Janney Montgomery Scott LLC Purchases New Holdings in Strattec Security Corporation $STRT

Key Points

• Janney Montgomery Scott LLC has acquired a new stake in Strattec Security Corporation, purchasing approximately 10,698 shares valued at $666,000 during the second quarter, representing about 0.26% ownership.
• Strattec Security reported earnings of $2.06 per share for the recent quarter, significantly beating analysts’ expectations and generating revenue of $152.01 million, surpassing estimates of $143.51 million.
• The stock has shown strong trading activity with multiple institutional investors increasing their stakes, while corporate insiders, including the COO, have been selling shares, indicating mixed sentiment on ownership.

Janney Montgomery Scott LLC purchased a new stake in Strattec Security Corporation (NASDAQ:STRT - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 10,698 shares of the auto parts company's stock, valued at approximately $666,000. Janney Montgomery Scott LLC owned approximately 0.26% of Strattec Security at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of STRT. American Century Companies Inc. raised its position in shares of Strattec Security by 217.1% during the 1st quarter. American Century Companies Inc. now owns 43,088 shares of the auto parts company's stock valued at $1,700,000 after buying an additional 29,498 shares during the period. Informed Momentum Co LLC acquired a new position in shares of Strattec Security in the first quarter worth $899,000. Acadian Asset Management LLC grew its stake in shares of Strattec Security by 33.7% in the first quarter. Acadian Asset Management LLC now owns 78,047 shares of the auto parts company's stock worth $3,076,000 after acquiring an additional 19,693 shares in the last quarter. Ritholtz Wealth Management lifted its position in shares of Strattec Security by 152.1% during the 1st quarter. Ritholtz Wealth Management now owns 29,051 shares of the auto parts company's stock worth $1,146,000 after purchasing an additional 17,529 shares during the last quarter. Finally, Ellsworth Advisors LLC purchased a new stake in shares of Strattec Security during the 1st quarter worth $583,000. 68.91% of the stock is owned by hedge funds and other institutional investors.

Strattec Security Price Performance

STRT opened at $66.91 on Thursday. The company has a fifty day simple moving average of $68.76 and a 200 day simple moving average of $57.30. The firm has a market cap of $278.35 million, a price-to-earnings ratio of 14.64, a PEG ratio of 1.59 and a beta of 1.36. Strattec Security Corporation has a twelve month low of $31.57 and a twelve 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.

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 analysts' consensus estimates of $1.07 by $0.99. The business had revenue of $152.01 million during the quarter, compared to analyst estimates of $143.51 million. Strattec Security had a net margin of 3.31% and a return on equity of 8.95%. Equities research analysts expect that Strattec Security Corporation will post 3.67 EPS for the current fiscal year.

Insiders Place Their Bets

In other Strattec Security news, COO Rolando Guillot sold 22,890 shares of the firm's stock in a transaction on 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 $364,930.26. This trade represents a 80.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on STRT shares. Weiss Ratings reissued a "buy (b-)" rating on shares of Strattec Security in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Strattec Security from a "buy" rating to a "strong-buy" rating in a research report on Monday, September 1st. Finally, 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 research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Strattec Security presently has an average rating of "Hold".

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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