Short Interest in Strattec Security Co. (NASDAQ:STRT) Drops By 24.1%

Strattec Security Co. (NASDAQ:STRT) was the target of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 6,600 shares, a drop of 24.1% from the October 15th total of 8,700 shares. Currently, 0.2% of the company’s stock are sold short. Based on an average daily trading volume, of 20,500 shares, the days-to-cover ratio is currently 0.3 days.

Strattec Security Price Performance

Shares of STRT stock traded down $0.33 during trading hours on Friday, hitting $40.64. The company had a trading volume of 12,299 shares, compared to its average volume of 14,351. The firm’s fifty day moving average is $38.52 and its 200 day moving average is $31.43. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.48 and a current ratio of 2.18. The firm has a market capitalization of $166.62 million, a price-to-earnings ratio of 10.31, a PEG ratio of 1.48 and a beta of 1.14. Strattec Security has a 12 month low of $20.87 and a 12 month high of $43.15.

Strattec Security (NASDAQ:STRT) last announced its quarterly earnings results on Monday, November 4th. The auto parts company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.36. The business had revenue of $139.05 million during the quarter, compared to the consensus estimate of $139.32 million. Strattec Security had a return on equity of 7.12% and a net margin of 2.93%. During the same quarter last year, the firm posted $1.05 EPS. On average, sell-side analysts predict that Strattec Security will post 2.76 EPS for the current fiscal year.

Institutional Trading of Strattec Security

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC purchased a new stake in Strattec Security in the third quarter worth about $1,071,000. Gabelli Funds LLC grew its position in shares of Strattec Security by 9.2% in the 1st quarter. Gabelli Funds LLC now owns 36,800 shares of the auto parts company’s stock worth $873,000 after buying an additional 3,100 shares during the last quarter. Marquette Asset Management LLC grew its holdings in shares of Strattec Security by 96.4% during the third quarter. Marquette Asset Management LLC now owns 11,332 shares of the auto parts company’s stock valued at $483,000 after buying an additional 5,563 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Strattec Security by 11.1% in the 2nd quarter. Renaissance Technologies LLC now owns 85,106 shares of the auto parts company’s stock valued at $2,128,000 after purchasing an additional 8,500 shares during the period. Finally, Acuitas Investments LLC acquired a new position in shares of Strattec Security during the 2nd quarter worth about $925,000. 68.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com upgraded Strattec Security from a “hold” rating to a “buy” rating in a research report on Thursday.

Strattec Security Company Profile

Strattec Security Corporation designs, develops, manufactures, and markets automotive access control products under the VAST Automotive Group brand primarily in North America. The company provides mechanical and electronically enhanced locks and keys, passive entry passive start systems, steering column and instrument panel ignition lock housings, latches, power sliding side door systems, power tailgate and lift gate systems, power deck lid systems, door handles, and related products.