Gamco Investors INC. ET AL Sells 55,350 Shares of Strattec Security Corporation $STRT

Gamco Investors INC. ET AL decreased its holdings in Strattec Security Corporation (NASDAQ:STRT) by 9.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 514,529 shares of the auto parts company’s stock after selling 55,350 shares during the period. Gamco Investors INC. ET AL owned about 12.31% of Strattec Security worth $40,308,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in STRT. New York State Teachers Retirement System bought a new position in shares of Strattec Security in the fourth quarter worth about $27,000. State of Alaska Department of Revenue bought a new stake in Strattec Security during the 4th quarter valued at about $58,000. Bank of America Corp DE lifted its holdings in Strattec Security by 137.9% during the 4th quarter. Bank of America Corp DE now owns 2,208 shares of the auto parts company’s stock valued at $91,000 after buying an additional 1,280 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Strattec Security during the 2nd quarter valued at about $92,000. Finally, New York State Common Retirement Fund purchased a new stake in Strattec Security in the 2nd quarter valued at about $106,000. 68.91% of the stock is currently owned by institutional investors.

Strattec Security Stock Down 0.0%

Shares of NASDAQ:STRT opened at $85.78 on Friday. The company has a market capitalization of $358.56 million, a price-to-earnings ratio of 14.16, a price-to-earnings-growth ratio of 1.77 and a beta of 1.18. Strattec Security Corporation has a 52 week low of $57.01 and a 52 week high of $92.50. The firm has a 50 day moving average of $78.66 and a 200 day moving average of $79.43.

Strattec Security (NASDAQ:STRT) last announced its earnings results on Thursday, May 7th. The auto parts company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.24). Strattec Security had a net margin of 4.31% and a return on equity of 11.00%. The company had revenue of $137.63 million for the quarter, compared to the consensus estimate of $140.35 million. On average, sell-side analysts expect that Strattec Security Corporation will post 6.12 EPS for the current year.

Strattec Security announced that its board has authorized a share 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 purchase up to 12.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Strattec Security

In related news, Director Frederic Jack Liebau, Jr. acquired 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was purchased at an average cost of $61.37 per share, for a total transaction of $61,370.00. Following the purchase, the director directly owned 7,748 shares of the company’s stock, valued at $475,494.76. This trade represents a 14.82% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Matthew Pauli acquired 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were bought at an average cost of $62.53 per share, for a total transaction of $125,060.00. Following the transaction, the chief financial officer 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 three months, insiders purchased 4,598 shares of company stock valued at $286,440. Corporate insiders own 3.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on STRT. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Strattec Security in a research report on Wednesday, June 24th. Wall Street Zen lowered Strattec Security from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Zacks Research raised Strattec Security from a “strong sell” rating to a “hold” rating in a research note on Friday, July 10th. Finally, Freedom Capital raised Strattec Security from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy”.

Strattec Security 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.