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

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

Steel Partners Price Performance

SPLP stock opened at $40.03 on Tuesday. Steel Partners has a one year low of $33.12 and a one year high of $48.45. The company’s fifty day moving average price is $42.01 and its 200-day moving average price is $40.44. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.16 and a current ratio of 1.27. The company has a market capitalization of $767.78 million, a PE ratio of 4.11 and a beta of 1.38.

Steel Partners (NYSE:SPLP) last announced its quarterly earnings results on Friday, November 8th. The conglomerate reported $1.65 earnings per share for the quarter. Steel Partners had a net margin of 11.43% and a return on equity of 21.72%. The company had revenue of $520.42 million for the quarter.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Steel Partners stock. HighTower Advisors LLC increased its holdings in Steel Partners Holdings L.P. (NYSE:SPLP) by 2.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,420 shares of the conglomerate’s stock after acquiring an additional 635 shares during the quarter. HighTower Advisors LLC owned approximately 0.14% of Steel Partners worth $1,082,000 as of its most recent SEC filing. 50.75% of the stock is owned by hedge funds and other 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.