Pacific Ridge Capital Partners LLC Sells 9,131 Shares of Strattec Security Corporation (NASDAQ:STRT)

Key Points

• Pacific Ridge Capital Partners LLC reduced its stake in Strattec Security Corporation by 4.8%, selling 9,131 shares and now owns 180,946 shares worth approximately $7.14 million.
• Strattec Security reported quarterly earnings of $1.50 per share, surpassing analyst expectations of $0.95, with revenue of $144.08 million against estimates of $140.84 million.
• Institutional investors currently hold 68.91% of Strattec Security's stock, reflecting significant market interest after multiple firms adjusted their positions in the company recently.

Pacific Ridge Capital Partners LLC reduced its holdings in Strattec Security Corporation (NASDAQ:STRT - Free Report) by 4.8% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 180,946 shares of the auto parts company's stock after selling 9,131 shares during the quarter. Strattec Security accounts for about 1.9% of Pacific Ridge Capital Partners LLC's investment portfolio, making the stock its 11th largest position. Pacific Ridge Capital Partners LLC owned 4.34% of Strattec Security worth $7,140,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tower Research Capital LLC TRC bought a new stake in shares of Strattec Security in the 4th quarter worth approximately $33,000. Point72 Asia Singapore Pte. Ltd. raised its position in Strattec Security by 57.1% during the 4th 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 raised its holdings in shares of 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 acquiring an additional 1,280 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Strattec Security by 172.0% in the fourth quarter. JPMorgan Chase & Co. now owns 4,392 shares of the auto parts company's stock worth $181,000 after buying an additional 2,777 shares in the last quarter. Finally, Barclays PLC lifted its stake in shares of Strattec Security by 25.5% in the 4th 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 period. Hedge funds and other institutional investors own 68.91% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut Strattec Security from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 5th.

Strattec Security Stock Performance

Shares of Strattec Security stock traded down $0.40 during trading hours on Tuesday, reaching $64.12. 24,353 shares of the stock traded hands, compared to its average volume of 47,547. Strattec Security Corporation has a one year low of $22.44 and a one year high of $70.58. The firm has a market capitalization of $267.36 million, a price-to-earnings ratio of 12.95, a P/E/G ratio of 1.31 and a beta of 1.30. The company has a quick ratio of 1.72, a current ratio of 2.33 and a debt-to-equity ratio of 0.06. The company has a 50 day moving average price of $60.92 and a 200 day moving average price of $48.45.

Strattec Security (NASDAQ:STRT - Get Free Report) last released its earnings results on Thursday, May 8th. The auto parts company reported $1.50 EPS for the quarter, topping analysts' consensus estimates of $0.95 by $0.55. The company had revenue of $144.08 million for the quarter, compared to analysts' expectations of $140.84 million. Strattec Security had a net margin of 3.60% and a return on equity of 9.66%. On average, equities research analysts expect 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.