec Security Corporation will post 4.27 EPS for the current year.

Strattec Security announced that its board has approved a stock buyback program on Thursday, May 28th that authorizes the company to repurchase $40.00 million in outstanding shares. This repurchase authorization authorizes the auto parts company to reacquire up to 12.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Strattec Security 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.