Allspring Global Investments Holdings LLC Purchases Shares of 25,100 Strattec Security Co. (NASDAQ:STRT)

Allspring Global Investments Holdings LLC acquired a new position in shares of Strattec Security Co. (NASDAQ:STRT) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 25,100 shares of the auto parts company’s stock, valued at approximately $1,071,000. Allspring Global Investments Holdings LLC owned about 0.61% of Strattec Security at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Essex Investment Management Co. LLC acquired a new stake in Strattec Security in the 3rd quarter valued at about $266,000. Marquette Asset Management LLC lifted its position in shares of Strattec Security by 96.4% in the third quarter. Marquette Asset Management LLC now owns 11,332 shares of the auto parts company’s stock valued at $483,000 after buying an additional 5,563 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Strattec Security by 11.1% during the 2nd quarter. Renaissance Technologies LLC now owns 85,106 shares of the auto parts company’s stock worth $2,128,000 after acquiring an additional 8,500 shares during the period. Perritt Capital Management Inc increased its holdings in shares of Strattec Security by 47.0% during the 2nd quarter. Perritt Capital Management Inc now owns 10,102 shares of the auto parts company’s stock worth $253,000 after acquiring an additional 3,229 shares during the last quarter. Finally, Acuitas Investments LLC bought a new stake in Strattec Security in the 2nd quarter valued at $925,000. Institutional investors own 68.91% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Strattec Security from a “strong-buy” rating to a “buy” rating in a report on Friday, August 2nd.

Strattec Security Price Performance

Strattec Security stock opened at $37.55 on Friday. The stock has a fifty day moving average of $37.82 and a 200-day moving average of $30.13. The stock has a market capitalization of $154.07 million, a P/E ratio of 9.23, a price-to-earnings-growth ratio of 1.98 and a beta of 1.13. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.46 and a current ratio of 2.15. Strattec Security Co. has a 52 week low of $20.87 and a 52 week high of $43.15.

Strattec Security (NASDAQ:STRT) last released its quarterly earnings results on Thursday, August 8th. The auto parts company reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $2.01. The firm had revenue of $143.06 million during the quarter, compared to the consensus estimate of $141.51 million. Strattec Security had a net margin of 3.03% and a return on equity of 7.43%. On average, sell-side analysts expect that Strattec Security Co. will post 1.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Strattec Security news, VP Richard P. Messina sold 1,270 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $38.78, for a total value of $49,250.60. Following the completion of the sale, the vice president now owns 11,930 shares in the company, valued at approximately $462,645.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 2,070 shares of company stock worth $74,033 in the last quarter. Insiders own 6.40% of the company’s stock.

Strattec Security 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.