StockNews.com Begins Coverage on Steel Partners (NYSE:SPLP)

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

Steel Partners Trading Down 1.2 %

Shares of SPLP stock opened at $36.98 on Monday. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 0.21. The stock has a market cap of $754.02 million, a P/E ratio of 5.76 and a beta of 1.26. The stock has a 50 day simple moving average of $38.06 and a 200 day simple moving average of $10,139.54. Steel Partners has a 1 year low of $33.12 and a 1 year high of $48.00.

Steel Partners (NYSE:SPLP) last issued its quarterly earnings results on Friday, March 8th. The conglomerate reported $1.75 earnings per share (EPS) for the quarter. The business 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%.

Institutional Investors Weigh In On Steel Partners

An institutional investor recently raised its position in Steel Partners stock. HighTower Advisors LLC boosted its holdings in shares of Steel Partners Holdings L.P. (NYSE:SPLP) by 2.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,065 shares of the conglomerate’s stock after purchasing an additional 522 shares during the period. HighTower Advisors LLC owned about 0.11% of Steel Partners worth $1,023,000 at the end of the most recent quarter. 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.