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

Equities research analysts at StockNews.com began 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

NYSE:SPLP opened at $42.00 on Tuesday. The business’s 50-day moving average price is $42.02 and its two-hundred day moving average price is $40.37. Steel Partners has a twelve month low of $33.12 and a twelve month high of $48.45. The stock has a market cap of $805.77 million, a P/E ratio of 4.31 and a beta of 1.39. The company has a quick ratio of 1.16, a current ratio of 1.27 and a debt-to-equity ratio of 0.11.

Steel Partners (NYSE:SPLP) last issued its quarterly earnings data on Friday, November 8th. The conglomerate reported $1.65 earnings per share for the quarter. The firm had revenue of $520.42 million for the quarter. Steel Partners had a return on equity of 21.72% and a net margin of 11.43%.

Institutional Trading of Steel Partners

An institutional investor recently raised its position in Steel Partners stock. De Lisle Partners LLP raised its stake in Steel Partners Holdings L.P. (NYSE:SPLP) by 83.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,877 shares of the conglomerate’s stock after acquiring an additional 10,377 shares during the period. De Lisle Partners LLP owned 0.12% of Steel Partners worth $924,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 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.