Strattec Security (NASDAQ:STRT) Announces Earnings Results

Key Points

• Strattec Security reported a quarterly earnings per share (EPS) of $2.06, significantly exceeding analysts' expectations of $1.07.
• The company generated revenues of $152.01 million, surpassing the forecast of $143.51 million.
• Institutional investors have shown increased interest, with 68.91% of stocks now owned by such entities, including significant purchases by Bank of America and BNP Paribas.

Strattec Security (NASDAQ:STRT - Get Free Report) announced its quarterly earnings results on Thursday. The auto parts company reported $2.06 earnings per share for the quarter, beating analysts' consensus estimates of $1.07 by $0.99, Zacks reports. Strattec Security had a net margin of 3.31% and a return on equity of 9.11%. The firm had revenue of $152.01 million for the quarter, compared to analysts' expectations of $143.51 million.

Strattec Security Stock Performance

STRT stock traded down $2.4050 during trading on Tuesday, hitting $68.6150. 125,029 shares of the company's stock traded hands, compared to its average volume of 55,849. The stock has a fifty day moving average price of $64.62 and a two-hundred day moving average price of $50.82. The stock has a market capitalization of $285.99 million, a price-to-earnings ratio of 15.04, a price-to-earnings-growth ratio of 1.60 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. Strattec Security has a 52 week low of $31.57 and a 52 week high of $83.00.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Strattec Security from a "buy" rating to a "strong-buy" rating in a research report on Saturday.

Hedge Funds Weigh In On Strattec Security

Institutional investors have recently modified their holdings of the company. Bank of America Corp DE grew its position 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 worth $91,000 after acquiring an additional 1,280 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Strattec Security in the second quarter worth about $92,000. New York State Common Retirement Fund acquired a new stake in Strattec Security in the second quarter worth about $106,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Strattec Security in the second quarter worth about $132,000. Finally, BNP Paribas Financial Markets lifted its holdings in Strattec Security by 420.9% in the second quarter. BNP Paribas Financial Markets now owns 2,464 shares of the auto parts company's stock worth $153,000 after purchasing an additional 1,991 shares during the period. Institutional investors own 68.91% of the company's stock.

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.