Steel Partners (NYSE:SPLP) Coverage Initiated by Analysts at StockNews.com

Equities research analysts at StockNews.com assumed coverage on shares of Steel Partners (NYSE:SPLP) in a research note issued to investors on Tuesday. The firm set a “strong-buy” rating on the conglomerate’s stock.

Steel Partners Trading Down 2.2 %

Shares of SPLP opened at $41.01 on Tuesday. Steel Partners has a 1 year low of $34.55 and a 1 year high of $48.45. The company has a 50 day simple moving average of $41.15 and a two-hundred day simple moving average of $41.24. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.27 and a quick ratio of 1.16. The firm has a market cap of $782.17 million, a P/E ratio of 4.21 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. The company had revenue of $497.92 million during the quarter. Steel Partners had a net margin of 11.43% and a return on equity of 21.72%.

Hedge Funds Weigh In On Steel Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. HighTower Advisors LLC raised its holdings in shares of Steel Partners by 2.5% during the 3rd quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock worth $1,082,000 after acquiring an additional 635 shares in the last quarter. Gamco Investors INC. ET AL increased its position in Steel Partners by 3.5% in the fourth quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate’s stock worth $4,123,000 after purchasing an additional 3,300 shares during the last quarter. Finally, Teton Advisors Inc. lifted its position in Steel Partners by 4.0% during the fourth quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate’s stock valued at $553,000 after purchasing an additional 500 shares during the last quarter. 50.75% of the stock is owned by 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.