L.S. Starrett (NYSE:SCX) Cut to Buy at StockNews.com

StockNews.com cut shares of L.S. Starrett (NYSE:SCXFree Report) from a strong-buy rating to a buy rating in a research note published on Monday morning.

L.S. Starrett Stock Down 1.6 %

L.S. Starrett stock opened at $13.32 on Monday. The company has a quick ratio of 1.37, a current ratio of 2.94 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $99.63 million, a PE ratio of 4.38 and a beta of 0.50. The firm’s fifty day moving average is $11.85 and its 200 day moving average is $11.15. L.S. Starrett has a 12-month low of $8.55 and a 12-month high of $14.00.

L.S. Starrett (NYSE:SCXGet Free Report) last released its quarterly earnings data on Monday, November 13th. The company reported $0.25 earnings per share (EPS) for the quarter. The company had revenue of $60.64 million for the quarter. L.S. Starrett had a net margin of 8.95% and a return on equity of 6.53%.

Hedge Funds Weigh In On L.S. Starrett

Institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in shares of L.S. Starrett by 3.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 372,541 shares of the company’s stock worth $4,508,000 after purchasing an additional 13,247 shares during the last quarter. Renaissance Technologies LLC raised its position in L.S. Starrett by 1.1% in the 2nd quarter. Renaissance Technologies LLC now owns 355,565 shares of the company’s stock valued at $3,716,000 after buying an additional 3,842 shares during the last quarter. Vanguard Group Inc. lifted its stake in L.S. Starrett by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 244,536 shares of the company’s stock valued at $2,629,000 after acquiring an additional 1,461 shares in the last quarter. Teton Advisors Inc. boosted its holdings in 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 acquiring an additional 2,100 shares during the last quarter. Finally, Royal Bank of Canada grew its stake in shares of L.S. Starrett by 9.3% in the 3rd quarter. Royal Bank of Canada now owns 28,700 shares of the company’s stock worth $309,000 after acquiring an additional 2,437 shares in the last quarter. 41.60% of the stock is owned by institutional investors and hedge funds.

L.S. Starrett Company Profile

(Get Free Report)

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.

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