Steel Partners (NYSE:SPLP) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of Steel Partners (NYSE:SPLP) in a research note released on Sunday. The brokerage issued a strong-buy rating on the conglomerate’s stock.

Steel Partners Price Performance

Shares of SPLP stock opened at $41.05 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.27 and a debt-to-equity ratio of 0.11. Steel Partners has a 12-month low of $33.12 and a 12-month high of $48.45. The firm has a fifty day moving average of $41.97 and a 200-day moving average of $40.10. The firm has a market capitalization of $787.34 million, a price-to-earnings ratio of 4.21 and a beta of 1.39.

Steel Partners (NYSE:SPLP) last issued its quarterly earnings data on Friday, November 8th. The conglomerate reported $1.65 earnings per share (EPS) for the quarter. The business had revenue of $520.42 million during the quarter. Steel Partners had a return on equity of 21.72% and a net margin of 11.43%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. HighTower Advisors LLC boosted its position in Steel Partners by 2.5% during the 3rd quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock worth $1,082,000 after acquiring an additional 635 shares during the last quarter. Gabelli Funds LLC lifted its position in shares of Steel Partners by 0.3% in the second quarter. Gabelli Funds LLC now owns 596,503 shares of the conglomerate’s stock worth $22,207,000 after purchasing an additional 1,700 shares in the last quarter. Finally, De Lisle Partners LLP boosted its holdings in Steel Partners by 83.0% during the third quarter. De Lisle Partners LLP now owns 22,877 shares of the conglomerate’s stock worth $924,000 after purchasing an additional 10,377 shares during the last quarter. 50.75% of the stock is currently owned by institutional investors.

Steel Partners Company Profile

Steel Partners Holdings L.P., together with its subsidiaries, engages in industrial products, energy, banking, defense, supply chain management, logistics, and youth sports businesses worldwide. It operates through Diversified Industrial, Energy, Financial Services, and Supply Chain segments. The company fabricates precious metals and alloys into brazing alloys; manufactures and sells seamless stainless steel tubing coils; fasteners, adhesives, and fastening systems for the commercial low slope roofing industry, as well as specialty fasteners for the building products industry; and woven substrates of fiberglass, quartz, carbon, and aramid materials for specialty applications.