Steel Partners (NYSE:SPLP) Earns Strong-Buy Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Steel Partners (NYSE:SPLP) in a research report report published on Tuesday. The brokerage issued a strong-buy rating on the conglomerate’s stock.

Steel Partners Stock Down 1.6 %

SPLP stock opened at $36.47 on Tuesday. Steel Partners has a 52 week low of $33.12 and a 52 week high of $48.00. The company has a market capitalization of $743.62 million, a price-to-earnings ratio of 5.34 and a beta of 1.34. The firm’s 50-day moving average is $37.63 and its two-hundred day moving average is $10,209.78. The company has a current ratio of 1.24, a quick ratio of 1.13 and a debt-to-equity ratio of 0.10.

Steel Partners (NYSE:SPLP) last released its earnings results on Wednesday, May 8th. The conglomerate reported $1.50 EPS for the quarter. Steel Partners had a net margin of 8.27% and a return on equity of 16.61%. The business had revenue of $476.35 million for the quarter.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Steel Partners stock. Teton Advisors Inc. boosted its stake in shares of Steel Partners Holdings L.P. (NYSE:SPLP) by 4.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,200 shares of the conglomerate’s stock after purchasing 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. Hedge funds and other 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.