Steel Partners (NYSE:SPLP) Now Covered by Analysts at StockNews.com

Equities researchers at StockNews.com began coverage on shares of Steel Partners (NYSE:SPLP) in a research report issued to clients and investors on Sunday. The brokerage set a “strong-buy” rating on the conglomerate’s stock.

Steel Partners Trading Up 1.7 %

Shares of NYSE SPLP opened at $40.95 on Friday. The stock has a market cap of $835.09 million, a price-to-earnings ratio of 6.00 and a beta of 1.35. The business has a 50 day simple moving average of $38.98 and a 200 day simple moving average of $38.22. Steel Partners has a 52 week low of $33.12 and a 52 week high of $43.70. 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 (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 during the quarter. Steel Partners had a return on equity of 21.44% and a net margin of 11.04%.

Institutional Investors Weigh In On Steel Partners

An institutional investor recently raised its position in Steel Partners stock. Teton Advisors Inc. raised its holdings in shares of Steel Partners Holdings L.P. (NYSE:SPLP) by 22.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,500 shares of the conglomerate’s stock after buying an additional 2,300 shares during the quarter. Teton Advisors Inc. owned about 0.06% of Steel Partners worth $496,000 as of its most recent SEC filing. 50.75% of the stock is owned by hedge funds and other 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.