9,408 Shares in Strattec Security Corporation $STRT Bought by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio purchased a new stake in shares of Strattec Security Corporation (NASDAQ:STRT) during the 2nd quarter, HoldingsChannel reports. The firm purchased 9,408 shares of the auto parts company’s stock, valued at approximately $766,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STRT. Legal & General Group Plc acquired a new position in shares of Strattec Security in the second quarter worth about $34,000. Bank of America Corp DE boosted its stake in shares of Strattec Security by 137.9% during the 4th quarter. Bank of America Corp DE now owns 2,208 shares of the auto parts company’s stock worth $91,000 after acquiring an additional 1,280 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Strattec Security during the 2nd quarter valued at about $92,000. New York State Common Retirement Fund acquired a new stake in shares of Strattec Security during the 2nd quarter valued at about $106,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Strattec Security in the 2nd quarter valued at about $132,000. Hedge funds and other institutional investors own 68.91% of the company’s stock.

Strattec Security Stock Down 2.9%

STRT stock opened at $72.16 on Thursday. Strattec Security Corporation has a 52 week low of $57.01 and a 52 week high of $93.00. The firm has a 50-day simple moving average of $80.64 and a 200-day simple moving average of $78.77. The stock has a market capitalization of $287.20 million, a P/E ratio of 14.43, a P/E/G ratio of 1.74 and a beta of 1.17.

Strattec Security (NASDAQ:STRT) last issued its quarterly earnings results on Tuesday, August 25th. The auto parts company reported $2.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.70. Strattec Security had a net margin of 3.56% and a return on equity of 10.79%. The firm had revenue of $151.83 million for the quarter, compared to analyst estimates of $146.77 million. On average, analysts expect that Strattec Security Corporation will post 4.27 earnings per share for the current year.

Strattec Security declared that its board has approved a stock buyback plan on Thursday, May 28th that permits the company to repurchase $40.00 million in shares. This repurchase authorization permits the auto parts company to purchase up to 12.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on STRT shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Strattec Security in a report on Wednesday, June 24th. Zacks Research raised Strattec Security from a “strong sell” rating to a “hold” rating in a report on Friday, July 10th. Freedom Broker restated a “hold” rating and issued a $83.00 price objective (down from $89.00) on shares of Strattec Security in a research report on Monday, August 31st. Finally, Wall Street Zen downgraded Strattec Security from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $83.00.

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.