Strattec Security Co. (NASDAQ:STRT) Sees Large Decrease in Short Interest

Strattec Security Co. (NASDAQ:STRT) was the recipient of a significant decline in short interest in October. As of October 31st, there was short interest totalling 6,600 shares, a decline of 24.1% from the October 15th total of 8,700 shares. Approximately 0.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 20,500 shares, the short-interest ratio is presently 0.3 days.

Hedge Funds Weigh In On Strattec Security

Several large investors have recently bought and sold shares of STRT. Gamco Investors INC. ET AL boosted its holdings in Strattec Security by 2.2% during the first quarter. Gamco Investors INC. ET AL now owns 749,115 shares of the auto parts company’s stock worth $17,776,000 after buying an additional 16,225 shares during the last quarter. Gabelli Funds LLC grew its holdings in Strattec Security by 9.2% during the first quarter. Gabelli Funds LLC now owns 36,800 shares of the auto parts company’s stock valued at $873,000 after purchasing an additional 3,100 shares during the period. Acuitas Investments LLC bought a new stake in Strattec Security in the second quarter valued at approximately $925,000. Perritt Capital Management Inc boosted its position in shares of Strattec Security by 47.0% during the second quarter. Perritt Capital Management Inc now owns 10,102 shares of the auto parts company’s stock worth $253,000 after purchasing an additional 3,229 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Strattec Security by 11.1% in the 2nd quarter. Renaissance Technologies LLC now owns 85,106 shares of the auto parts company’s stock valued at $2,128,000 after purchasing an additional 8,500 shares during the period. 68.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com raised Strattec Security from a “hold” rating to a “buy” rating in a report on Thursday.

Strattec Security Trading Up 1.4 %

STRT stock traded up $0.59 during trading on Friday, hitting $41.56. The company had a trading volume of 3,001 shares, compared to its average volume of 14,309. The stock has a market cap of $170.40 million, a price-to-earnings ratio of 10.28, a PEG ratio of 1.48 and a beta of 1.14. The company has a quick ratio of 1.48, a current ratio of 2.18 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average price of $38.40 and a 200-day moving average price of $31.31. Strattec Security has a 12 month low of $20.87 and a 12 month high of $43.15.

Strattec Security (NASDAQ:STRT) last announced its quarterly earnings data on Monday, November 4th. The auto parts company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.36. The firm had revenue of $139.05 million during the quarter, compared to analyst estimates of $139.32 million. Strattec Security had a return on equity of 7.12% and a net margin of 2.93%. During the same period last year, the company earned $1.05 earnings per share. As a group, analysts predict that Strattec Security will post 2.76 earnings per share for the current year.

Strattec Security Company Profile

Strattec Security Corporation designs, develops, manufactures, and markets automotive access control products under the VAST Automotive Group brand primarily in North America. The company provides mechanical and electronically enhanced locks and keys, passive entry passive start systems, steering column and instrument panel ignition lock housings, latches, power sliding side door systems, power tailgate and lift gate systems, power deck lid systems, door handles, and related products.