Strattec Security Corporation $STRT Stock Position Raised by Lazard Asset Management LLC

Lazard Asset Management LLC grew its position in shares of Strattec Security Corporation (NASDAQ:STRT) by 16.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,995 shares of the auto parts company’s stock after buying an additional 5,769 shares during the quarter. Lazard Asset Management LLC owned approximately 0.98% of Strattec Security worth $3,212,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in STRT. WINTON GROUP Ltd raised its position in Strattec Security by 1.1% during the fourth quarter. WINTON GROUP Ltd now owns 11,507 shares of the auto parts company’s stock valued at $876,000 after acquiring an additional 122 shares in the last quarter. Deutsche Bank AG lifted its stake in Strattec Security by 6.3% in the fourth quarter. Deutsche Bank AG now owns 2,907 shares of the auto parts company’s stock valued at $221,000 after acquiring an additional 172 shares during the last quarter. Bailard Inc. grew its position in Strattec Security by 5.0% in the fourth quarter. Bailard Inc. now owns 4,200 shares of the auto parts company’s stock worth $320,000 after acquiring an additional 200 shares in the last quarter. NewEdge Advisors LLC grew its position in Strattec Security by 3.8% in the third quarter. NewEdge Advisors LLC now owns 5,652 shares of the auto parts company’s stock worth $385,000 after acquiring an additional 207 shares in the last quarter. Finally, New York State Teachers Retirement System acquired a new position in shares of Strattec Security during the 4th quarter worth $27,000. Institutional investors own 68.91% of the company’s stock.

Insider Activity at Strattec Security

In other news, CEO Jennifer Lynn Slater bought 801 shares of the business’s stock in a transaction on Wednesday, May 13th. The stock was purchased at an average price of $62.46 per share, with a total value of $50,030.46. Following the transaction, the chief executive officer directly owned 57,924 shares in the company, valued at approximately $3,617,933.04. The trade was a 1.40% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Matthew Pauli purchased 2,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were purchased at an average price of $62.53 per share, with a total value of $125,060.00. Following the completion of the acquisition, the chief financial officer directly owned 2,000 shares of the company’s stock, valued at approximately $125,060. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders have bought 4,598 shares of company stock worth $286,440. 3.90% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on STRT. Freedom Capital upgraded shares of Strattec Security from a “hold” rating to a “strong-buy” rating in a report on Monday, May 11th. Wall Street Zen cut shares of Strattec Security from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Weiss Ratings reissued a “buy (b)” rating on shares of Strattec Security in a research report on Wednesday, June 24th. Finally, Zacks Research upgraded Strattec Security from a “strong sell” rating to a “hold” rating in a report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Strattec Security has a consensus rating of “Buy”.

Strattec Security Stock Down 0.6%

Shares of Strattec Security stock opened at $87.89 on Friday. Strattec Security Corporation has a 12-month low of $57.01 and a 12-month high of $92.50. The stock has a 50 day moving average price of $80.49 and a two-hundred day moving average price of $79.86. The stock has a market capitalization of $367.29 million, a P/E ratio of 14.50, a PEG ratio of 1.81 and a beta of 1.18.

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

Strattec Security declared that its board has authorized a stock repurchase program on Thursday, May 28th that allows the company to buyback $40.00 million in shares. This buyback authorization allows the auto parts company to reacquire up to 12.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

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.