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

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

Insiders Place Their Bets

In related news, VP Richard P. Messina sold 1,270 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $38.78, for a total value of $49,250.60. Following the completion of the sale, the vice president now directly owns 11,930 shares in the company, valued at $462,645.40. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 6.93% of the company’s stock.

Hedge Funds Weigh In On Strattec Security

A number of institutional investors have recently added to or reduced their stakes in STRT. Gamco Investors INC. ET AL grew its stake in shares of Strattec Security by 2.2% during the first quarter. Gamco Investors INC. ET AL now owns 749,115 shares of the auto parts company’s stock worth $17,776,000 after buying an additional 16,225 shares during the last quarter. Gate City Capital Management LLC bought a new stake in Strattec Security during the 4th quarter worth $10,270,000. Renaissance Technologies LLC increased its holdings in Strattec Security by 11.1% in the 2nd quarter. Renaissance Technologies LLC now owns 85,106 shares of the auto parts company’s stock worth $2,128,000 after purchasing an additional 8,500 shares in the last quarter. Acuitas Investments LLC bought a new position in Strattec Security in the second quarter valued at about $925,000. Finally, Gabelli Funds LLC boosted its stake in shares of Strattec Security by 9.2% during the first quarter. Gabelli Funds LLC now owns 36,800 shares of the auto parts company’s stock valued at $873,000 after purchasing an additional 3,100 shares in the last quarter. 68.91% of the stock is currently owned by institutional investors and hedge funds.

Strattec Security Price Performance

NASDAQ:STRT traded down $0.12 during mid-day trading on Friday, reaching $37.64. The stock had a trading volume of 19,359 shares, compared to its average volume of 13,451. Strattec Security has a 12 month low of $20.87 and a 12 month high of $39.89. The stock has a market capitalization of $154.32 million, a PE ratio of 38.02, a P/E/G ratio of 1.85 and a beta of 1.13. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.15 and a quick ratio of 1.46. The stock has a 50-day simple moving average of $30.89 and a two-hundred day simple moving average of $26.70.

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

Analysts Set New Price Targets

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

About Strattec Security

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.