Bank of New York Mellon Corp Decreases Position in Strattec Security Corporation (STRT)
Bank of New York Mellon Corp decreased its position in shares of Strattec Security Corporation (NASDAQ:STRT) by 38.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,929 shares of the auto parts company’s stock after selling 9,459 shares during the period. Bank of New York Mellon Corp owned about 0.42% of Strattec Security Corporation worth $528,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. FMR LLC lifted its stake in Strattec Security Corporation by 27.3% during the 1st quarter. FMR LLC now owns 412,800 shares of the auto parts company’s stock worth $11,476,000 after acquiring an additional 88,400 shares in the last quarter. Algert Global LLC acquired a new position in Strattec Security Corporation during the 2nd quarter worth about $552,000. Russell Investments Group Ltd. acquired a new position in Strattec Security Corporation during the 2nd quarter worth about $480,000. Municipal Employees Retirement System of Michigan acquired a new position in Strattec Security Corporation during the 2nd quarter worth about $365,000. Finally, LMR Partners LLP acquired a new position in Strattec Security Corporation during the 2nd quarter worth about $348,000. 82.98% of the stock is currently owned by hedge funds and other institutional investors.
Separately, ValuEngine raised Strattec Security Corporation from a “buy” rating to a “strong-buy” rating in a research report on Monday, October 2nd.
Shares of Strattec Security Corporation (NASDAQ:STRT) opened at 44.70 on Tuesday. Strattec Security Corporation has a 52-week low of $23.00 and a 52-week high of $49.20. The firm has a market cap of $160.74 million, a price-to-earnings ratio of 22.81 and a beta of 1.62. The firm has a 50-day moving average price of $41.74 and a 200-day moving average price of $35.80.
Strattec Security Corporation (NASDAQ:STRT) last issued its earnings results on Thursday, October 26th. The auto parts company reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.12. Strattec Security Corporation had a return on equity of 4.94% and a net margin of 1.93%. The company had revenue of $102.46 million during the quarter. Analysts predict that Strattec Security Corporation will post $2.08 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Thursday, December 14th. Strattec Security Corporation’s payout ratio is 25.34%.
In other news, insider Patrick J. Hansen sold 1,000 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $35.40, for a total value of $35,400.00. Following the completion of the sale, the insider now owns 10,950 shares of the company’s stock, valued at $387,630. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.10% of the stock is owned by corporate insiders.
Strattec Security Corporation Profile
Strattec Security Corporation designs, develops, manufactures and markets automotive access control products. The Company offers access control products, including mechanical locks and keys, electronically enhanced locks and keys, steering column and instrument panel ignition lock housings, latches, power sliding side door systems, power lift gate systems, power deck lid systems, door handles and related products for North American automotive customers.
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