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

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

Steel Partners Trading Up 3.0 %

SPLP opened at $38.00 on Wednesday. The firm’s 50 day moving average is $37.87 and its 200-day moving average is $10,210.22. Steel Partners has a 52-week low of $33.12 and a 52-week high of $48.00. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $774.82 million, a P/E ratio of 5.92 and a beta of 1.30.

Steel Partners (NYSE:SPLP) last released its quarterly earnings results on Wednesday, May 8th. The conglomerate reported $1.50 earnings per share for the quarter. Steel Partners had a net margin of 7.92% and a return on equity of 16.41%. The business had revenue of $476.35 million during the quarter.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Steel Partners stock. Teton Advisors Inc. boosted its stake in Steel Partners Holdings L.P. (NYSE:SPLP) by 4.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,200 shares of the conglomerate’s stock after acquiring an additional 400 shares during the period. Teton Advisors Inc.’s holdings in Steel Partners were worth $408,000 at the end of the most recent reporting period. Institutional investors own 50.75% of the company’s stock.

About Steel Partners

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.