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STRT - Strattec Security Corporation Is Deeply Undervalued
STRATTEC SECURITY CORPORATION
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Strattec Security Corporation (STRT) is a supplier of locks, keys, power sliding doors systems, power lift gate systems, door handles and related products to automotive OEM’s. It has a significant share of the U.S market. Strattec main customers are American auto companies such as Fiat/Chrysler, GM and Ford with each OEM accounting for 24%, 23% and 13% of revenues respectively. They also sell parts to other global tier 1 auto OEM’s