Strattec Security Co. (NASDAQ:STRT) Sees Large Decline in Short Interest

Strattec Security Co. (NASDAQ:STRT) was the target of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 6,600 shares, a decline of 24.1% from the October 15th total of 8,700 shares. Based on an average daily volume of 20,500 shares, the short-interest ratio is currently 0.3 days. Approximately 0.2% of the company’s stock are short sold.

Strattec Security Stock Down 0.8 %

Strattec Security stock traded down $0.33 during midday trading on Friday, hitting $40.64. 12,299 shares of the stock were exchanged, compared to its average volume of 19,515. Strattec Security has a 52-week low of $20.87 and a 52-week high of $43.15. The company has a quick ratio of 1.48, a current ratio of 2.18 and a debt-to-equity ratio of 0.06. The business’s 50-day moving average price is $38.52 and its 200-day moving average price is $31.49. The stock has a market capitalization of $166.62 million, a price-to-earnings ratio of 10.31, a price-to-earnings-growth ratio of 1.47 and a beta of 1.14.

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

Wall Street Analyst Weigh In

Separately, StockNews.com raised Strattec Security from a “hold” rating to a “buy” rating in a research note on Thursday.

Hedge Funds Weigh In On Strattec Security

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. bought a new stake in Strattec Security in the third quarter worth about $47,000. Barclays PLC increased its stake in shares of Strattec Security by 126.0% during the 3rd quarter. Barclays PLC now owns 3,950 shares of the auto parts company’s stock worth $169,000 after purchasing an additional 2,202 shares during the last quarter. Essex Investment Management Co. LLC bought a new stake in shares of Strattec Security in the 3rd quarter worth approximately $266,000. Quadrature Capital Ltd purchased a new position in Strattec Security in the third quarter valued at approximately $308,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Strattec Security during the third quarter valued at $374,000. 68.91% of the stock is 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.