Strattec Security (NASDAQ:STRT) Stock Passes Above 200-Day Moving Average – Here’s What Happened

Shares of Strattec Security Corporation (NASDAQ:STRT) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $79.39 and traded as high as $85.82. Strattec Security shares last traded at $85.82, with a volume of 96,812 shares changing hands.

Analyst Ratings Changes

Several equities analysts recently issued reports on STRT shares. Wall Street Zen lowered Strattec Security from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Weiss Ratings reissued a “buy (b)” rating on shares of Strattec Security in a research note on Wednesday, June 24th. Zacks Research raised Strattec Security from a “strong sell” rating to a “hold” rating in a research note on Friday, July 10th. Finally, Freedom Capital upgraded shares of Strattec Security from a “hold” rating to a “strong-buy” rating in a report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Strattec Security presently has a consensus rating of “Buy”.

Strattec Security Stock Down 0.0%

The stock’s fifty day moving average price is $78.66 and its two-hundred day moving average price is $79.43. The company has a market capitalization of $358.56 million, a PE ratio of 14.16, a price-to-earnings-growth ratio of 1.77 and a beta of 1.18.

Strattec Security (NASDAQ:STRT) last announced its quarterly earnings results on Thursday, May 7th. The auto parts company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.24). The business had revenue of $137.63 million for the quarter, compared to analysts’ expectations of $140.35 million. Strattec Security had a net margin of 4.31% and a return on equity of 11.00%. On average, equities research analysts forecast that Strattec Security Corporation will post 6.12 EPS for the current year.

Strattec Security announced that its Board of Directors has authorized a share buyback program on Thursday, May 28th that allows the company to repurchase $40.00 million in outstanding shares. This repurchase authorization allows the auto parts company to repurchase up to 12.8% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity

In related news, CFO Matthew Pauli purchased 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were acquired at an average price of $62.53 per share, for a total transaction of $125,060.00. Following the completion of the acquisition, the chief financial officer directly owned 2,000 shares in the company, valued at approximately $125,060. The trade was a ? increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Frederic Jack Liebau, Jr. purchased 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was bought at an average price of $61.37 per share, for a total transaction of $61,370.00. Following the acquisition, the director owned 7,748 shares of the company’s stock, valued at $475,494.76. This represents a 14.82% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have acquired 4,598 shares of company stock valued at $286,440. Company insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in STRT. New York State Teachers Retirement System bought a new stake in shares of Strattec Security during the 4th quarter valued at about $27,000. State of Alaska Department of Revenue bought a new position in Strattec Security in the fourth quarter worth about $58,000. Bank of America Corp DE lifted its holdings in Strattec Security by 137.9% in the fourth quarter. Bank of America Corp DE now owns 2,208 shares of the auto parts company’s stock worth $91,000 after buying an additional 1,280 shares during the period. Raymond James Financial Inc. purchased a new stake in Strattec Security in the second quarter worth about $92,000. Finally, New York State Common Retirement Fund bought a new stake in Strattec Security during the 2nd quarter valued at approximately $106,000. 68.91% of the stock is currently owned by institutional investors.

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.