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

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

Steel Partners Stock Up 2.4 %

NYSE:SPLP opened at $42.00 on Friday. Steel Partners has a 1 year low of $33.12 and a 1 year high of $43.70. The company has a current ratio of 1.26, a quick ratio of 1.15 and a debt-to-equity ratio of 0.08. The stock has a market cap of $856.51 million, a price-to-earnings ratio of 6.15 and a beta of 1.35. The stock has a 50-day moving average price of $38.61 and a two-hundred day moving average price of $38.12.

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in Steel Partners stock. Teton Advisors Inc. increased its stake in shares of Steel Partners Holdings L.P. (NYSE:SPLP) by 22.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,500 shares of the conglomerate’s stock after acquiring an additional 2,300 shares during the period. Teton Advisors Inc. owned about 0.06% of Steel Partners worth $496,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 50.75% of the company’s stock.

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.