StockNews.com Begins Coverage on Steel Partners (NYSE:SPLP)

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

Steel Partners Trading Down 3.6 %

Shares of SPLP opened at $40.25 on Friday. Steel Partners has a twelve month low of $33.12 and a twelve month high of $43.70. The firm has a market capitalization of $820.82 million, a P/E ratio of 5.89 and a beta of 1.35. The company has a current ratio of 1.26, a quick ratio of 1.15 and a debt-to-equity ratio of 0.08. The stock’s fifty day simple moving average is $38.91 and its 200 day simple moving average is $38.21.

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

Hedge Funds Weigh In On Steel Partners

An institutional investor recently raised its position in Steel Partners stock. Gabelli Funds LLC grew its position in Steel Partners Holdings L.P. (NYSE:SPLP) by 0.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 596,503 shares of the conglomerate’s stock after acquiring an additional 1,700 shares during the quarter. Gabelli Funds LLC owned approximately 2.93% of Steel Partners worth $22,207,000 as of its most recent filing with the Securities and Exchange Commission. 50.75% of the stock is 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.