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

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

Steel Partners Price Performance

Shares of Steel Partners stock opened at $40.49 on Wednesday. The stock’s 50-day simple moving average is $40.30 and its 200-day simple moving average is $38.43. Steel Partners has a 52 week low of $33.12 and a 52 week high of $43.00. The company has a market capitalization of $825.71 million, a price-to-earnings ratio of 5.93 and a beta of 1.35. The company has a quick ratio of 1.15, a current ratio of 1.26 and a debt-to-equity ratio of 0.08.

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

Institutional Investors Weigh In On Steel Partners

An institutional investor recently raised its position in Steel Partners stock. Teton Advisors Inc. increased its position in Steel Partners Holdings L.P. (NYSE:SPLP) by 22.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent quarter. 50.75% of the stock is currently owned by hedge funds and other institutional investors.

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.