Sei Investments Co. Increases Stock Position in Strattec Security Corporation $STRT

Sei Investments Co. lifted its position in shares of Strattec Security Corporation (NASDAQ:STRT) by 100.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 17,682 shares of the auto parts company’s stock after purchasing an additional 8,841 shares during the period. Sei Investments Co.’s holdings in Strattec Security were worth $1,385,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. New York State Teachers Retirement System purchased a new position in shares of Strattec Security in the 4th quarter worth $27,000. State of Alaska Department of Revenue purchased a new stake in Strattec Security during the fourth quarter valued at about $58,000. Raymond James Financial Inc. acquired a new stake in Strattec Security during the second quarter worth about $92,000. New York State Common Retirement Fund acquired a new stake in Strattec Security during the second quarter worth about $106,000. Finally, SG Americas Securities LLC acquired a new stake in Strattec Security during the fourth quarter worth about $134,000. 68.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Freedom Capital raised Strattec Security from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Strattec Security in a report on Wednesday, June 24th. Wall Street Zen downgraded shares of Strattec Security from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Finally, Zacks Research upgraded shares of Strattec Security from a “strong sell” rating to a “hold” rating in a report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Strattec Security presently has a consensus rating of “Buy”.

Strattec Security Price Performance

NASDAQ:STRT opened at $83.47 on Wednesday. The business’s 50-day moving average is $81.82 and its two-hundred day moving average is $80.06. Strattec Security Corporation has a 12 month low of $57.01 and a 12 month high of $92.50. The firm has a market capitalization of $348.90 million, a PE ratio of 13.77, a price-to-earnings-growth ratio of 1.72 and a beta of 1.18.

Strattec Security announced that its Board of Directors has approved a stock repurchase plan on Thursday, May 28th that authorizes the company to buyback $40.00 million in outstanding shares. This buyback authorization authorizes the auto parts company to purchase up to 12.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

About Strattec Security

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.