Strattec Security Corporation (NASDAQ:STRT) Position Lifted by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its stake in Strattec Security Corporation (NASDAQ:STRT - Free Report) by 16.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 54,202 shares of the auto parts company's stock after buying an additional 7,726 shares during the period. Allspring Global Investments Holdings LLC owned approximately 1.30% of Strattec Security worth $2,139,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC purchased a new position in Strattec Security in the fourth quarter valued at about $33,000. Point72 Asia Singapore Pte. Ltd. grew its position in shares of Strattec Security by 57.1% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,715 shares of the auto parts company's stock valued at $71,000 after purchasing an additional 623 shares during the last quarter. Bank of America Corp DE grew its position in shares of Strattec Security by 137.9% in the fourth quarter. Bank of America Corp DE now owns 2,208 shares of the auto parts company's stock valued at $91,000 after purchasing an additional 1,280 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Strattec Security by 172.0% in the fourth quarter. JPMorgan Chase & Co. now owns 4,392 shares of the auto parts company's stock valued at $181,000 after purchasing an additional 2,777 shares during the last quarter. Finally, Barclays PLC grew its position in shares of Strattec Security by 25.5% in the fourth quarter. Barclays PLC now owns 4,957 shares of the auto parts company's stock valued at $204,000 after purchasing an additional 1,007 shares during the last quarter. 68.91% of the stock is owned by hedge funds and other institutional investors.

Strattec Security Trading Down 1.4%

NASDAQ STRT traded down $0.93 during mid-day trading on Friday, reaching $63.80. 131,346 shares of the stock were exchanged, compared to its average volume of 33,375. Strattec Security Corporation has a 1-year low of $21.05 and a 1-year high of $70.58. The business's fifty day simple moving average is $54.51 and its 200 day simple moving average is $45.59. The stock has a market capitalization of $266.05 million, a PE ratio of 12.89, a PEG ratio of 1.40 and a beta of 1.39. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.72 and a current ratio of 2.33.

Strattec Security (NASDAQ:STRT - Get Free Report) last announced its earnings results on Thursday, May 8th. The auto parts company reported $1.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.95 by $0.55. Strattec Security had a net margin of 3.60% and a return on equity of 9.66%. The firm had revenue of $144.08 million for the quarter, compared to analyst estimates of $140.84 million. On average, research analysts anticipate that Strattec Security Corporation will post 3.67 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of Strattec Security from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 5th.

About Strattec Security

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.