Strattec Security (NASDAQ:STRT) Announces Quarterly Earnings Results, Beats Estimates By $0.78 EPS

Strattec Security (NASDAQ:STRT) posted its earnings results on Thursday. The auto parts company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.78, FiscalAI reports. Strattec Security had a net margin of 4.06% and a return on equity of 10.94%. The business had revenue of $137.53 million for the quarter, compared to analyst estimates of $132.29 million.

Strattec Security Price Performance

NASDAQ STRT traded down $1.07 during trading on Thursday, hitting $86.24. The company’s stock had a trading volume of 40,471 shares, compared to its average volume of 44,107. Strattec Security has a fifty-two week low of $31.57 and a fifty-two week high of $89.00. The company has a market cap of $360.91 million, a PE ratio of 15.08, a P/E/G ratio of 1.55 and a beta of 1.19. The business’s 50 day simple moving average is $79.48 and its 200-day simple moving average is $71.78.

Insiders Place Their Bets

In other Strattec Security news, VP Richard P. Messina sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $66.35, for a total transaction of $199,050.00. Following the transaction, the vice president owned 11,624 shares in the company, valued at approximately $771,252.40. This represents a 20.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Strattec Security

Several institutional investors and hedge funds have recently modified their holdings of STRT. Bank of America Corp DE raised its position in Strattec Security by 137.9% in the fourth quarter. Bank of America Corp DE now owns 2,208 shares of the auto parts company’s stock valued at $91,000 after purchasing an additional 1,280 shares during the period. Raymond James Financial Inc. purchased a new position in Strattec Security in the 2nd quarter valued at approximately $92,000. New York State Common Retirement Fund purchased a new position in Strattec Security during the second quarter worth $106,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Strattec Security in the second quarter valued at $132,000. Finally, Triumph Capital Management purchased a new stake in Strattec Security in the 3rd quarter worth approximately $133,000. Institutional investors and hedge funds own 68.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on STRT. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Strattec Security in a research note on Monday, December 29th. Zacks Research lowered Strattec Security from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 2nd. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

About Strattec Security

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.