Strattec Security (NASDAQ:STRT) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Strattec Security Corporation (NASDAQ:STRT) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $79.12 and traded as high as $81.38. Strattec Security shares last traded at $79.25, with a volume of 46,684 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on STRT shares. Wall Street Zen lowered shares of Strattec Security from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of Strattec Security in a research note on Friday, March 27th. Zacks Research cut shares of Strattec Security from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 12th. Finally, Freedom Capital raised shares of Strattec Security from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Strattec Security Trading Down 0.7%

The firm has a market capitalization of $331.19 million, a PE ratio of 13.08, a P/E/G ratio of 1.30 and a beta of 1.17. The company has a fifty day moving average price of $75.29 and a two-hundred day moving average price of $79.12.

Strattec Security (NASDAQ:STRT) last released its quarterly earnings results on Thursday, May 7th. The auto parts company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.24). The firm had revenue of $137.63 million for the quarter, compared to analysts’ expectations of $140.35 million. Strattec Security had a return on equity of 11.00% and a net margin of 4.31%. As a group, equities research analysts predict that Strattec Security Corporation will post 6.12 earnings per share for the current year.

Strattec Security announced that its Board of Directors has authorized a share buyback plan on Thursday, May 28th that permits the company to repurchase $40.00 million in shares. This repurchase authorization permits the auto parts company to buy up to 12.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other Strattec Security news, CEO Jennifer Lynn Slater bought 801 shares of the stock in a transaction dated Wednesday, May 13th. The shares were acquired at an average cost of $62.46 per share, for a total transaction of $50,030.46. Following the completion of the transaction, the chief executive officer owned 57,924 shares in the company, valued at approximately $3,617,933.04. The trade was a 1.40% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frederic Jack Liebau, Jr. bought 1,000 shares of the stock in a transaction dated Tuesday, May 12th. The shares were acquired at an average price of $61.37 per share, for a total transaction of $61,370.00. Following the completion of the transaction, the director owned 7,748 shares of the company’s stock, valued at approximately $475,494.76. The trade was a 14.82% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders bought 4,598 shares of company stock valued at $286,440. 3.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Strattec Security

Several institutional investors have recently bought and sold shares of the company. Arete Wealth Advisors LLC boosted its holdings in shares of Strattec Security by 8.4% in the first quarter. Arete Wealth Advisors LLC now owns 10,559 shares of the auto parts company’s stock valued at $831,000 after acquiring an additional 815 shares in the last quarter. Empowered Funds LLC raised its holdings in Strattec Security by 7.8% during the first quarter. Empowered Funds LLC now owns 24,898 shares of the auto parts company’s stock worth $1,951,000 after purchasing an additional 1,805 shares in the last quarter. Lazard Asset Management LLC raised its holdings in Strattec Security by 16.4% during the first quarter. Lazard Asset Management LLC now owns 40,995 shares of the auto parts company’s stock worth $3,212,000 after purchasing an additional 5,769 shares in the last quarter. Gabelli Funds LLC lifted its position in Strattec Security by 41.7% in the first quarter. Gabelli Funds LLC now owns 247,800 shares of the auto parts company’s stock valued at $19,413,000 after purchasing an additional 72,900 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its position in Strattec Security by 68.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 8,817 shares of the auto parts company’s stock valued at $691,000 after purchasing an additional 3,591 shares during the period. 68.91% of the stock is owned by institutional investors and hedge funds.

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.