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

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

Steel Partners Price Performance

Shares of SPLP stock opened at $39.84 on Monday. The stock has a 50-day moving average price of $39.34 and a 200 day moving average price of $38.24. The company has a quick ratio of 1.15, a current ratio of 1.26 and a debt-to-equity ratio of 0.08. The firm has a market cap of $812.51 million, a price-to-earnings ratio of 5.83 and a beta of 1.35. Steel Partners has a 12 month low of $33.12 and a 12 month high of $43.51.

Steel Partners (NYSE:SPLP) last announced its quarterly earnings data on Wednesday, August 7th. The conglomerate reported $4.85 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%.

Hedge Funds Weigh In On Steel Partners

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

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.