Steel Partners (NYSE:SPLP) Earns Strong-Buy Rating from Analysts at StockNews.com

Analysts at StockNews.com initiated coverage on shares of Steel Partners (NYSE:SPLP) in a research note issued to investors on Wednesday. The brokerage set a “strong-buy” rating on the conglomerate’s stock.

Steel Partners Price Performance

NYSE:SPLP opened at $37.23 on Wednesday. The business’s fifty day moving average price is $37.61 and its 200 day moving average price is $10,138.58. The firm has a market capitalization of $759.09 million, a price-to-earnings ratio of 5.45 and a beta of 1.36. 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 1-year low of $33.12 and a 1-year high of $48.00.

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

Institutional Investors Weigh In On Steel Partners

A hedge fund recently raised its stake in Steel Partners stock. Teton Advisors Inc. lifted its position in Steel Partners Holdings L.P. (NYSE:SPLP) by 22.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,500 shares of the conglomerate’s stock after buying an additional 2,300 shares during the quarter. Teton Advisors Inc. owned about 0.06% of Steel Partners worth $496,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds 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.