Strattec Security Corporation (NASDAQ:STRT) Short Interest Up 13.3% in April

Strattec Security Corporation (NASDAQ:STRT) was the recipient of a large increase in short interest during the month of April. As of April 15th, there was short interest totaling 181,383 shares, an increase of 13.3% from the March 31st total of 160,090 shares. Based on an average trading volume of 113,195 shares, the short-interest ratio is presently 1.6 days. Currently, 4.5% of the company’s shares are short sold.

Hedge Funds Weigh In On Strattec Security

Institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its position in shares of Strattec Security by 36.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 58,631 shares of the auto parts company’s stock worth $3,990,000 after acquiring an additional 15,509 shares during the period. Gabelli Funds LLC increased its position in shares of Strattec Security by 342.6% during the third quarter. Gabelli Funds LLC now owns 138,100 shares of the auto parts company’s stock worth $9,399,000 after acquiring an additional 106,900 shares during the period. Sierra Summit Advisors LLC purchased a new position in shares of Strattec Security during the third quarter worth approximately $859,000. Teton Advisors LLC purchased a new position in shares of Strattec Security during the third quarter worth approximately $2,416,000. Finally, Principal Financial Group Inc. purchased a new position in shares of Strattec Security during the third quarter worth approximately $428,000. 68.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on STRT. Freedom Capital downgraded shares of Strattec Security from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 11th. Wall Street Zen raised shares of Strattec Security from a “buy” rating to a “strong-buy” rating in a report on Sunday, February 22nd. Zacks Research downgraded shares of Strattec Security from a “strong-buy” rating to a “hold” rating in a report on Friday, April 10th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Strattec Security in a report on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Strattec Security currently has a consensus rating of “Hold”.

Strattec Security Price Performance

Strattec Security stock opened at $72.60 on Friday. Strattec Security has a 1-year low of $33.26 and a 1-year high of $92.50. The firm has a market capitalization of $303.47 million, a P/E ratio of 11.00, a price-to-earnings-growth ratio of 1.20 and a beta of 1.25. The company’s 50-day moving average is $79.75 and its 200 day moving average is $77.51.

Strattec Security (NASDAQ:STRT) last posted its quarterly earnings data on Thursday, February 5th. The auto parts company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.78. Strattec Security had a net margin of 4.63% and a return on equity of 12.33%. The company had revenue of $137.53 million for the quarter, compared to analyst estimates of $132.29 million. Research analysts anticipate that Strattec Security will post 6.25 earnings per share for the current fiscal year.

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.