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

Research analysts at StockNews.com initiated coverage on shares of L.S. Starrett (NYSE:SCX – Get Rating) in a report released on Wednesday. The brokerage set a “strong-buy” rating on the stock.

L.S. Starrett Stock Up 4.2 %

Shares of NYSE:SCX opened at $10.69 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.61 and a current ratio of 3.59. The company has a market cap of $79.43 million, a PE ratio of 5.57 and a beta of 0.56. L.S. Starrett has a 52 week low of $6.26 and a 52 week high of $12.60. The firm has a 50 day simple moving average of $9.63 and a 200 day simple moving average of $8.73.

L.S. Starrett (NYSE:SCX – Get Rating) last issued its quarterly earnings results on Monday, February 6th. The company reported $0.42 EPS for the quarter. The business had revenue of $66.78 million during the quarter. L.S. Starrett had a net margin of 5.54% and a return on equity of 13.94%.

Insider Activity at L.S. Starrett

In related news, insider David T. Allen sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 8th. The shares were sold at an average price of $12.23, for a total value of $36,690.00. Following the completion of the sale, the insider now owns 63,871 shares in the company, valued at approximately $781,142.33. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other L.S. Starrett news, insider David T. Allen sold 3,000 shares of the stock in a transaction that occurred on Wednesday, March 8th. The shares were sold at an average price of $12.23, for a total value of $36,690.00. Following the completion of the sale, the insider now owns 63,871 shares in the company, valued at approximately $781,142.33. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO John C. Tripp sold 3,300 shares of the stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $10.04, for a total transaction of $33,132.00. Following the completion of the sale, the chief financial officer now owns 62,827 shares of the company’s stock, valued at approximately $630,783.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,281 shares of company stock worth $189,295. 6.98% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. UBS Group AG increased its stake in shares of L.S. Starrett by 77.9% during the 4th quarter. UBS Group AG now owns 4,314 shares of the company’s stock worth $32,000 after purchasing an additional 1,889 shares during the last quarter. Atria Wealth Solutions Inc. acquired a new position in shares of L.S. Starrett during the 1st quarter worth $85,000. Teton Advisors Inc. increased its stake in shares of L.S. Starrett by 3.2% during the 1st quarter. Teton Advisors Inc. now owns 67,100 shares of the company’s stock worth $516,000 after purchasing an additional 2,100 shares during the last quarter. Steel Partners Holdings L.P. increased its stake in shares of L.S. Starrett by 121.1% during the 4th quarter. Steel Partners Holdings L.P. now owns 276,844 shares of the company’s stock worth $2,038,000 after purchasing an additional 151,612 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of L.S. Starrett by 0.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 349,255 shares of the company’s stock worth $3,084,000 after purchasing an additional 2,406 shares during the last quarter. Institutional investors and hedge funds own 38.82% of the company’s stock.

About L.S. Starrett

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The L.S. Starrett Co engages in the business of manufacturing products for industrial, professional, and consumer markets. It operates through North American and International geographical segments. The North America segment includes manufacturing and sales in the U.S., Canada, and Mexico. The International segment consists of all operations outside North America, primarily in Brazil, United Kingdom, and China.