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

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

Steel Partners Price Performance

SPLP stock opened at $40.95 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.15 and a current ratio of 1.26. The firm has a market capitalization of $834.97 million, a price-to-earnings ratio of 6.00 and a beta of 1.35. The firm has a 50 day moving average price of $39.05 and a 200-day moving average price of $38.23. Steel Partners has a 52-week low of $33.12 and a 52-week high of $43.70.

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

Hedge Funds Weigh In On Steel Partners

An institutional investor recently raised its position in Steel Partners stock. Teton Advisors Inc. grew its stake in shares of Steel Partners Holdings L.P. (NYSE:SPLP) by 22.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,500 shares of the conglomerate’s stock after acquiring an additional 2,300 shares during the quarter. Teton Advisors Inc. owned about 0.06% of Steel Partners worth $496,000 as of its most recent SEC filing. 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.