Pacific Ridge Capital Partners LLC Lowers Stake in Strattec Security Corporation $STRT

Pacific Ridge Capital Partners LLC lessened its stake in shares of Strattec Security Corporation (NASDAQ:STRT) by 46.9% during the 3rd quarter, Holdings Channel reports. The fund owned 78,561 shares of the auto parts company’s stock after selling 69,406 shares during the period. Pacific Ridge Capital Partners LLC’s holdings in Strattec Security were worth $5,347,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Geode Capital Management LLC lifted its stake in shares of Strattec Security by 110.2% during the 2nd quarter. Geode Capital Management LLC now owns 90,389 shares of the auto parts company’s stock worth $5,624,000 after purchasing an additional 47,389 shares during the last quarter. Invesco Ltd. purchased a new position in Strattec Security in the second quarter valued at about $2,831,000. Pacer Advisors Inc. purchased a new position in Strattec Security in the third quarter valued at about $2,891,000. Ameriprise Financial Inc. bought a new position in Strattec Security in the second quarter worth about $1,806,000. Finally, American Century Companies Inc. lifted its position in shares of Strattec Security by 58.9% during the second quarter. American Century Companies Inc. now owns 68,459 shares of the auto parts company’s stock valued at $4,259,000 after buying an additional 25,371 shares during the last quarter. 68.91% of the stock is currently owned by hedge funds and other institutional investors.

Strattec Security Stock Up 2.4%

Shares of Strattec Security stock opened at $90.91 on Thursday. The company has a 50 day moving average price of $82.71 and a 200 day moving average price of $74.32. The firm has a market capitalization of $380.00 million, a P/E ratio of 13.77, a PEG ratio of 1.42 and a beta of 1.19. Strattec Security Corporation has a 52 week low of $31.57 and a 52 week high of $92.50.

Strattec Security (NASDAQ:STRT) last issued its quarterly earnings results on Thursday, February 5th. The auto parts company reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.78. The business had revenue of $137.53 million for the quarter, compared to analyst estimates of $132.29 million. Strattec Security had a net margin of 4.63% and a return on equity of 12.33%. As a group, research analysts anticipate that Strattec Security Corporation will post 3.67 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on STRT shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Strattec Security in a research report on Monday, December 29th. Wall Street Zen upgraded shares of Strattec Security from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Zacks Research raised shares of Strattec Security from a “hold” rating to a “strong-buy” rating in a report on Monday, February 9th. Finally, Freedom Capital lowered Strattec Security from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Strattec Security currently has a consensus rating of “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.