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

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

Steel Partners Stock Up 0.7 %

Steel Partners stock opened at $41.76 on Monday. Steel Partners has a fifty-two week low of $34.55 and a fifty-two week high of $48.45. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.16 and a current ratio of 1.27. The firm has a 50 day moving average price of $41.07 and a 200 day moving average price of $41.18. The company has a market capitalization of $796.48 million, a PE ratio of 4.28 and a beta of 1.37.

Steel Partners (NYSE:SPLP) last posted its earnings results on Tuesday, March 11th. The conglomerate reported $3.40 earnings per share for the quarter. Steel Partners had a net margin of 11.43% and a return on equity of 21.72%. The firm had revenue of $497.92 million during the quarter.

Institutional Investors Weigh In On Steel Partners

Several large investors have recently added to or reduced their stakes in the business. Teton Advisors Inc. increased its stake in Steel Partners by 4.0% during the 4th quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate’s stock worth $553,000 after buying an additional 500 shares during the period. HighTower Advisors LLC increased its stake in Steel Partners by 2.2% during the 4th quarter. HighTower Advisors LLC now owns 26,997 shares of the conglomerate’s stock worth $1,149,000 after buying an additional 577 shares during the period. Gamco Investors INC. ET AL increased its stake in Steel Partners by 3.5% during the 4th quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate’s stock worth $4,123,000 after buying an additional 3,300 shares during the period. Finally, De Lisle Partners LLP increased its stake in Steel Partners by 83.0% during the 3rd quarter. De Lisle Partners LLP now owns 22,877 shares of the conglomerate’s stock worth $924,000 after buying an additional 10,377 shares during the period. 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.