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

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

L.S. Starrett Stock Performance

Shares of SCX stock opened at $16.10 on Wednesday. The stock has a market capitalization of $120.83 million, a PE ratio of 6.26 and a beta of 0.48. The business’s 50 day simple moving average is $15.11 and its 200 day simple moving average is $12.65. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.11 and a quick ratio of 1.42. L.S. Starrett has a one year low of $8.55 and a one year high of $16.17.

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

Institutional Investors Weigh In On L.S. Starrett

Several institutional investors and hedge funds have recently made changes to their positions in SCX. O Shaughnessy Asset Management LLC grew its holdings in L.S. Starrett by 40.0% in the third quarter. O Shaughnessy Asset Management LLC now owns 25,154 shares of the company’s stock worth $270,000 after purchasing an additional 7,185 shares during the period. Victory Capital Management Inc. bought a new position in shares of L.S. Starrett during the 4th quarter worth about $114,000. Empowered Funds LLC acquired a new stake in shares of L.S. Starrett in the 1st quarter valued at about $159,000. Finally, Privium Fund Management UK Ltd acquired a new stake in shares of L.S. Starrett in the 1st quarter valued at about $184,000. Institutional investors own 43.40% of the company’s stock.

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.