Strattec Security Co. (NASDAQ:STRT) Short Interest Down 65.0% in August

Strattec Security Co. (NASDAQ:STRT) was the recipient of a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 6,900 shares, a drop of 65.0% from the August 15th total of 19,700 shares. Based on an average trading volume of 22,700 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.2% of the shares of the company are sold short.

Insider Activity at Strattec Security

In other Strattec Security news, VP Richard P. Messina sold 1,270 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $38.78, for a total transaction of $49,250.60. Following the completion of the transaction, the vice president now owns 11,930 shares in the company, valued at approximately $462,645.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.93% of the stock is owned by insiders.

Institutional Trading of Strattec Security

A number of hedge funds have recently bought and sold shares of the company. Gate City Capital Management LLC acquired a new stake in shares of Strattec Security during the fourth quarter valued at approximately $10,270,000. Victory Capital Management Inc. purchased a new stake in shares of Strattec Security in the fourth quarter valued at $96,000. Gabelli Funds LLC boosted its position in shares of Strattec Security by 9.2% in the first quarter. Gabelli Funds LLC now owns 36,800 shares of the auto parts company’s stock worth $873,000 after buying an additional 3,100 shares during the period. Central Pacific Bank Trust Division acquired a new stake in shares of Strattec Security in the first quarter worth $325,000. Finally, Acuitas Investments LLC acquired a new position in Strattec Security during the second quarter valued at $925,000. 68.91% of the stock is owned by hedge funds and other institutional investors.

Strattec Security Price Performance

Shares of STRT traded down $0.12 during midday trading on Friday, reaching $37.64. The stock had a trading volume of 19,359 shares, compared to its average volume of 13,451. The firm’s 50 day moving average price is $30.89 and its 200-day moving average price is $26.70. The company has a market capitalization of $154.32 million, a P/E ratio of 38.02, a P/E/G ratio of 1.85 and a beta of 1.13. Strattec Security has a 52 week low of $20.87 and a 52 week high of $39.89. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.15 and a quick ratio of 1.46.

Strattec Security (NASDAQ:STRT) last posted its quarterly earnings data on Thursday, August 8th. The auto parts company reported $2.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $2.01. The company had revenue of $143.06 million during the quarter, compared to analyst estimates of $141.51 million. Strattec Security had a net margin of 3.03% and a return on equity of 7.43%. On average, analysts forecast that Strattec Security will post 1.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Strattec Security from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 2nd.

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.