Short Interest in Strattec Security Co. (NASDAQ:STRT) Grows By 31.8%

Strattec Security Co. (NASDAQ:STRT) was the target of a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 8,700 shares, a growth of 31.8% from the December 15th total of 6,600 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average daily volume of 18,200 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Investors Weigh In On Strattec Security

A number of hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC grew its stake in shares of Strattec Security by 11.1% in the 2nd quarter. Renaissance Technologies LLC now owns 85,106 shares of the auto parts company’s stock worth $2,128,000 after buying an additional 8,500 shares in the last quarter. De Lisle Partners LLP grew its position in Strattec Security by 11.2% in the third quarter. De Lisle Partners LLP now owns 43,094 shares of the auto parts company’s stock worth $1,830,000 after acquiring an additional 4,355 shares in the last quarter. Geode Capital Management LLC grew its position in Strattec Security by 5.9% in the third quarter. Geode Capital Management LLC now owns 41,618 shares of the auto parts company’s stock worth $1,776,000 after acquiring an additional 2,314 shares in the last quarter. Factorial Partners LLC bought a new stake in Strattec Security during the third quarter worth approximately $1,346,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Strattec Security during the third quarter valued at approximately $1,071,000. Hedge funds and other institutional investors own 68.91% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Strattec Security from a “hold” rating to a “buy” rating in a report on Thursday, November 14th.

Strattec Security Price Performance

STRT stock traded down $0.07 during mid-day trading on Thursday, hitting $39.69. The company had a trading volume of 12,273 shares, compared to its average volume of 15,967. The company has a market capitalization of $162.77 million, a price-to-earnings ratio of 10.07, a P/E/G ratio of 1.38 and a beta of 1.16. The company has a 50-day moving average price of $41.04 and a 200 day moving average price of $36.21. The company has a quick ratio of 1.48, a current ratio of 2.18 and a debt-to-equity ratio of 0.06. Strattec Security has a 12-month low of $21.05 and a 12-month high of $44.26.

Strattec Security (NASDAQ:STRT) last announced its quarterly earnings results on Monday, November 4th. The auto parts company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.36. The company had revenue of $139.05 million during the quarter, compared to analyst estimates of $139.32 million. Strattec Security had a return on equity of 7.12% and a net margin of 2.93%. During the same period in the prior year, the company earned $1.05 earnings per share. On average, research analysts anticipate that Strattec Security will post 2.76 earnings per share for the current year.

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.