L.S. Starrett (NYSE:SCX) Receives New Coverage from Analysts at StockNews.com

StockNews.com assumed coverage on shares of L.S. Starrett (NYSE:SCX – Get Rating) in a research note released on Wednesday morning. The brokerage issued a strong-buy rating on the stock.

L.S. Starrett Stock Performance

SCX stock opened at $10.66 on Wednesday. The company has a current ratio of 3.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.19. The firm has a market cap of $79.20 million, a P/E ratio of 5.55 and a beta of 0.56. L.S. Starrett has a 12-month low of $6.26 and a 12-month high of $12.60. The stock’s 50 day simple moving average is $9.68 and its 200 day simple moving average is $8.73.

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

Insiders Place Their Bets

In other L.S. Starrett news, CFO John C. Tripp sold 3,300 shares of the stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $10.04, for a total value of $33,132.00. Following the sale, the chief financial officer now directly owns 62,827 shares of the company’s stock, valued at $630,783.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO John C. Tripp sold 3,300 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 62,827 shares of the company’s stock, valued at $630,783.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John C. Tripp sold 9,981 shares of the firm’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $11.97, for a total value of $119,472.57. Following the transaction, the chief financial officer now directly owns 52,846 shares in the company, valued at $632,566.62. The disclosure for this sale can be found here. Insiders have sold 16,281 shares of company stock valued at $189,295 over the last three months. Company insiders own 6.98% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SCX. Teton Advisors Inc. increased its holdings in shares of L.S. Starrett by 3.2% during the first quarter. Teton Advisors Inc. now owns 67,100 shares of the company’s stock valued at $516,000 after purchasing an additional 2,100 shares during the period. Atria Wealth Solutions Inc. acquired a new position in shares of L.S. Starrett during the first quarter valued at $85,000. Dimensional Fund Advisors LP increased its holdings in shares of L.S. Starrett by 0.7% during the third quarter. Dimensional Fund Advisors LP now owns 349,255 shares of the company’s stock valued at $3,084,000 after purchasing an additional 2,406 shares during the period. UBS Group AG increased its holdings in shares of L.S. Starrett by 77.9% during the fourth quarter. UBS Group AG now owns 4,314 shares of the company’s stock valued at $32,000 after purchasing an additional 1,889 shares during the period. Finally, Steel Partners Holdings L.P. boosted its stake in L.S. Starrett by 121.1% during the fourth quarter. Steel Partners Holdings L.P. now owns 276,844 shares of the company’s stock valued at $2,038,000 after buying an additional 151,612 shares in the last quarter. 38.82% of the stock is owned by institutional investors and hedge funds.

L.S. Starrett Company Profile

(Get Rating)

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.