Essex Investment Management Co. LLC reduced its stake in Strattec Security Corp. (NASDAQ:STRT) by 48.8% during the second quarter, Holdings Channel reports. The fund owned 5,063 shares of the company’s stock after selling 4,832 shares during the period. Essex Investment Management Co. LLC’s holdings in Strattec Security Corp. were worth $206,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in shares of Strattec Security Corp. by 2.9% in the first quarter. Geode Capital Management LLC now owns 23,593 shares of the company’s stock worth $1,354,000 after buying an additional 668 shares in the last quarter. Prudential Financial Inc. increased its stake in shares of Strattec Security Corp. by 4.2% in the first quarter. Prudential Financial Inc. now owns 27,428 shares of the company’s stock worth $1,574,000 after buying an additional 1,100 shares in the last quarter. State Street Corp increased its stake in shares of Strattec Security Corp. by 3.9% in the first quarter. State Street Corp now owns 42,765 shares of the company’s stock worth $2,453,000 after buying an additional 1,594 shares in the last quarter. Finally, Uniplan Investment Counsel Inc. increased its stake in shares of Strattec Security Corp. by 0.5% in the first quarter. Uniplan Investment Counsel Inc. now owns 78,408 shares of the company’s stock worth $4,500,000 after buying an additional 381 shares in the last quarter. 98.04% of the stock is owned by institutional investors.
Shares of Strattec Security Corp. (NASDAQ:STRT) traded down 1.87% during midday trading on Friday, hitting $35.74. 16,672 shares of the company were exchanged. The stock has a market cap of $127.41 million, a PE ratio of 14.24 and a beta of 1.27. Strattec Security Corp. has a one year low of $34.66 and a one year high of $70.76. The stock’s 50-day moving average is $39.35 and its 200-day moving average is $46.33.
Strattec Security Corp. (NASDAQ:STRT) last issued its quarterly earnings results on Thursday, August 11th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by $0.37. Strattec Security Corp. had a net margin of 2.28% and a return on equity of 5.85%. Equities research analysts anticipate that Strattec Security Corp. will post $1.04 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were issued a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, September 14th. This is an increase from Strattec Security Corp.’s previous quarterly dividend of $0.13. This represents a $0.56 dividend on an annualized basis and a yield of 1.57%. Strattec Security Corp.’s dividend payout ratio is 22.22%.
Separately, Drexel Hamilton reaffirmed a “hold” rating on shares of Strattec Security Corp. in a research report on Monday, July 18th.
In other Strattec Security Corp. news, VP Richard P. Messina sold 1,000 shares of the stock in a transaction on Monday, August 29th. The shares were sold at an average price of $43.66, for a total value of $43,660.00. Following the completion of the sale, the vice president now directly owns 6,840 shares of the company’s stock, valued at approximately $298,634.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Patrick J. Hansen sold 999 shares of the stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $43.12, for a total transaction of $43,076.88. Following the completion of the sale, the chief financial officer now directly owns 10,449 shares of the company’s stock, valued at $450,560.88. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by company insiders.
Strattec Security Corp. Company Profile
Strattec Security Corporation designs, develops, manufactures and markets automotive access control products. The Company offers access control products, including mechanical locks and keys, electronically enhanced locks and keys, steering column and instrument panel ignition lock housings, latches, power sliding side door systems, power lift gate systems, power deck lid systems, door handles and related products for North American automotive customers.
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