Strattec Security Corporation $STRT Shares Purchased by Gabelli Funds LLC

Gabelli Funds LLC boosted its stake in Strattec Security Corporation (NASDAQ:STRT) by 41.7% during the first quarter, HoldingsChannel reports. The institutional investor owned 247,800 shares of the auto parts company’s stock after buying an additional 72,900 shares during the quarter. Gabelli Funds LLC owned about 0.06% of Strattec Security worth $19,413,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Bank of America Corp DE lifted its holdings in Strattec Security by 137.9% in the 4th quarter. Bank of America Corp DE now owns 2,208 shares of the auto parts company’s stock valued at $91,000 after purchasing an additional 1,280 shares in the last quarter. Sei Investments Co. lifted its stake in shares of Strattec Security by 100.0% in the first quarter. Sei Investments Co. now owns 17,682 shares of the auto parts company’s stock worth $1,385,000 after buying an additional 8,841 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Strattec Security by 3.6% in the first quarter. Dimensional Fund Advisors LP now owns 248,136 shares of the auto parts company’s stock worth $19,438,000 after buying an additional 8,542 shares in the last quarter. Hsbc Holdings PLC grew its stake in Strattec Security by 44.6% during the 1st quarter. Hsbc Holdings PLC now owns 4,922 shares of the auto parts company’s stock valued at $383,000 after acquiring an additional 1,518 shares in the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new stake in Strattec Security in the 1st quarter valued at about $368,000. 68.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on STRT shares. Weiss Ratings restated a “buy (b)” rating on shares of Strattec Security in a report on Wednesday, June 24th. Freedom Capital upgraded Strattec Security from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 11th. Zacks Research raised Strattec Security from a “strong sell” rating to a “hold” rating in a research note on Friday, July 10th. Finally, Wall Street Zen lowered Strattec Security from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. One equities research 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 company. Based on data from MarketBeat.com, the company has an average rating of “Buy”.

Insider Transactions at Strattec Security

In other Strattec Security news, CFO Matthew Pauli purchased 2,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was bought at an average price of $62.53 per share, with a total value of $125,060.00. Following the transaction, the chief financial officer directly owned 2,000 shares of the company’s stock, valued at approximately $125,060. This represents a ? increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jennifer Lynn Slater purchased 801 shares of the company’s stock in a transaction on Wednesday, May 13th. The stock was acquired at an average price of $62.46 per share, with a total value of $50,030.46. Following the purchase, the chief executive officer owned 57,924 shares of the company’s stock, valued at approximately $3,617,933.04. This represents a 1.40% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have acquired 4,598 shares of company stock valued at $286,440. 3.90% of the stock is currently owned by corporate insiders.

Strattec Security Trading Down 0.0%

STRT stock opened at $85.78 on Friday. The business’s fifty day moving average price is $78.66 and its 200 day moving average price is $79.43. Strattec Security Corporation has a 12-month low of $57.01 and a 12-month high of $92.50. The company has a market capitalization of $358.56 million, a PE ratio of 14.16, a P/E/G ratio of 1.77 and a beta of 1.18.

Strattec Security (NASDAQ:STRT) last released its earnings results on Thursday, May 7th. The auto parts company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.24). The firm had revenue of $137.63 million during the quarter, compared to analyst estimates of $140.35 million. Strattec Security had a net margin of 4.31% and a return on equity of 11.00%. Research analysts predict that Strattec Security Corporation will post 6.12 EPS for the current fiscal year.

Strattec Security declared that its board has initiated a share buyback plan on Thursday, May 28th that authorizes the company to repurchase $40.00 million in shares. This repurchase authorization authorizes the auto parts company to repurchase up to 12.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Strattec Security 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.