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

Equities researchers at StockNews.com started coverage on shares of L.S. Starrett (NYSE:SCX) in a report issued on Wednesday. The brokerage set a “buy” rating on the stock.

L.S. Starrett Price Performance

Shares of NYSE:SCX opened at $16.18 on Wednesday. The firm has a 50 day moving average of $16.16 and a 200-day moving average of $14.37. L.S. Starrett has a 12 month low of $8.55 and a 12 month high of $16.19. The company has a current ratio of 3.13, a quick ratio of 1.49 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $121.56 million, a PE ratio of 9.75 and a beta of 0.48.

L.S. Starrett (NYSE:SCX) last announced its quarterly earnings data on Monday, May 13th. The company reported $0.19 earnings per share (EPS) for the quarter. L.S. Starrett had a net margin of 5.02% and a return on equity of 2.44%. The business had revenue of $60.77 million for the quarter.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SCX. Beryl Capital Management LLC acquired a new stake in shares of L.S. Starrett in the 1st quarter valued at approximately $2,980,000. Natixis acquired a new stake in L.S. Starrett in the first quarter valued at approximately $954,000. Vanguard Group Inc. grew its stake 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 buying an additional 13,933 shares during the last quarter. Privium Fund Management UK Ltd acquired a new position in shares of L.S. Starrett during the first quarter worth $184,000. Finally, Empowered Funds LLC bought a new position in shares of L.S. Starrett in the 1st quarter valued at $159,000. Institutional investors and hedge funds own 43.40% of the company’s stock.

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.