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

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

Steel Partners Stock Performance

NYSE SPLP opened at $41.75 on Tuesday. Steel Partners has a one year low of $33.12 and a one year high of $43.51. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.15 and a current ratio of 1.26. The company has a market capitalization of $851.28 million, a price-to-earnings ratio of 4.52 and a beta of 1.35. The company’s 50-day simple moving average is $39.82 and its two-hundred day simple moving average is $38.31.

Steel Partners (NYSE:SPLP) last released its quarterly earnings data on Wednesday, August 7th. The conglomerate reported $4.85 earnings per share (EPS) for the quarter. The firm had revenue of $533.16 million for the quarter. Steel Partners had a net margin of 11.04% and a return on equity of 21.44%.

Institutional Investors Weigh In On Steel Partners

An institutional investor recently raised its position in Steel Partners stock. Gabelli Funds LLC raised its position in shares of Steel Partners Holdings L.P. (NYSE:SPLP) by 0.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 596,503 shares of the conglomerate’s stock after buying an additional 1,700 shares during the quarter. Gabelli Funds LLC owned about 2.93% of Steel Partners worth $22,207,000 at the end of the most recent reporting period. 50.75% of the stock is currently owned by 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.