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

StockNews.com initiated coverage on shares of Steel Partners (NYSE:SPLP – Get Rating) in a report released on Monday morning. The firm issued a strong-buy rating on the conglomerate’s stock.

Steel Partners Trading Up 0.2 %

SPLP stock opened at $44.08 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.11 and a debt-to-equity ratio of 0.26. Steel Partners has a twelve month low of $38.00 and a twelve month high of $47.62. The stock has a market capitalization of $955.11 million, a price-to-earnings ratio of 4.96 and a beta of 1.31. The firm’s fifty day simple moving average is $42.69 and its two-hundred day simple moving average is $42.91.

Steel Partners (NYSE:SPLP – Get Rating) last posted its quarterly earnings data on Wednesday, March 8th. The conglomerate reported $2.82 earnings per share for the quarter. Steel Partners had a net margin of 13.04% and a return on equity of 20.56%. The business had revenue of $422.62 million for the quarter.

Insider Activity

In other news, President Jack L. Howard sold 10,000 shares of the business’s stock in a transaction on Thursday, March 23rd. The shares were sold at an average price of $22.91, for a total transaction of $229,100.00. Following the completion of the sale, the president now directly owns 186,375 shares of the company’s stock, valued at $4,269,851.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, President Jack L. Howard sold 10,000 shares of the business’s stock in a transaction on Thursday, March 23rd. The shares were sold at an average price of $22.91, for a total transaction of $229,100.00. Following the completion of the sale, the president now directly owns 186,375 shares of the company’s stock, valued at $4,269,851.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Jack L. Howard sold 12,946 shares of the company’s stock in a transaction dated Wednesday, March 29th. The stock was sold at an average price of $22.90, for a total transaction of $296,463.40. Following the completion of the sale, the president now directly owns 161,115 shares of the company’s stock, valued at $3,689,533.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,961 shares of company stock valued at $916,689. 70.20% of the stock is currently owned by company insiders.

Institutional Trading of Steel Partners

A number of hedge funds have recently added to or reduced their stakes in the business. Steel Partners Holdings L.P. lifted its stake in Steel Partners by 1.1% in the first quarter. Steel Partners Holdings L.P. now owns 7,308,932 shares of the conglomerate’s stock worth $320,785,000 after acquiring an additional 80,840 shares during the period. Teton Advisors Inc. lifted its stake in Steel Partners by 0.6% in the first quarter. Teton Advisors Inc. now owns 93,000 shares of the conglomerate’s stock worth $4,082,000 after acquiring an additional 600 shares during the period. Alpha Omega Wealth Management LLC lifted its stake in Steel Partners by 4.1% in the fourth quarter. Alpha Omega Wealth Management LLC now owns 76,457 shares of the conglomerate’s stock worth $3,272,000 after acquiring an additional 3,000 shares during the period. HighTower Advisors LLC lifted its stake in Steel Partners by 2.5% in the first quarter. HighTower Advisors LLC now owns 22,999 shares of the conglomerate’s stock worth $1,009,000 after acquiring an additional 559 shares during the period. Finally, Moors & Cabot Inc. purchased a new stake in Steel Partners in the fourth quarter worth about $420,000. 90.03% of the stock is owned by hedge funds and other institutional investors.

About Steel Partners

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Steel Partners Holdings LP engages in owning and operating businesses in various industries, including diversified industrial products, energy, defense, supply chain management and logistics, banking, and youth sports. It operates through the following segments: Diversified Industrial, Energy, Financial Services, and Corporate and Other.