Schmitt Industries (SMIT) Rating Increased to Buy at ValuEngine

Schmitt Industries (NASDAQ:SMIT) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

Schmitt Industries (NASDAQ:SMIT) opened at $2.26 on Thursday. Schmitt Industries has a 12-month low of $1.48 and a 12-month high of $2.69.

Schmitt Industries (NASDAQ:SMIT) last announced its earnings results on Friday, October 6th. The scientific and technical instruments company reported ($0.04) earnings per share (EPS) for the quarter. The company had revenue of $3.08 million for the quarter. Schmitt Industries had a negative return on equity of 15.15% and a negative net margin of 8.59%.

An institutional investor recently raised its position in Schmitt Industries stock. GRT Capital Partners L.L.C. increased its holdings in shares of Schmitt Industries, Inc. (NASDAQ:SMIT) by 48.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 112,825 shares of the scientific and technical instruments company’s stock after buying an additional 37,000 shares during the period. GRT Capital Partners L.L.C. owned 3.77% of Schmitt Industries worth $194,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 21.99% of the company’s stock.

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Schmitt Industries Company Profile

Schmitt Industries, Inc designs, manufactures and sells test and measurement products for two main business segments: the Balancer segment and the Measurement segment. The Company operates through two segments: the design and assembly of dynamic balancing systems and components for the machine tool industry (Balancer), and the design and assembly of laser-based test and measurement systems (Measurement).

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