StockNews.com Begins Coverage on L.S. Starrett (NYSE:SCX)

StockNews.com began coverage on shares of L.S. Starrett (NYSE:SCX) in a report issued on Sunday. The brokerage issued a buy rating on the stock.

L.S. Starrett Trading Down 0.1 %

Shares of NYSE SCX opened at $16.01 on Friday. The business has a 50 day simple moving average of $13.81 and a 200 day simple moving average of $12.07. L.S. Starrett has a 52 week low of $8.55 and a 52 week high of $16.03. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.42 and a current ratio of 3.11. The stock has a market cap of $120.24 million, a price-to-earnings ratio of 6.23 and a beta of 0.46.

L.S. Starrett (NYSE:SCX) last posted its earnings results on Friday, February 16th. The company reported ($0.05) earnings per share for the quarter. L.S. Starrett had a return on equity of 3.45% and a net margin of 7.72%. The company had revenue of $62.08 million during the quarter.

Institutional Investors Weigh In On L.S. Starrett

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. O Shaughnessy Asset Management LLC acquired a new position in shares of L.S. Starrett during the first quarter worth approximately $239,000. Dimensional Fund Advisors LP lifted its holdings in shares of L.S. Starrett by 3.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 372,541 shares of the company’s stock worth $4,508,000 after buying an additional 13,247 shares during the last quarter. Atria Wealth Solutions Inc. acquired a new position in shares of L.S. Starrett during the first quarter worth approximately $85,000. Acadian Asset Management LLC lifted its holdings in shares of L.S. Starrett by 114.2% during the first quarter. Acadian Asset Management LLC now owns 19,303 shares of the company’s stock worth $216,000 after buying an additional 10,291 shares during the last quarter. Finally, Victory Capital Management Inc. acquired a new position in shares of L.S. Starrett during the fourth quarter worth approximately $114,000. 43.40% of the stock is currently owned by institutional investors and hedge funds.

L.S. Starrett Company Profile

The L.S. Starrett Company, together with its subsidiaries, manufactures and sells industrial, professional, and consumer measuring and cutting tools, and related products in North America, Brazil, and China. The company's products include precision tools, electronic gauges, gage blocks, optical vision and laser measuring equipment, custom engineered granite solutions, tape measures, levels, chalk products, squares, band saw blades, hole saws, hacksaw blades, jig saw blades, and reciprocating saw blades, as well as M1 lubricant and precision ground flat stock products.