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

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

L.S. Starrett Price Performance

SCX stock opened at $16.02 on Monday. The firm has a 50 day simple moving average of $13.97 and a two-hundred day simple moving average of $12.18. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.11 and a quick ratio of 1.42. The stock has a market cap of $120.31 million, a PE ratio of 6.23 and a beta of 0.47. L.S. Starrett has a one year low of $8.55 and a one year high of $16.04.

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

Institutional Investors Weigh In On L.S. Starrett

Several hedge funds have recently made changes to their positions in the company. UBS Group AG increased its stake in shares of L.S. Starrett by 77.9% in the fourth quarter. UBS Group AG now owns 4,314 shares of the company’s stock worth $32,000 after purchasing an additional 1,889 shares in the last quarter. Atria Wealth Solutions Inc. acquired a new stake in shares of L.S. Starrett during the 1st quarter valued at about $85,000. Victory Capital Management Inc. acquired a new stake in L.S. Starrett in the fourth quarter valued at approximately $114,000. Acadian Asset Management LLC increased its holdings in L.S. Starrett by 114.2% in the 1st quarter. Acadian Asset Management LLC now owns 19,303 shares of the company’s stock worth $216,000 after acquiring an additional 10,291 shares in the last quarter. Finally, Citadel Advisors LLC raised its position in L.S. Starrett by 15.5% during the second quarter. Citadel Advisors LLC now owns 20,820 shares of the company’s stock worth $218,000 after acquiring an additional 2,791 shares during the period. 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.