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

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

Steel Partners Stock Up 1.5 %

SPLP stock opened at $37.00 on Tuesday. The company’s 50 day moving average price is $37.63 and its 200 day moving average price is $10,209.78. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.13 and a current ratio of 1.24. Steel Partners has a fifty-two week low of $33.12 and a fifty-two week high of $48.00. The firm has a market capitalization of $754.43 million, a price-to-earnings ratio of 5.42 and a beta of 1.34.

Steel Partners (NYSE:SPLP) last released its earnings results on Wednesday, May 8th. The conglomerate reported $1.50 earnings per share for the quarter. Steel Partners had a net margin of 8.27% and a return on equity of 16.61%. The firm had revenue of $476.35 million for the quarter.

Hedge Funds Weigh In On Steel Partners

A hedge fund recently raised its stake in Steel Partners stock. Teton Advisors Inc. raised its stake in Steel Partners Holdings L.P. (NYSE:SPLP) by 4.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,200 shares of the conglomerate’s stock after purchasing an additional 400 shares during the period. Teton Advisors Inc.’s holdings in Steel Partners were worth $408,000 as of its most recent SEC filing. Institutional investors 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.