Steel Partners (NYSE:SPLP) Earns Strong-Buy Rating from Analysts at StockNews.com

Investment analysts at StockNews.com assumed coverage on shares of Steel Partners (NYSE:SPLP) in a note issued to investors on Wednesday. The firm set a “strong-buy” rating on the conglomerate’s stock.

Steel Partners Stock Performance

Shares of SPLP opened at $37.23 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.24 and a quick ratio of 1.13. The firm has a market capitalization of $759.09 million, a price-to-earnings ratio of 5.45 and a beta of 1.36. The company has a 50-day moving average of $37.60 and a 200 day moving average of $10,209.73. Steel Partners has a 1-year low of $33.12 and a 1-year high of $48.00.

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

Hedge Funds Weigh In On Steel Partners

An institutional investor recently raised its position in Steel Partners stock. Teton Advisors Inc. grew its position in Steel Partners Holdings L.P. (NYSE:SPLP) by 22.5% during the first quarter, according to its most recent 13F filing with the SEC. 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 owned by institutional investors.

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.