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

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

Steel Partners Trading Down 1.1 %

Shares of SPLP opened at $36.00 on Thursday. Steel Partners has a 12 month low of $33.12 and a 12 month high of $47.96. The stock’s 50-day moving average is $37.69 and its two-hundred day moving average is $10,068.33. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.24 and a quick ratio of 1.13. The stock has a market cap of $734.04 million, a PE ratio of 5.27 and a beta of 1.36.

Steel Partners (NYSE:SPLP) last announced its 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 return on equity of 16.61% and a net margin of 8.27%.

Hedge Funds Weigh In On Steel Partners

A hedge fund recently raised its stake in Steel Partners stock. Teton Advisors Inc. increased its stake in Steel Partners Holdings L.P. (NYSE:SPLP) by 4.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,200 shares of the conglomerate’s stock after buying an additional 400 shares during the period. Teton Advisors Inc.’s holdings in Steel Partners were worth $408,000 at the end of the most recent reporting period. 50.75% of the stock is owned by institutional investors and hedge funds.

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.