Short Interest in Strattec Security Co. (NASDAQ:STRT) Declines By 28.4%

Strattec Security Co. (NASDAQ:STRT) was the recipient of a significant decline in short interest in the month of March. As of March 15th, there was short interest totalling 10,600 shares, a decline of 28.4% from the February 28th total of 14,800 shares. Approximately 0.3% of the shares of the company are sold short. Based on an average daily volume of 25,500 shares, the days-to-cover ratio is presently 0.4 days.

Insiders Place Their Bets

In other news, COO Rolando Guillot sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $50.10, for a total transaction of $175,350.00. Following the transaction, the chief operating officer now directly owns 36,443 shares of the company’s stock, valued at approximately $1,825,794.30. This trade represents a 8.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. increased its holdings in Strattec Security by 57.1% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,715 shares of the auto parts company’s stock worth $71,000 after buying an additional 623 shares during the last quarter. Millennium Management LLC increased its position in shares of Strattec Security by 143.8% in the fourth quarter. Millennium Management LLC now owns 29,597 shares of the auto parts company’s stock worth $1,219,000 after purchasing an additional 17,459 shares during the last quarter. Bridgeway Capital Management LLC increased its holdings in shares of Strattec Security by 42.1% in the 4th quarter. Bridgeway Capital Management LLC now owns 39,978 shares of the auto parts company’s stock worth $1,647,000 after buying an additional 11,850 shares during the last quarter. Bank of America Corp DE increased its stake in Strattec Security by 137.9% in the fourth quarter. Bank of America Corp DE now owns 2,208 shares of the auto parts company’s stock valued at $91,000 after acquiring an additional 1,280 shares during the last quarter. Finally, 683 Capital Management LLC purchased a new position in shares of Strattec Security during the 4th quarter valued at about $351,000. Institutional investors own 68.91% of the company’s stock.

Strattec Security Trading Down 0.7 %

NASDAQ:STRT opened at $39.52 on Tuesday. The firm has a fifty day simple moving average of $43.77 and a two-hundred day simple moving average of $41.23. Strattec Security has a 12 month low of $21.05 and a 12 month high of $53.01. The company has a current ratio of 2.60, a quick ratio of 1.77 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $164.88 million, a price-to-earnings ratio of 9.87, a PEG ratio of 1.37 and a beta of 1.12.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Strattec Security from a “buy” rating to a “strong-buy” rating in a report on Friday, February 7th.

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.