StockNews.com Begins Coverage on Steel Partners (NYSE:SPLP)

Stock analysts at StockNews.com initiated coverage on shares of Steel Partners (NYSE:SPLP) in a report issued on Saturday. The brokerage set a “strong-buy” rating on the conglomerate’s stock.

Steel Partners Price Performance

NYSE:SPLP opened at $41.01 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.26 and a quick ratio of 1.15. Steel Partners has a one year low of $33.12 and a one year high of $44.99. The firm’s 50 day simple moving average is $38.49 and its 200 day simple moving average is $38.07. The company has a market cap of $836.19 million, a PE ratio of 6.00 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 EPS for the quarter. The company had revenue of $533.16 million for the quarter. Steel Partners had a net margin of 11.04% and a return on equity of 21.44%.

Institutional Investors Weigh In On Steel Partners

A hedge fund recently raised its stake in Steel Partners stock. Gabelli Funds LLC lifted its position in shares of Steel Partners Holdings L.P. (NYSE:SPLP) by 0.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 596,503 shares of the conglomerate’s stock after buying an additional 1,700 shares during the quarter. Gabelli Funds LLC owned about 2.93% of Steel Partners worth $22,207,000 at the end of the most recent reporting period. Institutional investors own 50.75% of the company’s stock.

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.