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

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

Steel Partners Stock Up 2.3 %

Shares of NYSE:SPLP opened at $41.49 on Friday. The stock has a 50 day moving average price of $38.00 and a 200-day moving average price of $37.94. Steel Partners has a 52-week low of $33.12 and a 52-week high of $44.99. The firm has a market capitalization of $846.11 million, a P/E ratio of 6.07 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.

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 firm had revenue of $533.16 million during the quarter.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Steel Partners stock. Teton Advisors Inc. increased its position in Steel Partners Holdings L.P. (NYSE:SPLP) by 22.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,500 shares of the conglomerate’s stock after purchasing an additional 2,300 shares during the quarter. Teton Advisors Inc. owned approximately 0.06% of Steel Partners worth $496,000 as of its most recent SEC filing. Institutional investors and hedge funds 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.