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

Shares of Strattec Security Corporation (NASDAQ:STRT) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $79.39 and traded as high as $85.82. Strattec Security shares last traded at $85.82, with a volume of 96,812 shares.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on STRT. Zacks Research raised Strattec Security from a “strong sell” rating to a “hold” rating in a research report on Friday, July 10th. Wall Street Zen downgraded Strattec Security from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Weiss Ratings restated a “buy (b)” rating on shares of Strattec Security in a research note on Wednesday, June 24th. Finally, Freedom Capital upgraded Strattec Security from a “hold” rating to a “strong-buy” rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Strattec Security currently has an average rating of “Buy”.

Strattec Security Trading Up 1.0%

The stock has a market capitalization of $358.64 million, a PE ratio of 14.16, a PEG ratio of 1.75 and a beta of 1.18. The business’s 50-day moving average is $78.29 and its two-hundred day moving average is $79.39.

Strattec Security (NASDAQ:STRT) last released its quarterly earnings data 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). The company had revenue of $137.63 million during the quarter, compared to analysts’ expectations of $140.35 million. Strattec Security had a net margin of 4.31% and a return on equity of 11.00%. On average, analysts predict that Strattec Security Corporation will post 6.12 EPS for the current year.

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

Insider Activity at Strattec Security

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in Strattec Security by 3.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 248,136 shares of the auto parts company’s stock valued at $19,438,000 after purchasing an additional 8,542 shares in the last quarter. Gabelli Funds LLC boosted its position in Strattec Security by 41.7% in the 1st 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. Vanguard Group Inc. grew its stake in shares of Strattec Security by 2.3% during the third quarter. Vanguard Group Inc. now owns 238,937 shares of the auto parts company’s stock valued at $16,262,000 after acquiring an additional 5,280 shares in the last quarter. Millennium Management LLC grew its stake in shares of Strattec Security by 117.3% during the third 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 in the last quarter. Finally, Geode Capital Management LLC grew its stake in Strattec Security by 7.0% during the 4th quarter. Geode Capital Management LLC now owns 97,246 shares of the auto parts company’s stock valued at $7,406,000 after purchasing an additional 6,403 shares in the last quarter. 68.91% of the stock is currently owned by hedge funds and other institutional investors.

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.