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

Equities researchers at StockNews.com initiated coverage on shares of L.S. Starrett (NYSE:SCX) in a note issued to investors on Wednesday. The firm set a “buy” rating on the stock.

L.S. Starrett Stock Performance

Shares of NYSE SCX opened at $16.08 on Wednesday. The stock has a market cap of $120.76 million, a PE ratio of 6.26 and a beta of 0.48. 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 1 year low of $8.55 and a 1 year high of $16.17. The firm has a fifty day moving average price of $14.99 and a 200-day moving average price of $12.63.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. 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 last quarter. Empowered Funds LLC purchased a new position in shares of L.S. Starrett in the first quarter worth $159,000. Privium Fund Management UK Ltd purchased a new stake in shares of L.S. Starrett during the first quarter valued at $184,000. Finally, Victory Capital Management Inc. acquired a new position in shares of L.S. Starrett in the fourth quarter valued at about $114,000. Institutional investors 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.