Steel Partners (NYSE:SPLP) Now Covered by Analysts at StockNews.com

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

Steel Partners Stock Performance

Shares of SPLP stock opened at $37.23 on Tuesday. The business’s fifty day simple moving average is $37.61 and its 200-day simple moving average is $10,068.48. The company has a market cap of $759.09 million, a PE ratio of 5.45 and a beta of 1.34. The company has a current ratio of 1.24, a quick ratio of 1.13 and a debt-to-equity ratio of 0.10. Steel Partners has a 12-month low of $33.12 and a 12-month high of $48.00.

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

Hedge Funds Weigh In On Steel Partners

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