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

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

Steel Partners Price Performance

NYSE SPLP opened at $38.58 on Friday. The business has a 50 day simple moving average of $38.03 and a 200 day simple moving average of $10,210.91. The stock has a market cap of $786.66 million, a price-to-earnings ratio of 6.01 and a beta of 1.26. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.17 and a current ratio of 1.27. Steel Partners has a 52-week low of $33.12 and a 52-week high of $48.00.

Steel Partners (NYSE:SPLP) last posted its quarterly earnings results on Friday, March 8th. The conglomerate reported $1.75 earnings per share for the quarter. The firm had revenue of $466.91 million during the quarter. Steel Partners had a return on equity of 16.41% and a net margin of 7.92%.

Hedge Funds Weigh In On Steel Partners

A number of hedge funds have recently bought and sold shares of the business. Teton Advisors Inc. raised its position in Steel Partners by 4.1% during the fourth quarter. Teton Advisors Inc. now owns 10,200 shares of the conglomerate’s stock valued at $408,000 after purchasing an additional 400 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of Steel Partners in the 4th quarter valued at about $120,000. HighTower Advisors LLC increased its stake in shares of Steel Partners by 2.2% in the third quarter. HighTower Advisors LLC now owns 24,065 shares of the conglomerate’s stock valued at $1,023,000 after buying an additional 522 shares during the period. Finally, BNP Paribas Arbitrage SA bought a new position in shares of Steel Partners during the first quarter worth about $122,000. 50.75% of the stock is 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.