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Mario Gabelli Increases Position in SCX by 53%

July 26, 2011 | About:
Mario Gabelli increased his position in Starrett Co. Cl A (NYSE:SCX) by 53.06% at the average price of $12.49 on 07/26/2011, as reported in his latest 13D filings. He owns 262,803 shares of the company.

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.

Rating: 3.3/5 (4 votes)


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