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

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

L.S. Starrett Price Performance

Shares of NYSE:SCX opened at $16.11 on Tuesday. The company’s fifty day moving average price is $14.63 and its 200 day moving average price is $12.50. The firm has a market capitalization of $120.91 million, a P/E ratio of 6.27 and a beta of 0.48. L.S. Starrett has a 12 month low of $8.55 and a 12 month high of $16.17. 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 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 firm had revenue of $62.08 million during the quarter.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. O Shaughnessy Asset Management LLC boosted its stake in shares of 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 worth $270,000 after buying an additional 7,185 shares during the period. Privium Fund Management UK Ltd acquired a new stake in L.S. Starrett during the 1st quarter worth approximately $184,000. Finally, Victory Capital Management Inc. purchased a new position in shares of L.S. Starrett in the 4th quarter valued at approximately $114,000. 43.40% of the stock is owned by hedge funds and other 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.