Short Interest in Strattec Security Corporation (NASDAQ:STRT) Expands By 28.4%

Strattec Security Corporation (NASDAQ:STRT - Get Free Report) was the recipient of a significant increase in short interest in August. As of August 15th, there was short interest totaling 285,400 shares, an increase of 28.4% from the July 31st total of 222,300 shares. Based on an average daily volume of 107,000 shares, the short-interest ratio is presently 2.7 days. Currently, 7.5% of the shares of the stock are sold short. Currently, 7.5% of the shares of the stock are sold short. Based on an average daily volume of 107,000 shares, the short-interest ratio is presently 2.7 days.

Strattec Security Trading Down 0.6%

NASDAQ STRT traded down $0.40 on Friday, hitting $67.96. 37,503 shares of the stock were exchanged, compared to its average volume of 92,988. Strattec Security has a 52-week low of $31.57 and a 52-week high of $83.00. 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 company has a market capitalization of $282.71 million, a price-to-earnings ratio of 14.87, a P/E/G ratio of 1.61 and a beta of 1.37. The company's 50-day moving average price is $66.72 and its two-hundred day moving average price is $53.55.

Strattec Security (NASDAQ:STRT - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The auto parts company reported $2.06 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $143.51 million. Research analysts predict that Strattec Security will post 3.67 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on STRT shares. Wall Street Zen raised Strattec Security from a "buy" rating to a "strong-buy" rating in a report on Monday, September 1st. 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 investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of "Sell".

Insider Buying and Selling

In related news, COO Rolando Guillot sold 22,890 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at $364,930.26. The trade was a 80.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 6.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Strattec Security

Institutional investors and hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC grew its holdings in shares of Strattec Security by 16.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 54,202 shares of the auto parts company's stock valued at $2,139,000 after acquiring an additional 7,726 shares in the last quarter. Ritholtz Wealth Management grew its holdings 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 valued at $1,146,000 after acquiring an additional 17,529 shares in the last quarter. Informed Momentum Co LLC purchased a new position in shares of Strattec Security during the 1st quarter valued at $899,000. American Century Companies Inc. grew its holdings 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 acquiring an additional 29,498 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of Strattec Security during the 4th quarter valued at $406,000. 68.91% of the stock is currently owned by hedge funds and other institutional investors.

About Strattec Security

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.