Ritholtz Wealth Management Has $1.32 Million Stock Holdings in Strattec Security Corporation $STRT

Ritholtz Wealth Management trimmed its holdings in shares of Strattec Security Corporation (NASDAQ:STRT) by 31.1% during the first quarter, Holdings Channel.com reports. The fund owned 16,886 shares of the auto parts company’s stock after selling 7,616 shares during the quarter. Ritholtz Wealth Management’s holdings in Strattec Security were worth $1,323,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Gabelli Funds LLC increased its holdings in Strattec Security by 342.6% in the 3rd quarter. Gabelli Funds LLC now owns 138,100 shares of the auto parts company’s stock valued at $9,399,000 after buying an additional 106,900 shares during the period. Sierra Summit Advisors LLC bought a new stake in shares of Strattec Security during the 3rd quarter worth approximately $859,000. Teton Advisors LLC bought a new stake in shares of Strattec Security during the 3rd quarter worth approximately $2,416,000. WINTON GROUP Ltd acquired a new stake in shares of Strattec Security during the 3rd quarter worth approximately $775,000. Finally, PFG Advisors acquired a new stake in shares of Strattec Security during the 3rd quarter worth approximately $579,000. 68.91% of the stock is owned by institutional investors and hedge funds.

Strattec Security Stock Performance

Strattec Security stock opened at $82.64 on Monday. 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 price of $75.42 and a two-hundred day moving average price of $79.18. The firm has a market cap of $345.35 million, a price-to-earnings ratio of 13.64, a PEG ratio of 1.35 and a beta of 1.17.

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

Strattec Security announced that its board has initiated a share repurchase program on Thursday, May 28th that authorizes the company to buyback $40.00 million in shares. This buyback authorization authorizes the auto parts company to reacquire up to 12.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Transactions at Strattec Security

In related news, CFO Matthew Pauli purchased 2,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was acquired at an average price of $62.53 per share, for a total transaction of $125,060.00. Following the purchase, the chief financial officer 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Frederic Jack Liebau, Jr. bought 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were bought at an average cost of $61.37 per share, for a total transaction of $61,370.00. Following the transaction, the director owned 7,748 shares of the company’s stock, valued at $475,494.76. The trade was a 14.82% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 4,598 shares of company stock valued at $286,440 over the last ninety days. 3.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

STRT has been the topic of a number of research analyst reports. Zacks Research downgraded Strattec Security from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 12th. Wall Street Zen cut Strattec Security from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Freedom Capital upgraded Strattec Security from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 11th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Strattec Security in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Strattec Security has a consensus rating of “Moderate 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.