Steel Partners (NYSE:SPLP) Now Covered by Analysts at StockNews.com

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

Steel Partners Trading Up 2.5 %

SPLP opened at $39.97 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.26 and a quick ratio of 1.15. Steel Partners has a fifty-two week low of $33.12 and a fifty-two week high of $42.58. The firm has a market capitalization of $815.11 million, a PE ratio of 4.33 and a beta of 1.35. The company’s 50-day moving average is $40.35 and its 200 day moving average is $38.46.

Steel Partners (NYSE:SPLP) last posted its quarterly earnings data on Wednesday, August 7th. The conglomerate reported $4.85 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%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Steel Partners stock. Gabelli Funds LLC raised its position in Steel Partners Holdings L.P. (NYSE:SPLP) by 0.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 596,503 shares of the conglomerate’s stock after purchasing an additional 1,700 shares during the period. Gabelli Funds LLC owned 2.93% of Steel Partners worth $22,207,000 at the end of the most recent reporting period. Institutional investors and hedge funds 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.