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

Equities research analysts at StockNews.com started coverage on shares of Steel Partners (NYSE:SPLP – Get Rating) in a research report issued to clients and investors on Monday. The firm set a “strong-buy” rating on the conglomerate’s stock.

Steel Partners Stock Performance

NYSE:SPLP opened at $43.87 on Monday. The stock’s 50-day simple moving average is $42.64 and its 200 day simple moving average is $42.88. The firm has a market capitalization of $950.66 million, a PE ratio of 4.94 and a beta of 1.31. 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.

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

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SPLP. Steel Partners Holdings L.P. lifted its holdings in Steel Partners by 1.1% during the 1st quarter. Steel Partners Holdings L.P. now owns 7,308,932 shares of the conglomerate’s stock worth $320,785,000 after purchasing an additional 80,840 shares in the last quarter. Teton Advisors Inc. lifted its holdings in Steel Partners by 0.6% during the 1st quarter. Teton Advisors Inc. now owns 93,000 shares of the conglomerate’s stock worth $4,082,000 after purchasing an additional 600 shares in the last quarter. Alpha Omega Wealth Management LLC lifted its holdings in Steel Partners by 4.1% during the 4th quarter. Alpha Omega Wealth Management LLC now owns 76,457 shares of the conglomerate’s stock worth $3,272,000 after purchasing an additional 3,000 shares in the last quarter. HighTower Advisors LLC raised its holdings in shares of Steel Partners by 2.5% in the 1st quarter. HighTower Advisors LLC now owns 22,999 shares of the conglomerate’s stock valued at $1,009,000 after acquiring an additional 559 shares in the last quarter. Finally, Moors & Cabot Inc. purchased a new stake in shares of Steel Partners in the 4th quarter valued at about $420,000. Institutional investors own 90.03% of the company’s stock.

Steel Partners Company Profile

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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.