De Lisle Partners LLP Purchases New Position in Strattec Security Corporation $STRT

De Lisle Partners LLP purchased a new position in Strattec Security Corporation (NASDAQ:STRT) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 42,842 shares of the auto parts company’s stock, valued at approximately $3,494,000.

Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Strattec Security during the second quarter valued at approximately $26,464,000. Dimensional Fund Advisors LP increased its position in shares of Strattec Security by 3.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 248,136 shares of the auto parts company’s stock valued at $19,438,000 after purchasing an additional 8,542 shares during the last quarter. Gabelli Funds LLC raised its holdings in Strattec Security by 41.7% during the 1st quarter. Gabelli Funds LLC now owns 247,800 shares of the auto parts company’s stock valued at $19,413,000 after buying an additional 72,900 shares during the period. Vanguard Group Inc. raised its holdings in Strattec Security by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 238,937 shares of the auto parts company’s stock valued at $16,262,000 after buying an additional 5,280 shares during the period. Finally, Millennium Management LLC lifted its position in Strattec Security by 117.3% in the third 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. 68.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

STRT has been the subject of several recent analyst reports. Zacks Research raised shares of Strattec Security from a “strong sell” rating to a “hold” rating in a research note on Friday, July 10th. Weiss Ratings restated a “buy (b)” rating on shares of Strattec Security in a report on Wednesday, June 24th. Wall Street Zen cut shares of Strattec Security from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Finally, Freedom Capital raised shares of Strattec Security from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy”.

Strattec Security Stock Performance

Shares of STRT stock opened at $81.79 on Friday. Strattec Security Corporation has a 52-week low of $57.01 and a 52-week high of $92.50. The firm has a market capitalization of $341.88 million, a P/E ratio of 13.50, a P/E/G ratio of 1.69 and a beta of 1.18. The stock has a 50 day moving average price of $82.32 and a 200 day moving average price of $80.15.

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

About Strattec Security

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.