Strattec Security (NASDAQ:STRT) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Strattec Security Corporation (NASDAQ:STRT) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $70.15 and traded as high as $85.87. Strattec Security shares last traded at $85.73, with a volume of 50,370 shares.

Analyst Ratings Changes

A number of brokerages have issued reports on STRT. Zacks Research cut shares of Strattec Security from a “strong-buy” rating to a “hold” rating in a report on Friday, January 2nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Strattec Security in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Strattec Security presently has a consensus rating of “Moderate Buy”.

Strattec Security Stock Performance

The company’s 50 day simple moving average is $76.21 and its 200-day simple moving average is $70.34. The firm has a market capitalization of $344.26 million, a PE ratio of 14.38, a PEG ratio of 1.57 and a beta of 1.17.

Strattec Security (NASDAQ:STRT) last released its quarterly earnings results on Thursday, October 30th. The auto parts company reported $2.22 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.74. Strattec Security had a net margin of 4.06% and a return on equity of 10.94%. The firm had revenue of $152.40 million during the quarter, compared to analyst estimates of $144.87 million. On average, equities research analysts forecast that Strattec Security Corporation will post 3.67 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Strattec Security news, VP Richard P. Messina sold 3,000 shares of the company’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $66.35, for a total value of $199,050.00. Following the transaction, the vice president directly owned 11,624 shares in the company, valued at $771,252.40. This represents a 20.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of STRT. Vanguard Group Inc. raised its stake in Strattec Security by 2.3% in the third quarter. Vanguard Group Inc. now owns 238,937 shares of the auto parts company’s stock valued at $16,262,000 after purchasing an additional 5,280 shares in the last quarter. Gabelli Funds LLC increased its holdings in shares of Strattec Security by 342.6% in the 3rd quarter. Gabelli Funds LLC now owns 138,100 shares of the auto parts company’s stock worth $9,399,000 after buying an additional 106,900 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Strattec Security by 117.3% in the 3rd quarter. Millennium Management LLC now owns 112,312 shares of the auto parts company’s stock worth $7,644,000 after buying an additional 60,628 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of Strattec Security by 27.5% during the 2nd quarter. Acadian Asset Management LLC now owns 99,522 shares of the auto parts company’s stock valued at $6,186,000 after buying an additional 21,475 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings 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 acquiring an additional 47,389 shares during the last quarter. Hedge funds and other institutional investors own 68.91% of the company’s stock.

Strattec Security Company Profile

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.