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

StockNews.com initiated coverage on shares of L.S. Starrett (NYSE:SCX) in a research report released on Friday morning. The brokerage issued a buy rating on the stock.

L.S. Starrett Price Performance

SCX remained flat at $16.18 on Friday. The firm has a market capitalization of $121.51 million, a P/E ratio of 9.75 and a beta of 0.48. The firm has a 50 day moving average of $16.02 and a 200-day moving average of $13.11. The company has a current ratio of 3.13, a quick ratio of 1.49 and a debt-to-equity ratio of 0.04. L.S. Starrett has a 52-week low of $8.55 and a 52-week high of $16.19.

Institutional Investors Weigh In On L.S. Starrett

Institutional investors have recently modified their holdings of the stock. O Shaughnessy Asset Management LLC lifted its position in L.S. Starrett by 40.0% during the third quarter. O Shaughnessy Asset Management LLC now owns 25,154 shares of the company’s stock valued at $270,000 after buying an additional 7,185 shares during the period. Victory Capital Management Inc. purchased a new stake in L.S. Starrett in the fourth quarter valued at about $114,000. Privium Fund Management UK Ltd purchased a new stake in shares of L.S. Starrett in the first quarter valued at approximately $184,000. Empowered Funds LLC acquired a new position in shares of L.S. Starrett in the 1st quarter valued at $159,000. Finally, Vanguard Group Inc. raised its position in L.S. Starrett by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 266,093 shares of the company’s stock valued at $4,228,000 after purchasing an additional 13,933 shares in the last quarter. Institutional investors and hedge funds own 43.40% of the company’s stock.

About L.S. Starrett

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.