Strattec Security (NASDAQ:STRT) Stock Price Passes Above 200 Day Moving Average – Here’s What Happened

Shares of Strattec Security Corporation (NASDAQ:STRT) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $80.13 and traded as high as $82.60. Strattec Security shares last traded at $80.56, with a volume of 57,279 shares.

Analyst Upgrades and Downgrades

STRT has been the subject of a number of recent research reports. Weiss Ratings restated a “buy (b)” rating on shares of Strattec Security in a research note on Wednesday, June 24th. Zacks Research upgraded shares of Strattec Security from a “strong sell” rating to a “hold” rating in a research note on Friday, July 10th. Freedom Capital raised shares of Strattec Security from a “hold” rating to a “strong-buy” rating in a report on Monday, May 11th. Finally, Wall Street Zen lowered shares of Strattec Security from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Strattec Security presently has an average rating of “Buy”.

Strattec Security Stock Up 3.0%

The firm’s fifty day moving average price is $82.32 and its 200 day moving average price is $80.15. The stock has a market cap of $341.88 million, a PE ratio of 13.50, a P/E/G ratio of 1.66 and a beta of 1.18.

Strattec Security declared that its Board of Directors has approved a share repurchase program on Thursday, May 28th that allows the company to repurchase $40.00 million in shares. This repurchase authorization allows the auto parts company to repurchase up to 12.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Strattec Security

Several large investors have recently modified their holdings of STRT. Gabelli Funds LLC raised its holdings in shares of Strattec Security by 41.7% in the first quarter. Gabelli Funds LLC now owns 247,800 shares of the auto parts company’s stock worth $19,413,000 after buying an additional 72,900 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Strattec Security by 3.6% during the first quarter. Dimensional Fund Advisors LP now owns 248,136 shares of the auto parts company’s stock valued at $19,438,000 after buying an additional 8,542 shares during the last quarter. Sei Investments Co. increased its position in shares of Strattec Security by 100.0% in the 1st quarter. Sei Investments Co. now owns 17,682 shares of the auto parts company’s stock valued at $1,385,000 after acquiring an additional 8,841 shares during the period. Lazard Asset Management LLC increased its position in shares of Strattec Security by 16.4% in the 1st quarter. Lazard Asset Management LLC now owns 40,995 shares of the auto parts company’s stock valued at $3,212,000 after acquiring an additional 5,769 shares during the period. Finally, Arete Wealth Advisors LLC raised its stake in Strattec Security by 8.4% in the 1st quarter. Arete Wealth Advisors LLC now owns 10,559 shares of the auto parts company’s stock worth $831,000 after acquiring an additional 815 shares during the last quarter. Institutional investors own 68.91% of the company’s stock.

Strattec Security Company Profile

Strattec Security Corporation is a Wisconsin‐based designer and manufacturer of mechanical and electronic locking systems for the global automotive market. Established more than five decades ago, the company supplies original equipment manufacturers (OEMs) and the aftermarket with a broad portfolio of lock and key solutions tailored to passenger cars, light trucks and commercial vehicles.

The company’s product range includes mechanical locking systems such as door lock cylinders, ignition lock modules, key blanks and door handles, as well as electromechanical and keyless‐entry systems.