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

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

Steel Partners Stock Performance

Shares of SPLP opened at $41.81 on Monday. Steel Partners has a 1 year low of $34.55 and a 1 year high of $48.45. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.27 and a quick ratio of 1.16. The stock’s fifty day moving average price is $41.02 and its two-hundred day moving average price is $41.19. The firm has a market cap of $797.53 million, a PE ratio of 4.29 and a beta of 1.37.

Steel Partners (NYSE:SPLP) last announced its quarterly earnings data on Tuesday, March 11th. The conglomerate reported $3.40 earnings per share (EPS) for the quarter. The business had revenue of $497.92 million for the quarter. Steel Partners had a return on equity of 21.72% and a net margin of 11.43%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SPLP. Teton Advisors Inc. boosted its holdings in shares of Steel Partners by 4.0% in the fourth quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate’s stock worth $553,000 after acquiring an additional 500 shares during the period. De Lisle Partners LLP lifted its holdings in Steel Partners by 83.0% during the 3rd quarter. De Lisle Partners LLP now owns 22,877 shares of the conglomerate’s stock worth $924,000 after purchasing an additional 10,377 shares in the last quarter. HighTower Advisors LLC boosted its stake in Steel Partners by 2.5% in the 3rd quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock worth $1,082,000 after purchasing an additional 635 shares during the period. Finally, Gamco Investors INC. ET AL grew its holdings in Steel Partners by 3.5% during the 4th quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate’s stock valued at $4,123,000 after buying an additional 3,300 shares in the last 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.