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

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

Steel Partners Price Performance

Shares of NYSE SPLP opened at $39.49 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.26 and a quick ratio of 1.15. The stock has a fifty day moving average price of $37.60 and a 200 day moving average price of $37.78. Steel Partners has a 1-year low of $33.12 and a 1-year high of $45.00. The company has a market cap of $805.32 million, a PE ratio of 5.78 and a beta of 1.35.

Steel Partners (NYSE:SPLP) last issued its quarterly earnings results on Wednesday, August 7th. The conglomerate reported $4.85 earnings per share for the quarter. Steel Partners had a return on equity of 21.44% and a net margin of 11.04%. The firm 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 raised its holdings in Steel Partners Holdings L.P. (NYSE:SPLP) by 0.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 596,503 shares of the conglomerate’s stock after acquiring an additional 1,700 shares during the quarter. Gabelli Funds LLC owned 2.93% of Steel Partners worth $22,207,000 as of its most recent filing with the SEC. 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.