Mario Gabelli Increases Position in SCX by 53%
The L.S. Starrett Company is engaged in the business of manufacturing industrial, professional, and consumer products. L.S. Starrett Co. Cl A has a market cap of $83.7 million; its shares were traded at around $12.49 with a P/E ratio of 20.8 and P/S ratio of 0.4. The dividend yield of L.S. Starrett Co. Cl A stocks is 3.2%.
Arnold Van Den Berg owns 42,078 shares as of 06/30/2011, an increase of 14.24% from the previous quarter. This position accounts for 0.0408% of the $1.06 billion portfolio of Century Management.
The L.S. Starrett Company recently reported its third quarter 2011 fiscal results. For the three months ended March 26, 2011, net sales increased $10.1 million or 21% from $48.7 million to $58.8 million, compared to results from the first quarter of 2010. A weaker U. S. dollar translated into a $1.5 million revenue increase. Operating income was up 1.3 million. A $3.4 million improvement in gross margin was offset by a $3.4 million increase in selling and general expenses. Net income for fiscal 2011 was $1.7 million, or $0.25 per share, compared to $0.2 million, or $0.03 per share in fiscal 2010, primarily due to improved profits and a lower effective tax rate.
SRX has a predictability rating of 1 star.