Short Interest in Strattec Security Co. (NASDAQ:STRT) Expands By 108.7%

Strattec Security Co. (NASDAQ:STRT) saw a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 14,400 shares, an increase of 108.7% from the August 31st total of 6,900 shares. Currently, 0.4% of the company’s shares are sold short. Based on an average daily trading volume, of 23,200 shares, the short-interest ratio is currently 0.6 days.

Wall Street Analyst Weigh In

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.

Strattec Security Stock Performance

STRT stock opened at $38.68 on Thursday. The firm has a market cap of $158.59 million, a PE ratio of 39.07, a price-to-earnings-growth ratio of 1.97 and a beta of 1.13. The company has a current ratio of 2.15, a quick ratio of 1.46 and a debt-to-equity ratio of 0.06. The stock has a 50-day moving average price of $33.13 and a 200-day moving average price of $27.45. Strattec Security has a 1-year low of $20.87 and a 1-year high of $39.89.

Strattec Security (NASDAQ:STRT) last issued its earnings results on Thursday, August 8th. The auto parts company reported $2.39 earnings per share for the quarter, topping analysts’ consensus estimates 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. As a group, equities research analysts expect that Strattec Security will post 1.98 earnings per share for the current year.

Insider Activity

In other news, VP Richard P. Messina sold 1,270 shares of the firm’s stock in a transaction dated 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 directly owns 11,930 shares in the company, valued at $462,645.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders sold 2,070 shares of company stock valued at $74,033. Company insiders own 6.93% of the company’s stock.

Institutional Trading of Strattec Security

Hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. bought a new position in Strattec Security during the fourth quarter worth $96,000. Perritt Capital Management Inc raised its holdings in shares of Strattec Security by 47.0% during the second quarter. Perritt Capital Management Inc now owns 10,102 shares of the auto parts company’s stock valued at $253,000 after purchasing an additional 3,229 shares during the period. Central Pacific Bank Trust Division bought a new position in shares of Strattec Security during the 1st quarter worth about $325,000. Gabelli Funds LLC grew its stake in shares of Strattec Security by 9.2% in the 1st quarter. Gabelli Funds LLC now owns 36,800 shares of the auto parts company’s stock valued at $873,000 after buying an additional 3,100 shares during the period. Finally, Acuitas Investments LLC bought a new stake in Strattec Security in the 2nd quarter valued at about $925,000. Institutional investors own 68.91% of the company’s stock.

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.