Gamco Investors INC. ET AL Sells 26,500 Shares of Strattec Security Corporation $STRT

Key Points

• Gamco Investors INC. has reduced its stake in Strattec Security Corporation by 3.7% during the first quarter, now owning 694,279 shares valued at approximately $27.4 million.
• Several institutional investors have also adjusted their positions in Strattec Security, with 68.91% of the stock currently held by institutional investors and hedge funds.
• Strattec Security reported earnings of $2.06 per share for the latest quarter, significantly exceeding analysts' expectations of $1.07, and also saw revenue of $152.01 million compared to estimates of $143.51 million.

Gamco Investors INC. ET AL lowered its stake in shares of Strattec Security Corporation (NASDAQ:STRT - Free Report) by 3.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 694,279 shares of the auto parts company's stock after selling 26,500 shares during the quarter. Gamco Investors INC. ET AL owned about 16.64% of Strattec Security worth $27,396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. grew its holdings in 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 worth $71,000 after purchasing an additional 623 shares during the period. Tower Research Capital LLC TRC purchased a new stake in shares of Strattec Security during the fourth quarter valued at approximately $33,000. Barclays PLC grew its holdings in shares of Strattec Security by 25.5% during the fourth quarter. Barclays PLC now owns 4,957 shares of the auto parts company's stock valued at $204,000 after buying an additional 1,007 shares during the last quarter. De Lisle Partners LLP lifted its position in Strattec Security by 2.4% during the first quarter. De Lisle Partners LLP now owns 44,129 shares of the auto parts company's stock valued at $1,736,000 after purchasing an additional 1,035 shares during the period. Finally, Bank of America Corp DE lifted its position 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 valued at $91,000 after purchasing an additional 1,280 shares during the period. Hedge funds and other institutional investors own 68.91% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Zacks Research downgraded shares of Strattec Security from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 19th. Wall Street Zen downgraded shares of Strattec Security from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 24th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Strattec Security has a consensus rating of "Sell".

Strattec Security Price Performance

STRT traded down $0.39 during trading on Friday, hitting $65.87. 76,687 shares of the company traded hands, compared to its average volume of 143,793. The company has a market cap of $274.09 million, a PE ratio of 14.41, a P/E/G ratio of 1.55 and a beta of 1.30. The stock's 50-day simple moving average is $65.94 and its two-hundred day simple moving average is $52.35. Strattec Security Corporation has a 1 year low of $31.57 and a 1 year high of $83.00. The company has a current ratio of 2.43, a quick ratio of 1.72 and a debt-to-equity ratio of 0.03.

Strattec Security (NASDAQ:STRT - Get Free Report) last posted its 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 company had revenue of $152.01 million during the quarter, compared to analysts' expectations of $143.51 million. Strattec Security had a net margin of 3.31% and a return on equity of 8.95%. As a group, sell-side analysts anticipate that Strattec Security Corporation will post 3.67 earnings per share for the current fiscal year.

Strattec Security 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.