Strattec Security Corporation (NASDAQ:STRT) Short Interest Update

Strattec Security Corporation (NASDAQ:STRT) was the recipient of a significant increase in short interest in August. As of August 15th, there was short interest totaling 285,400 shares, an increase of 28.4% from the July 31st total of 222,300 shares. Currently, 7.5% of the shares of the company are short sold. Based on an average daily volume of 107,000 shares, the days-to-cover ratio is currently 2.7 days. Based on an average daily volume of 107,000 shares, the days-to-cover ratio is currently 2.7 days. Currently, 7.5% of the shares of the company are short sold.

Strattec Security Stock Down 0.9%

STRT stock opened at $67.38 on Wednesday. Strattec Security has a fifty-two week low of $31.57 and a fifty-two week high of $83.00. The business’s 50-day moving average is $66.87 and its two-hundred day moving average is $53.18. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.89 and a current ratio of 2.43. The company has a market cap of $280.30 million, a price-to-earnings ratio of 14.74, a P/E/G ratio of 1.60 and a beta of 1.37.

Strattec Security (NASDAQ:STRT) last posted its earnings results on Thursday, August 14th. The auto parts company reported $2.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.99. Strattec Security had a return on equity of 8.95% and a net margin of 3.31%.The company had revenue of $152.01 million for the quarter, compared to the consensus estimate of $143.51 million. As a group, analysts forecast that Strattec Security will post 3.67 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on STRT. Zacks Research downgraded Strattec Security from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 19th. Wall Street Zen raised Strattec Security from a “buy” rating to a “strong-buy” rating in a report on Monday, September 1st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Strattec Security has a consensus rating of “Sell”.

Insider Activity

In other news, COO Rolando Guillot sold 22,890 shares of the company’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $65.86, for a total transaction of $1,507,535.40. Following the transaction, the chief operating officer directly owned 5,541 shares of the company’s stock, valued at $364,930.26. This represents a 80.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 6.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC raised its stake in shares of Strattec Security by 27.5% in the second quarter. Acadian Asset Management LLC now owns 99,522 shares of the auto parts company’s stock worth $6,186,000 after buying an additional 21,475 shares during the period. Geode Capital Management LLC raised its stake in shares of Strattec Security by 110.2% in the second quarter. Geode Capital Management LLC now owns 90,389 shares of the auto parts company’s stock worth $5,624,000 after buying an additional 47,389 shares during the period. American Century Companies Inc. raised its stake in shares of Strattec Security by 58.9% in the second quarter. American Century Companies Inc. now owns 68,459 shares of the auto parts company’s stock worth $4,259,000 after buying an additional 25,371 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Strattec Security by 16.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 54,202 shares of the auto parts company’s stock worth $2,139,000 after buying an additional 7,726 shares during the period. Finally, De Lisle Partners LLP raised its stake in shares of Strattec Security by 10.7% in the second quarter. De Lisle Partners LLP now owns 48,842 shares of the auto parts company’s stock worth $3,023,000 after buying an additional 4,713 shares during the period. Institutional investors own 68.91% of the company’s stock.

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.