Cubist Systematic Strategies LLC Raises Stake in Strattec Security Corporation $STRT

Key Points

• Cubist Systematic Strategies LLC increased its stake in Strattec Security Corporation by 163.2%, acquiring an additional 5,771 shares to own a total of 9,308 shares worth about $367,000.
• Strattec Security reported impressive quarterly earnings, with $2.06 earnings per share exceeding analysts' expectations of $1.07, alongside revenues of $152.01 million.
• Analyst ratings on Strattec Security are mixed, with Wall Street Zen upgrading the stock to a "strong-buy" while Zacks Research downgraded it to a "strong sell," reflecting significant differences in market outlook.

Cubist Systematic Strategies LLC raised its holdings in shares of Strattec Security Corporation (NASDAQ:STRT - Free Report) by 163.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,308 shares of the auto parts company's stock after purchasing an additional 5,771 shares during the quarter. Cubist Systematic Strategies LLC owned 0.22% of Strattec Security worth $367,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Tower Research Capital LLC TRC bought a new stake in shares of Strattec Security during the fourth quarter worth $33,000. Point72 Asia Singapore Pte. Ltd. raised its holdings 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 acquiring an additional 623 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Strattec Security in the first quarter valued at about $91,000. Bank of America Corp DE raised its holdings 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 acquiring an additional 1,280 shares in the last quarter. Finally, Walleye Capital LLC bought a new stake in shares of Strattec Security in the first quarter valued at about $245,000. 68.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

STRT has been the subject of several recent research reports. Wall Street Zen upgraded Strattec Security from a "buy" rating to a "strong-buy" rating in a report on Monday, September 1st. Zacks Research downgraded Strattec Security from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 19th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Strattec Security presently has an average rating of "Sell".

Insider Buying and Selling at Strattec Security

In other news, COO Rolando Guillot sold 22,890 shares of the business's stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $65.86, for a total transaction of $1,507,535.40. Following the sale, the chief operating officer owned 5,541 shares in the company, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.40% of the company's stock.

Strattec Security Stock Down 0.6%

Strattec Security stock traded down $0.40 during trading hours on Friday, reaching $67.96. The stock had a trading volume of 37,503 shares, compared to its average volume of 92,988. The company has a market cap of $282.71 million, a price-to-earnings ratio of 14.87, a PEG ratio of 1.61 and a beta of 1.37. 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 business's 50 day moving average price is $66.72 and its 200-day moving average price is $53.58. Strattec Security Corporation has a 52 week low of $31.57 and a 52 week high of $83.00.

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