Ritholtz Wealth Management Has $1.32 Million Stock Position in Strattec Security Corporation $STRT

Ritholtz Wealth Management reduced its holdings in Strattec Security Corporation (NASDAQ:STRT) by 31.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,886 shares of the auto parts company’s stock after selling 7,616 shares during the period. Ritholtz Wealth Management owned approximately 0.40% of Strattec Security worth $1,323,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of STRT. New York State Teachers Retirement System bought a new stake in shares of Strattec Security in the fourth quarter valued at about $27,000. State of Alaska Department of Revenue bought a new stake in shares of Strattec Security in the 4th quarter worth about $58,000. Bank of America Corp DE grew its stake in Strattec Security by 137.9% during the fourth 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. bought a new stake in Strattec Security during the 2nd quarter worth approximately $92,000. Finally, New York State Common Retirement Fund bought a new stake in shares of Strattec Security during the second quarter worth $106,000. 68.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Strattec Security

In related news, CEO Jennifer Lynn Slater acquired 801 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were bought at an average price of $62.46 per share, for a total transaction of $50,030.46. Following the purchase, the chief executive officer directly owned 57,924 shares in the company, valued at approximately $3,617,933.04. This trade represents a 1.40% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Matthew Pauli purchased 2,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was purchased at an average price of $62.53 per share, with a total value of $125,060.00. Following the purchase, the chief financial officer owned 2,000 shares of the company’s stock, valued at approximately $125,060. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 4,598 shares of company stock worth $286,440 in the last 90 days. Corporate insiders own 3.90% of the company’s stock.

Strattec Security Stock Performance

Shares of Strattec Security stock opened at $82.64 on Monday. Strattec Security Corporation has a 52-week low of $57.01 and a 52-week high of $92.50. The firm has a market cap of $345.35 million, a PE ratio of 13.64, a P/E/G ratio of 1.35 and a beta of 1.17. The business’s 50 day simple moving average is $75.42 and its 200 day simple moving average is $79.18.

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

Strattec Security declared that its board has approved a stock repurchase plan on Thursday, May 28th that permits the company to repurchase $40.00 million in outstanding shares. This repurchase authorization permits the auto parts company to buy up to 12.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts recently weighed in on STRT shares. Weiss Ratings reissued a “buy (b)” rating on shares of Strattec Security in a report on Wednesday. Zacks Research downgraded shares of Strattec Security from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 12th. Freedom Capital raised shares of Strattec Security from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 11th. Finally, Wall Street Zen cut shares of Strattec Security from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. One 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’s stock. According to MarketBeat.com, Strattec Security has an average 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.