Strattec Security (NASDAQ:STRT) Issues Quarterly Earnings Results, Misses Expectations By $0.32 EPS

Strattec Security (NASDAQ:STRT) announced its quarterly earnings data on Thursday. The auto parts company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.32), Zacks reports. Strattec Security had a return on equity of 12.33% and a net margin of 4.63%.The firm had revenue of $137.63 million during the quarter, compared to analysts’ expectations of $140.35 million.

Strattec Security Trading Down 16.2%

Shares of STRT traded down $12.11 during trading hours on Friday, reaching $62.45. 232,692 shares of the company’s stock traded hands, compared to its average volume of 71,027. The stock has a market cap of $261.04 million, a PE ratio of 9.46, a price-to-earnings-growth ratio of 1.21 and a beta of 1.17. The firm’s 50 day simple moving average is $78.92 and its 200-day simple moving average is $77.87. Strattec Security has a 12 month low of $37.50 and a 12 month high of $92.50.

Institutional Trading of Strattec Security

A number of large investors have recently modified their holdings of the business. Invesco Ltd. boosted its position in shares of Strattec Security by 488.0% during the 4th quarter. Invesco Ltd. now owns 48,726 shares of the auto parts company’s stock valued at $3,710,000 after acquiring an additional 40,439 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in shares of Strattec Security during the 4th quarter valued at about $1,078,000. State of Tennessee Department of Treasury purchased a new position in shares of Strattec Security during the 4th quarter valued at about $410,000. NewEdge Advisors LLC raised its holdings in shares of Strattec Security by 12.2% during the 4th quarter. NewEdge Advisors LLC now owns 6,342 shares of the auto parts company’s stock valued at $483,000 after buying an additional 690 shares in the last quarter. Finally, Empowered Funds LLC raised its holdings in shares of Strattec Security by 11.1% during the 4th quarter. Empowered Funds LLC now owns 23,093 shares of the auto parts company’s stock valued at $1,758,000 after buying an additional 2,306 shares in the last quarter. Institutional investors own 68.91% of the company’s stock.

Analyst Ratings Changes

STRT has been the subject of several analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Strattec Security in a research note on Friday, March 27th. Wall Street Zen upgraded Strattec Security from a “buy” rating to a “strong-buy” rating in a research note on Sunday, February 22nd. Freedom Capital downgraded Strattec Security from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 11th. Finally, Zacks Research downgraded Strattec Security from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 10th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Strattec Security Company Profile

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.