Steel Partners (NYSE:SPLP) Now Covered by StockNews.com

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

Steel Partners Price Performance

Shares of SPLP opened at $40.00 on Friday. Steel Partners has a 52 week low of $33.12 and a 52 week high of $42.58. The firm has a market cap of $815.72 million, a P/E ratio of 4.33 and a beta of 1.36. The firm’s 50-day simple moving average is $40.37 and its 200 day simple moving average is $38.51. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.15 and a current ratio of 1.26.

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

Institutional Trading of Steel Partners

A hedge fund recently raised its stake in Steel Partners stock. Gabelli Funds LLC increased its stake in shares of Steel Partners Holdings L.P. (NYSE:SPLP) by 0.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 596,503 shares of the conglomerate’s stock after purchasing an additional 1,700 shares during the quarter. Gabelli Funds LLC owned approximately 2.93% of Steel Partners worth $22,207,000 at the end of the most recent reporting period. 50.75% of the stock is owned by institutional investors and hedge funds.

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.