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

Analysts at StockNews.com started coverage on shares of Steel Partners (NYSE:SPLP) in a research note issued on Sunday. The firm set a “strong-buy” rating on the conglomerate’s stock.

Steel Partners Stock Performance

SPLP stock opened at $40.25 on Friday. Steel Partners has a 1 year low of $33.12 and a 1 year high of $43.70. The stock has a market capitalization of $820.82 million, a price-to-earnings ratio of 5.89 and a beta of 1.35. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.15 and a current ratio of 1.26. The stock’s fifty day moving average is $38.91 and its two-hundred day moving average is $38.21.

Steel Partners (NYSE:SPLP) last posted 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 firm had revenue of $533.16 million during the quarter.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Steel Partners stock. Gabelli Funds LLC lifted its stake in shares of Steel Partners Holdings L.P. (NYSE:SPLP) by 0.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (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 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.

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.