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

Investment analysts at StockNews.com began coverage on shares of Steel Partners (NYSE:SPLP) in a report issued on Monday. The brokerage set a “strong-buy” rating on the conglomerate’s stock.

Steel Partners Stock Performance

Shares of SPLP stock opened at $40.16 on Monday. The company has a market capitalization of $770.27 million, a price-to-earnings ratio of 4.12 and a beta of 1.39. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.16 and a current ratio of 1.27. Steel Partners has a 52 week low of $33.12 and a 52 week high of $48.45. The company has a 50-day simple moving average of $42.00 and a 200 day simple moving average of $40.25.

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

Institutional Trading of Steel Partners

An institutional investor recently raised its position in Steel Partners stock. HighTower Advisors LLC lifted its stake in Steel Partners Holdings L.P. (NYSE:SPLP) by 2.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,420 shares of the conglomerate’s stock after buying an additional 635 shares during the period. HighTower Advisors LLC owned approximately 0.14% of Steel Partners worth $1,082,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors 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.