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

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

Steel Partners Stock Performance

Shares of SPLP stock opened at $37.05 on Tuesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.13 and a current ratio of 1.24. The stock has a market capitalization of $755.55 million, a P/E ratio of 5.43 and a beta of 1.34. The company has a 50 day moving average price of $37.65 and a 200 day moving average price of $10,209.81. Steel Partners has a fifty-two week low of $33.12 and a fifty-two week high of $48.00.

Steel Partners (NYSE:SPLP) last issued its quarterly earnings results on Wednesday, May 8th. The conglomerate reported $1.50 earnings per share (EPS) for the quarter. Steel Partners had a net margin of 8.27% and a return on equity of 16.61%. The company had revenue of $476.35 million during the quarter.

Institutional Trading of Steel Partners

A hedge fund recently raised its stake in Steel Partners stock. Teton Advisors Inc. lifted its stake in shares of Steel Partners Holdings L.P. (NYSE:SPLP) by 22.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,500 shares of the conglomerate’s stock after buying an additional 2,300 shares during the quarter. Teton Advisors Inc. owned about 0.06% of Steel Partners worth $496,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 50.75% of the company’s stock.

About Steel Partners

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.