Steel Partners (NYSE:SPLP) Receives New Coverage from Analysts at StockNews.com

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

Steel Partners Price Performance

Steel Partners stock opened at $39.25 on Wednesday. The company has a market capitalization of $800.43 million, a price-to-earnings ratio of 5.75 and a beta of 1.36. The company has a current ratio of 1.26, a quick ratio of 1.15 and a debt-to-equity ratio of 0.08. Steel Partners has a 12 month low of $33.12 and a 12 month high of $45.00. The stock’s 50 day moving average is $37.29 and its 200-day moving average is $37.70.

Steel Partners (NYSE:SPLP) last announced its earnings results on Wednesday, August 7th. The conglomerate reported $4.85 earnings per share (EPS) for the quarter. Steel Partners had a net margin of 11.04% and a return on equity of 21.44%. The company had revenue of $533.16 million during the quarter.

Institutional Investors Weigh In On Steel Partners

An institutional investor recently raised its position in Steel Partners stock. Gabelli Funds LLC lifted its holdings in shares of Steel Partners Holdings L.P. (NYSE:SPLP) by 0.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 596,503 shares of the conglomerate’s stock after purchasing an additional 1,700 shares during the period. Gabelli Funds LLC owned 2.93% of Steel Partners worth $22,207,000 as of its most recent filing with the SEC. 50.75% of the stock is owned by hedge funds and other institutional investors.

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.