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

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

Steel Partners Price Performance

SPLP opened at $37.44 on Friday. The firm has a market cap of $763.49 million, a P/E ratio of 5.83 and a beta of 1.26. The firm has a 50-day moving average of $38.04 and a 200 day moving average of $10,210.87. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.17 and a current ratio of 1.27. Steel Partners has a fifty-two week low of $33.12 and a fifty-two week high of $48.00.

Steel Partners (NYSE:SPLP) last posted its quarterly earnings results on Friday, March 8th. The conglomerate reported $1.75 earnings per share for the quarter. The company had revenue of $466.91 million during the quarter. Steel Partners had a net margin of 7.92% and a return on equity of 16.41%.

Institutional Investors Weigh In On Steel Partners

A number of institutional investors and hedge funds have recently modified their holdings of the company. Teton Advisors Inc. raised its stake in Steel Partners by 3.4% in the third quarter. Teton Advisors Inc. now owns 9,800 shares of the conglomerate’s stock valued at $417,000 after purchasing an additional 318 shares in the last quarter. HighTower Advisors LLC raised its stake in Steel Partners by 2.5% in the first quarter. HighTower Advisors LLC now owns 22,999 shares of the conglomerate’s stock valued at $1,009,000 after purchasing an additional 559 shares in the last quarter. Advisory Services Network LLC purchased a new stake in Steel Partners in the first quarter valued at approximately $287,000. Finally, BNP Paribas Arbitrage SA purchased a new stake in Steel Partners in the first quarter valued at approximately $122,000. 50.75% of the stock is owned by hedge funds and other 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.