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

StockNews.com initiated coverage on shares of Steel Partners (NYSE:SPLP) in a report issued on Saturday morning. The brokerage issued a strong-buy rating on the conglomerate’s stock.

Steel Partners Stock Up 1.3 %

Steel Partners stock opened at $38.00 on Friday. The business has a fifty day moving average price of $37.53 and a 200-day moving average price of $37.70. Steel Partners has a 1-year low of $33.12 and a 1-year high of $47.96. The stock has a market capitalization of $774.82 million, a price-to-earnings ratio of 5.56 and a beta of 1.36. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.24 and a quick ratio of 1.13.

Steel Partners (NYSE:SPLP) last issued its quarterly earnings results on Wednesday, May 8th. The conglomerate reported $1.50 earnings per share 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. lifted its position in Steel Partners Holdings L.P. (NYSE:SPLP) by 4.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,200 shares of the conglomerate’s stock after purchasing an additional 400 shares during the quarter. Teton Advisors Inc.’s holdings in Steel Partners were worth $408,000 as of its most recent SEC filing. 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.