L.S. Starrett (NYSE:SCX) Now Covered by StockNews.com

StockNews.com initiated 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 Price Performance

Shares of SCX stock opened at $16.00 on Friday. The company has a market capitalization of $120.16 million, a P/E ratio of 6.23 and a beta of 0.47. The company’s 50-day simple moving average is $13.87 and its two-hundred day simple moving average is $12.09. L.S. Starrett has a one year low of $8.55 and a one year high of $16.04. 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 (NYSE:SCX) last announced its quarterly earnings results on Friday, February 16th. The company reported ($0.05) EPS for the quarter. L.S. Starrett had a net margin of 7.72% and a return on equity of 3.45%. The firm had revenue of $62.08 million for the quarter.

Hedge Funds Weigh In On L.S. Starrett

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

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.