Schmitt Industries, Inc. (SMIT) Stake Maintained by Gamco Investors, Inc. Et Al

Gamco Investors, Inc. Et Al

disclosed that they own a 17.5% stake in Schmitt Industries, Inc. (NASDAQ:SMIT) in a Form 13D/A disclosure that was filed with the Securities and Exchange Commission on Thursday, December 28th. The investor owns 697,034 shares of the stock valued at about $1,854,110. The reporting parties listed on the disclosure included Teton Advisors, Inc ID No 134008049, GGCP, Inc ID No 133056041, GAMCO Investors, Inc ID No 134007862, Associated Capital Group, Inc ID No 473965991 and Mario J Gabelli. The filing is available through the SEC website at this link.

Separately, GRT Capital Partners L.L.C. grew its holdings in shares of Schmitt Industries by 48.8% during the 2nd quarter. GRT Capital Partners L.L.C. now owns 112,825 shares of the scientific and technical instruments company’s stock worth $194,000 after purchasing an additional 37,000 shares during the period. Institutional investors own 21.99% of the company’s stock.

SMIT has been the subject of a number of research reports. ValuEngine cut Schmitt Industries from a “buy” rating to a “hold” rating in a report on Thursday, September 28th. TheStreet upgraded Schmitt Industries from a “d+” rating to a “c-” rating in a report on Monday, December 11th.

Shares of Schmitt Industries, Inc. (NASDAQ SMIT) traded up $0.05 during trading hours on Thursday, hitting $2.66. The stock had a trading volume of 174,206 shares, compared to its average volume of 93,958. The stock has a market cap of $7.82, a PE ratio of -13.30 and a beta of 0.58. Schmitt Industries, Inc. has a 1-year low of $1.48 and a 1-year high of $4.47.

Schmitt Industries (NASDAQ:SMIT) last released its quarterly earnings results on Wednesday, December 13th. The scientific and technical instruments company reported $0.03 earnings per share for the quarter. The firm had revenue of $3.77 million during the quarter. Schmitt Industries had a negative return on equity of 8.47% and a negative net margin of 4.35%.

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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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