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

Strattec Security Co. (NASDAQ:STRT) was the recipient of a significant increase in short interest during 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. Approximately 0.4% of the shares of the stock are short sold. Based on an average daily volume of 23,200 shares, the short-interest ratio is presently 0.6 days.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Strattec Security news, VP Richard P. Messina sold 1,270 shares of the company’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 owns 11,930 shares of the company’s stock, valued at $462,645.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 2,070 shares of company stock valued at $74,033 over the last 90 days. Insiders own 6.93% of the company’s stock.

Institutional Investors Weigh In On Strattec Security

Large investors have recently made changes to their positions in the business. Victory Capital Management Inc. bought a new position in shares of Strattec Security during the fourth quarter valued at approximately $96,000. Perritt Capital Management Inc lifted its position in shares of Strattec Security by 47.0% in the 2nd quarter. Perritt Capital Management Inc now owns 10,102 shares of the auto parts company’s stock worth $253,000 after purchasing an additional 3,229 shares during the period. Central Pacific Bank Trust Division purchased a new stake in shares of Strattec Security in the 1st quarter worth about $325,000. Gabelli Funds LLC boosted its stake in shares of Strattec Security by 9.2% during the 1st 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. Finally, Acuitas Investments LLC purchased a new position in shares of Strattec Security during the second quarter valued at about $925,000. 68.91% of the stock is currently owned by institutional investors.

Strattec Security Trading Up 0.3 %

NASDAQ:STRT traded up $0.12 during midday trading on Friday, reaching $38.80. 6,178 shares of the stock traded hands, compared to its average volume of 13,572. The stock has a market capitalization of $159.08 million, a P/E ratio of 38.95, a PEG ratio of 1.97 and a beta of 1.13. Strattec Security has a 12 month low of $20.87 and a 12 month high of $39.89. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.46 and a current ratio of 2.15. The company has a fifty day moving average of $33.39 and a 200 day moving average of $27.53.

Strattec Security (NASDAQ:STRT) last posted 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 net margin of 3.03% and a return on equity of 7.43%. The company had revenue of $143.06 million during the quarter, compared to analyst estimates of $141.51 million. On average, research analysts predict that Strattec Security will post 1.98 EPS for the current year.

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.