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 research note issued on Friday. The firm set a “strong-buy” rating on the conglomerate’s stock.

Steel Partners Price Performance

SPLP opened at $36.12 on Friday. The stock has a market cap of $736.49 million, a P/E ratio of 3.91 and a beta of 1.36. Steel Partners has a 52-week low of $33.12 and a 52-week high of $42.58. The business has a fifty day moving average of $40.33 and a 200 day moving average of $38.52. The company has a quick ratio of 1.15, a current ratio of 1.26 and a debt-to-equity ratio of 0.08.

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

Institutional Investors Weigh In On Steel Partners

An institutional investor recently raised its position in Steel Partners stock. Teton Advisors Inc. boosted its position in Steel Partners Holdings L.P. (NYSE:SPLP) by 22.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,500 shares of the conglomerate’s stock after buying an additional 2,300 shares during the period. Teton Advisors Inc. owned approximately 0.06% of Steel Partners worth $496,000 as of its most recent filing with the Securities & Exchange Commission. 50.75% of the stock is owned by hedge funds and other 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.