L.S. Starrett (NYSE:SCX) Coverage Initiated at StockNews.com

Investment analysts at StockNews.com assumed coverage on shares of L.S. Starrett (NYSE:SCX) in a research report issued on Sunday. The brokerage set a “buy” rating on the stock.

L.S. Starrett Stock Performance

L.S. Starrett stock opened at $16.03 on Friday. The company has a current ratio of 3.11, a quick ratio of 1.42 and a debt-to-equity ratio of 0.02. L.S. Starrett has a 1-year low of $8.55 and a 1-year high of $16.03. The firm has a market capitalization of $120.39 million, a PE ratio of 6.24 and a beta of 0.46. The firm’s 50 day simple moving average is $13.76 and its 200 day simple moving average is $12.03.

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

Hedge Funds Weigh In On L.S. Starrett

Hedge funds and other institutional investors have recently modified their holdings of the company. UBS Group AG lifted its stake in shares of L.S. Starrett by 77.9% in the 4th quarter. UBS Group AG now owns 4,314 shares of the company’s stock valued at $32,000 after acquiring an additional 1,889 shares during the last quarter. Atria Wealth Solutions Inc. purchased a new position in L.S. Starrett in the 1st quarter worth approximately $85,000. Victory Capital Management Inc. purchased a new stake in shares of L.S. Starrett during the fourth quarter valued at approximately $114,000. Acadian Asset Management LLC grew its holdings in shares of L.S. Starrett by 114.2% in the first quarter. Acadian Asset Management LLC now owns 19,303 shares of the company’s stock worth $216,000 after purchasing an additional 10,291 shares during the last quarter. Finally, Citadel Advisors LLC increased its stake in shares of L.S. Starrett by 15.5% in the second quarter. Citadel Advisors LLC now owns 20,820 shares of the company’s stock worth $218,000 after buying an additional 2,791 shares during the period. 43.40% of the stock is currently owned by hedge funds and other institutional investors.

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.