Acadian Asset Management LLC Buys 19,693 Shares of Strattec Security Corporation $STRT

Key Points

• Acadian Asset Management LLC increased its stake in Strattec Security Corporation by 33.7% in Q1, holding 78,047 shares worth approximately $3.08 million.
• Several institutional investors also significantly changed their positions, with Point72 Asia Singapore Pte. Ltd. boosting its holdings by 57.1% in Q4, and Bank of America Corp DE increasing its stake by 137.9%.
• The company reported earnings of $2.06 per share in its latest quarter, surpassing analysts' expectations of $1.07 and showing a revenue of $$152.01 million.

Acadian Asset Management LLC grew its stake in shares of Strattec Security Corporation (NASDAQ:STRT - Free Report) by 33.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 78,047 shares of the auto parts company's stock after purchasing an additional 19,693 shares during the period. Acadian Asset Management LLC owned about 1.87% of Strattec Security worth $3,076,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. boosted its holdings in Strattec Security by 57.1% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,715 shares of the auto parts company's stock worth $71,000 after purchasing an additional 623 shares during the last quarter. Bank of America Corp DE lifted 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 acquiring an additional 1,280 shares during the period. Russell Investments Group Ltd. purchased a new position in Strattec Security in the first quarter worth $91,000. Walleye Capital LLC purchased a new stake in shares of Strattec Security during the 1st quarter valued at $245,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Strattec Security during the 1st quarter worth $292,000. 68.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Strattec Security news, COO Rolando Guillot sold 22,890 shares of the business's stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $65.86, for a total value of $1,507,535.40. Following the completion of the transaction, the chief operating officer directly owned 5,541 shares of the company's stock, valued at approximately $364,930.26. The trade was a 80.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Wall Street Zen upgraded Strattec Security from a "buy" rating to a "strong-buy" rating in a research note on Monday, September 1st. Zacks Research lowered shares of Strattec Security from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 19th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of "Sell".

Strattec Security Stock Performance

Strattec Security stock traded down $1.41 during mid-day trading on Friday, reaching $70.45. 126,428 shares of the stock traded hands, compared to its average volume of 69,146. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.43 and a quick ratio of 1.89. The stock has a market capitalization of $293.07 million, a PE ratio of 15.42, a price-to-earnings-growth ratio of 1.69 and a beta of 1.37. Strattec Security Corporation has a 12-month low of $31.57 and a 12-month high of $83.00. The business's 50-day moving average is $67.20 and its 200-day moving average is $54.28.

Strattec Security (NASDAQ:STRT - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The auto parts company reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.99. The business had revenue of $152.01 million during the quarter, compared to analysts' expectations of $143.51 million. Strattec Security had a return on equity of 8.95% and a net margin of 3.31%. As a group, sell-side analysts predict that Strattec Security Corporation will post 3.67 EPS for the current fiscal year.

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.