Steel Partners (NYSE:SPLP) Now Covered by Analysts at StockNews.com

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

Steel Partners Price Performance

SPLP opened at $37.23 on Wednesday. Steel Partners has a twelve month low of $33.12 and a twelve month high of $48.00. The company’s 50-day moving average price is $37.60 and its two-hundred day moving average price is $10,209.72. The stock has a market cap of $759.09 million, a price-to-earnings ratio of 5.45 and a beta of 1.36. The company has a quick ratio of 1.13, a current ratio of 1.24 and a debt-to-equity ratio of 0.10.

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

Institutional Investors Weigh In On Steel Partners

A hedge fund recently raised its stake in Steel Partners stock. Teton Advisors Inc. increased its holdings in Steel Partners Holdings L.P. (NYSE:SPLP) by 22.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,500 shares of the conglomerate’s stock after buying an additional 2,300 shares during the period. Teton Advisors Inc. owned 0.06% of Steel Partners worth $496,000 as of its most recent SEC filing. Institutional investors and hedge funds 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.