Baird Financial Group Inc. Boosts Stock Holdings in Strattec Security Corporation $STRT

Key Points

• Baird Financial Group Inc. increased its stake in Strattec Security Corporation by 45.9% in the 1st quarter, owning a total of 14,298 shares valued at approximately $564,000.
• Strattec Security reported strong quarterly earnings, with $2.06 EPS that exceeded analysts’ expectations of $1.07, alongside a revenue of $152.01 million.
• Despite enhanced performance, Strattec Security has received mixed ratings from analysts, with one recent upgrade to a "strong-buy" and others downgrading to "strong sell."

Baird Financial Group Inc. boosted its stake in shares of Strattec Security Corporation (NASDAQ:STRT - Free Report) by 45.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,298 shares of the auto parts company's stock after acquiring an additional 4,498 shares during the period. Baird Financial Group Inc. owned 0.34% of Strattec Security worth $564,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. OMERS ADMINISTRATION Corp purchased a new position in Strattec Security during the first quarter valued at $430,000. Walleye Capital LLC purchased a new position in Strattec Security during the first quarter valued at $245,000. American Century Companies Inc. grew its stake in Strattec Security by 217.1% during the first quarter. American Century Companies Inc. now owns 43,088 shares of the auto parts company's stock valued at $1,700,000 after acquiring an additional 29,498 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in Strattec Security during the first quarter valued at $91,000. Finally, Informed Momentum Co LLC purchased a new position in Strattec Security during the first quarter valued at $899,000. 68.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Strattec Security

In related news, COO Rolando Guillot sold 22,890 shares of Strattec Security stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $65.86, for a total transaction 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 6.40% of the company's stock.

Strattec Security Price Performance

STRT stock opened at $67.30 on Thursday. Strattec Security Corporation has a 12 month low of $31.57 and a 12 month high of $83.00. The company has a current ratio of 2.43, a quick ratio of 1.89 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average price of $66.88 and a 200 day moving average price of $53.28. The stock has a market cap of $279.97 million, a PE ratio of 14.73, a P/E/G ratio of 1.59 and a beta of 1.37.

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Wall Street Zen raised shares of Strattec Security from a "buy" rating to a "strong-buy" rating in a research note on Monday, September 1st. Zacks Research cut shares of Strattec Security from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 19th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Strattec Security currently has an average rating of "Sell".

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.

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