The L.S. Starrett Company (SCX) Bundle
A Brief History of The L.S. Starrett Company (SCX)
Founding and Early Years
The L.S. Starrett Company was founded in 1880 by L.S. Starrett in Athol, Massachusetts. Initially focused on producing precision tools, the company quickly gained a reputation for excellence in manufacturing.
Expansion and Innovation
In the early 1900s, the company expanded its product offerings to include a broader range of measuring instruments. By 1905, Starrett introduced the first combination square, which became one of its signature products.
Key Products and Contributions
- Precision Tools: Measuring tools such as calipers, micrometers, and gages.
- Built-to-Last Equipment: Professional-grade products known for durability.
- Innovation: Focused on R&D leading to patented devices in precision measuring.
Financial Growth
As of the fiscal year ending June 30, 2023, L.S. Starrett Company reported revenues of approximately $38.4 million, a reflection of its strong market presence.
Global Reach and Market Presence
The company has expanded its operations internationally, with manufacturing facilities not only in the U.S. but also in countries like Brazil, the UK, and China. This global presence allows Starrett to serve a variety of markets effectively.
Stock Performance
As of October 2023, the stock price of L.S. Starrett Company (SCX) was approximately $8.50 per share. The company is traded on the New York Stock Exchange.
Recent Developments
In 2022, L.S. Starrett Company announced a capital investment of $2.5 million to upgrade its manufacturing capabilities to enhance productivity.
Employee Base
The company has approximately 500 employees, contributing to a diverse workforce skilled in precision manufacturing.
| Year | Revenue (in millions) | Net Income (in millions) | Stock Price |
|---|---|---|---|
| 2020 | $34.2 | $1.5 | $7.60 |
| 2021 | $35.5 | $1.8 | $7.80 |
| 2022 | $37.1 | $2.0 | $8.10 |
| 2023 | $38.4 | $2.2 | $8.50 |
Corporate Social Responsibility
L.S. Starrett Company is committed to sustainability and has implemented various programs to reduce its carbon footprint. In 2023, they reported a recycling rate of 75% across their facilities.
Future Outlook
The company aims to enhance its product line by introducing new technology-driven tools and expanding its e-commerce presence, capitalizing on the growing demand for precision instruments in various fields.
A Who Owns The L.S. Starrett Company (SCX)
Current Ownership Structure
The L.S. Starrett Company, traded under the ticker symbol SCX, is primarily owned by a combination of institutional and retail investors. As of the latest reports, the ownership distribution is as follows:
| Ownership Type | Percentage |
|---|---|
| Institutional Investors | 61.6% |
| Insider Ownership | 18.5% |
| Retail Investors | 19.9% |
Major Institutional Shareholders
Some of the significant institutional shareholders of The L.S. Starrett Company include:
| Institution | Shares Owned | Percentage of Ownership |
|---|---|---|
| BlackRock, Inc. | 450,000 | 11.5% |
| Dimensional Fund Advisors LP | 400,000 | 10.3% |
| Wellington Management Group LLP | 350,000 | 9.0% |
Executive Leadership and Insider Holdings
The executive leadership team also holds a significant percentage of shares:
| Name | Position | Shares Owned | Percentage of Ownership |
|---|---|---|---|
| Joseph P. Starrett | President and CEO | 150,000 | 3.9% |
| Thomas E. Starrett | Board Member | 100,000 | 2.6% |
| Michael A. Starrett | Chief Financial Officer | 75,000 | 1.9% |
Recent Stock Performance
As of October 2023, The L.S. Starrett Company's stock performance has observed the following metrics:
| Metric | Value |
|---|---|
| Current Stock Price | $15.45 |
| Market Capitalization | $120 million |
| 52-Week High | $18.65 |
| 52-Week Low | $12.30 |
| P/E Ratio | 22.5 |
Historical Ownership Changes
Over the past five years, The L.S. Starrett Company has experienced changes in ownership percentages:
| Year | Institutional Ownership (%) | Insider Ownership (%) | Retail Ownership (%) |
|---|---|---|---|
| 2019 | 55.0% | 20.0% | 25.0% |
| 2020 | 57.5% | 19.5% | 23.0% |
| 2021 | 59.0% | 19.0% | 22.0% |
| 2022 | 60.5% | 18.7% | 20.8% |
| 2023 | 61.6% | 18.5% | 19.9% |
Conclusion of Ownership Overview
The L.S. Starrett Company maintains a diverse ownership structure with notable involvement from institutional investors and insiders. The stock's performance reflects its position in the market, and changes in ownership reveal trends in investor confidence.
The L.S. Starrett Company (SCX) Mission Statement
Company Overview
The L.S. Starrett Company, established in 1880, operates in the precision measurement and cutting tools industry. The company is headquartered in Athol, Massachusetts, and specializes in the manufacture of tools and precision instruments for a variety of sectors including manufacturing, construction, and maintenance.
Mission Statement
The L.S. Starrett Company's mission statement emphasizes commitment to quality, innovation, and customer satisfaction. The company strives to deliver superior precision tools that enhance productivity and efficiency in its customers' operations.
| Core Values | Description |
|---|---|
| Quality | Commitment to producing high-quality tools and instruments. |
| Innovation | Continuous improvement and technological advancement in products. |
| Customer Satisfaction | Focus on meeting and exceeding customer expectations. |
| Integrity | Conducting business with honesty and transparency. |
| Sustainability | Practicing environmentally responsible manufacturing processes. |
Financial Performance
For the fiscal year 2022, The L.S. Starrett Company reported a revenue of approximately $67.6 million. The company experienced a net income of $3.1 million, reflecting a significant improvement compared to previous years.
Market Position
As of the third quarter of 2023, The L.S. Starrett Company is listed on the New York Stock Exchange under the ticker symbol SCX. The stock price has fluctuated between $10.00 and $12.50 over the past year, with a market capitalization of approximately $80 million.
Product Categories
The L.S. Starrett Company offers a diverse range of products across several categories:
- Measuring Tools
- Cutting Tools
- Precision Instruments
- Gauges
- Test Equipment
Global Reach
The L.S. Starrett Company exports its products to over 100 countries worldwide, highlighting its global presence and commitment to serving diverse markets. The company's international sales accounted for approximately 30% of its total revenue in 2022.
Employee Commitment
The company employs around 350 individuals, focusing on creating a work environment that promotes growth, development, and safety for its workforce.
Recent Developments
In 2023, The L.S. Starrett Company invested $2 million in research and development aimed at enhancing the functionality and accuracy of its measuring tools.
| Recent Investments | Amount | Purpose |
|---|---|---|
| Research and Development | $2 million | Enhancing tool functionality |
| Manufacturing Upgrades | $1.5 million | Improving production efficiency |
| Employee Training Programs | $500,000 | Skills development |
How The L.S. Starrett Company (SCX) Works
Company Overview
The L.S. Starrett Company, commonly known as SCX, specializes in manufacturing precision measuring tools, gages, and saw blades. Founded in 1880, it operates primarily in the United States but also has a global presence, supplying products to various industries, including manufacturing, construction, and engineering.
Financial Performance
As of the latest financial reports, the following figures represent the financial health and performance of The L.S. Starrett Company:
| Fiscal Year | Revenue (in millions) | Net Income (in millions) | Total Assets (in millions) | Market Capitalization (in millions) |
|---|---|---|---|---|
| 2023 | $89.5 | $2.1 | $62.3 | $68.0 |
| 2022 | $85.3 | $1.8 | $60.0 | $65.0 |
| 2021 | $78.7 | $1.5 | $57.5 | $60.0 |
Product Lines
The company offers a diverse range of products categorized into various lines, which include:
- Measuring Tools
- Precision Gages
- Hand Tools
- Industrial Saws
- Optical Measuring Instruments
Market Reach
The L.S. Starrett Company serves numerous sectors. Below are some statistical insights into its market reach:
| Sector | Percentage of Revenue | Key Customers |
|---|---|---|
| Manufacturing | 40% | General Electric, Boeing |
| Construction | 30% | Bechtel, Turner Construction |
| Automotive | 20% | Ford, GM |
| Others | 10% | Various Local Businesses |
International Operations
The L.S. Starrett Company has expanded its operations internationally, with manufacturing facilities and distribution centers located outside the United States in countries such as:
- Canada
- United Kingdom
- Brazil
- China
- India
Production Capacity
The company's manufacturing capacity is crucial to its operations, with recent figures indicating:
| Facility | Location | Production Capacity (units/year) |
|---|---|---|
| Main Manufacturing Plant | Athol, MA | 1,500,000 |
| Distribution Center | Toronto, Canada | 500,000 |
| International Facility | Wuxi, China | 700,000 |
Research & Development
Investment in research and development has been a priority for The L.S. Starrett Company, with expenditures amounting to:
| Year | R&D Expenditure (in millions) |
|---|---|
| 2023 | $4.5 |
| 2022 | $4.2 |
| 2021 | $3.9 |
Sustainability Initiatives
The L.S. Starrett Company has adopted several sustainability initiatives, including:
- Reduction of waste by 15% in 2023
- Implementation of energy-efficient machinery
- Commitment to sustainable sourcing for materials
Employee Statistics
The workforce at The L.S. Starrett Company reflects its commitment to skilled labor, with the following statistics:
| Year | Total Employees | Unionized Employees | Average Salary (in USD) |
|---|---|---|---|
| 2023 | 750 | 350 | $60,000 |
| 2022 | 700 | 340 | $58,000 |
| 2021 | 680 | 330 | $55,000 |
Conclusion
The operational framework of The L.S. Starrett Company showcases its strategic focus on quality manufacturing, financial sustainability, and a robust global presence.
How The L.S. Starrett Company (SCX) Makes Money
Product Revenue
The L.S. Starrett Company generates revenue primarily through the sale of precision tools and instruments. The company specializes in manufacturing a wide range of products, including:
- Measuring instruments
- Cutting tools
- Gauges
- Metalworking tools
- Quality control products
In the fiscal year 2022, the company reported sales of approximately $42.7 million from its tool and instrument segment.
Market Segments
The company serves various market segments which contribute to its revenue, including:
- Aerospace
- Automotive
- Construction
- Manufacturing
- Industrial markets
In fiscal year 2022, the distribution of sales by market segment was:
| Market Segment | Revenue (in millions) | Percentage of Total Revenue |
|---|---|---|
| Aerospace | $10.0 | 23.4% |
| Automotive | $8.5 | 19.9% |
| Construction | $7.2 | 16.9% |
| Manufacturing | $9.0 | 21.1% |
| Industrial Markets | $7.0 | 16.6% |
Global Presence
L.S. Starrett operates globally, with a significant market presence in:
- North America
- Europe
- Asia
- Latin America
The company’s international sales contributed approximately $22 million to its overall revenue in 2022, accounting for about 51.5% of total sales.
Strategic Partnerships and Collaborations
The company frequently engages in partnerships to expand its market reach. Recent collaborations have led to increased product distribution channels and enhanced technological integration. For instance, in 2021, Starrett partnered with several industrial distributors, resulting in a 15% increase in sales through those channels.
Operational Efficiency
Cost management and operational efficiency are crucial to L.S. Starrett’s profitability. The company has invested in automation and technology upgrades, aiming to reduce production costs by 12% over five years. In 2022, operational expenses were reported at $30 million, leading to a gross profit of $12.7 million.
Financial Performance
In fiscal year 2022, the financial performance metrics for L.S. Starrett included:
| Financial Metric | Amount (in millions) |
|---|---|
| Total Revenue | $42.7 |
| Gross Profit | $12.7 |
| Operating Expenses | $30.0 |
| Net Income | $5.0 |
Research and Development
Investment in research and development (R&D) is vital for innovation and product development at L.S. Starrett. For the fiscal year 2022, R&D expenses were approximately $2 million, aimed at enhancing product quality and introducing new technologies.
Conclusion on Revenue Streams
Overall, The L.S. Starrett Company leverages a diversified portfolio of products, a strategic global presence, and operational efficiencies to drive revenue generation and maintain competitiveness in the precision tools market.
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