Steel Partners (NYSE:SPLP) Receives New Coverage from Analysts at StockNews.com

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

Steel Partners Stock Performance

SPLP opened at $37.44 on Monday. The firm’s fifty day simple moving average is $38.08 and its two-hundred day simple moving average is $10,210.73. The company has a market cap of $763.42 million, a price-to-earnings ratio of 5.83 and a beta of 1.26. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 0.21. Steel Partners has a 52-week low of $33.12 and a 52-week high of $48.00.

Steel Partners (NYSE:SPLP) last issued its earnings results on Friday, March 8th. The conglomerate reported $1.75 EPS for the quarter. The business had revenue of $466.91 million during the quarter. Steel Partners had a net margin of 7.92% and a return on equity of 16.41%.

Institutional Investors Weigh In On Steel Partners

An institutional investor recently raised its position in Steel Partners stock. Teton Advisors Inc. grew its holdings in Steel Partners Holdings L.P. (NYSE:SPLP) by 3.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,800 shares of the conglomerate’s stock after buying an additional 318 shares during the period. Teton Advisors Inc.’s holdings in Steel Partners were worth $417,000 as of its most recent filing with the Securities & Exchange Commission. 50.75% of the stock is currently owned by hedge funds and other 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.