Steel Partners (NYSE:SPLP) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of Steel Partners (NYSE:SPLP) in a report issued on Tuesday. The brokerage issued a strong-buy rating on the conglomerate’s stock.

Steel Partners Stock Down 0.5 %

SPLP stock opened at $41.53 on Tuesday. The firm’s fifty day moving average is $39.89 and its 200 day moving average is $38.34. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.15 and a current ratio of 1.26. Steel Partners has a one year low of $33.12 and a one year high of $43.31. The firm has a market cap of $846.91 million, a PE ratio of 6.08 and a beta of 1.35.

Steel Partners (NYSE:SPLP) last announced its earnings results on Wednesday, August 7th. The conglomerate reported $4.85 earnings per share (EPS) for the quarter. The firm had revenue of $533.16 million for the quarter. Steel Partners had a return on equity of 21.44% and a net margin of 11.04%.

Hedge Funds Weigh In On Steel Partners

A hedge fund recently raised its stake in Steel Partners stock. Gabelli Funds LLC boosted its holdings in shares of Steel Partners Holdings L.P. (NYSE:SPLP) by 0.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 596,503 shares of the conglomerate’s stock after acquiring an additional 1,700 shares during the period. Gabelli Funds LLC owned 2.93% of Steel Partners worth $22,207,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 50.75% of the company’s stock.

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.