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

Equities research analysts at StockNews.com assumed coverage on shares of L.S. Starrett (NYSE:SCX) in a report released on Tuesday. The firm set a “buy” rating on the stock.

L.S. Starrett Price Performance

SCX stock opened at $16.18 on Tuesday. The company has a market capitalization of $121.56 million, a P/E ratio of 9.75 and a beta of 0.48. L.S. Starrett has a twelve month low of $8.55 and a twelve month high of $16.19. The business has a 50 day simple moving average of $16.13 and a 200-day simple moving average of $14.11. 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 (NYSE:SCX) last posted its quarterly earnings data on Monday, May 13th. The company reported $0.19 earnings per share for the quarter. The business had revenue of $60.77 million during the quarter. L.S. Starrett had a return on equity of 2.44% and a net margin of 5.02%.

Institutional Investors Weigh In On L.S. Starrett

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of L.S. Starrett by 5.5% during the first quarter. Vanguard Group Inc. now owns 266,093 shares of the company’s stock worth $4,228,000 after purchasing an additional 13,933 shares during the period. Beryl Capital Management LLC purchased a new position in shares of L.S. Starrett in the first quarter valued at $2,980,000. Natixis purchased a new position in shares of L.S. Starrett in the first quarter valued at $954,000. O Shaughnessy Asset Management LLC increased its position in shares of 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 valued at $270,000 after buying an additional 7,185 shares in the last quarter. Finally, Privium Fund Management UK Ltd purchased a new position in shares of L.S. Starrett in the first quarter valued at $184,000. 43.40% of the stock is 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.