Empowered Funds LLC Acquires New Holdings in Strattec Security Corporation $STRT

Empowered Funds LLC acquired a new stake in Strattec Security Corporation (NASDAQ:STRT) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 26,702 shares of the auto parts company’s stock, valued at approximately $2,175,000.

A number of other institutional investors have also recently bought and sold shares of STRT. New York State Teachers Retirement System bought a new stake in Strattec Security in the 4th quarter valued at approximately $27,000. Legal & General Group Plc bought a new position in shares of Strattec Security in the 2nd quarter valued at about $34,000. Bank of America Corp DE grew its holdings in Strattec Security by 137.9% during the fourth quarter. Bank of America Corp DE now owns 2,208 shares of the auto parts company’s stock worth $91,000 after purchasing an additional 1,280 shares during the period. Raymond James Financial Inc. acquired a new position in Strattec Security during the second quarter worth approximately $92,000. Finally, New York State Common Retirement Fund bought a new stake in Strattec Security in the second quarter valued at approximately $106,000. Institutional investors own 68.91% of the company’s stock.

Strattec Security Stock Up 5.6%

Shares of STRT stock opened at $73.07 on Thursday. Strattec Security Corporation has a 12-month low of $57.01 and a 12-month high of $93.00. The company has a market capitalization of $290.82 million, a PE ratio of 14.61, a price-to-earnings-growth ratio of 1.62 and a beta of 1.17. The firm has a 50 day moving average price of $81.38 and a two-hundred day moving average price of $79.32.

Strattec Security (NASDAQ:STRT) last posted its earnings results on Tuesday, August 25th. The auto parts company reported $2.06 EPS for the quarter, beating the consensus estimate of $1.36 by $0.70. The company had revenue of $151.83 million for the quarter, compared to the consensus estimate of $146.77 million. Strattec Security had a return on equity of 10.79% and a net margin of 3.56%. As a group, research analysts expect that Strattec Security Corporation will post 4.27 EPS for the current year.

Strattec Security declared that its board has authorized a stock repurchase program on Thursday, May 28th that permits the company to buyback $40.00 million in outstanding shares. This buyback authorization permits the auto parts company to reacquire up to 12.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

STRT has been the subject of a number of recent analyst reports. Zacks Research raised Strattec Security from a “strong sell” rating to a “hold” rating in a research report on Friday, July 10th. Freedom Capital upgraded Strattec Security from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 11th. Weiss Ratings reaffirmed 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 report on Sunday, May 17th. Finally, Freedom Broker reiterated a “hold” rating and issued a $83.00 price objective (down from $89.00) on shares of Strattec Security in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.00.

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.