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

StockNews.com started coverage on shares of Steel Partners (NYSE:SPLP) in a research note issued to investors on Tuesday morning. The brokerage issued a strong-buy rating on the conglomerate’s stock.

Steel Partners Price Performance

NYSE:SPLP opened at $35.51 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.27 and a quick ratio of 1.17. The firm has a market cap of $724.12 million, a price-to-earnings ratio of 5.53 and a beta of 1.26. The company has a 50 day moving average price of $38.02 and a 200-day moving average price of $10,210.48. Steel Partners has a 1-year low of $33.12 and a 1-year high of $48.00.

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

Institutional Investors Weigh In On Steel Partners

A hedge fund recently raised its stake in Steel Partners stock. Teton Advisors Inc. boosted its stake in Steel Partners Holdings L.P. (NYSE:SPLP) by 3.4% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 9,800 shares of the conglomerate’s stock after acquiring an additional 318 shares during the quarter. Teton Advisors Inc.’s holdings in Steel Partners were worth $417,000 as of its most recent filing with the SEC. 50.75% of the stock is owned by institutional investors.

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.