Allspring Global Investments Holdings LLC Makes New Investment in Strattec Security Co. (NASDAQ:STRT)

Allspring Global Investments Holdings LLC acquired a new position in shares of Strattec Security Co. (NASDAQ:STRT - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 25,100 shares of the auto parts company's stock, valued at approximately $1,071,000. Allspring Global Investments Holdings LLC owned approximately 0.61% of Strattec Security at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of STRT. Gabelli Funds LLC grew its stake in shares of Strattec Security by 9.2% in the first quarter. Gabelli Funds LLC now owns 36,800 shares of the auto parts company's stock worth $873,000 after acquiring an additional 3,100 shares during the last quarter. Marquette Asset Management LLC boosted its stake in Strattec Security by 96.4% in the 3rd quarter. Marquette Asset Management LLC now owns 11,332 shares of the auto parts company's stock worth $483,000 after purchasing an additional 5,563 shares in the last quarter. Renaissance Technologies LLC grew its position in Strattec Security by 11.1% during the 2nd quarter. Renaissance Technologies LLC now owns 85,106 shares of the auto parts company's stock valued at $2,128,000 after purchasing an additional 8,500 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in Strattec Security during the 1st quarter valued at about $325,000. Finally, Acuitas Investments LLC purchased a new position in Strattec Security in the second quarter worth about $925,000. Hedge funds and other institutional investors own 68.91% of the company's stock.

Insider Activity

In other news, VP Richard P. Messina sold 1,270 shares of the company's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $38.78, for a total transaction of $49,250.60. Following the completion of the sale, the vice president now owns 11,930 shares of the company's stock, valued at $462,645.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 2,070 shares of company stock valued at $74,033 in the last ninety days. 6.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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 Stock Down 2.7 %

STRT traded down $1.03 during trading on Friday, hitting $36.52. 8,433 shares of the company's stock traded hands, compared to its average volume of 14,021. The stock has a market capitalization of $149.73 million, a price-to-earnings ratio of 8.97, a PEG ratio of 1.98 and a beta of 1.13. The company's 50 day simple moving average is $37.78 and its two-hundred day simple moving average is $30.22. Strattec Security Co. has a 12-month low of $20.87 and a 12-month high of $43.15. The company has a current ratio of 2.15, a quick ratio of 1.46 and a debt-to-equity ratio of 0.06.

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

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.