Begins Coverage on Steel Partners (NYSE:SPLP)

Stock analysts at initiated coverage on shares of Steel Partners (NYSE:SPLPGet Rating) in a research report issued on Sunday. The brokerage set a “strong-buy” rating on the conglomerate’s stock.

Steel Partners Stock Performance

Shares of SPLP stock opened at $43.55 on Friday. The stock has a 50-day moving average of $42.63 and a 200-day moving average of $42.32. Steel Partners has a one year low of $32.01 and a one year high of $47.62. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.18 and a quick ratio of 1.04. The stock has a market cap of $943.03 million, a PE ratio of 6.78 and a beta of 1.35.

Steel Partners (NYSE:SPLPGet Rating) last released its quarterly earnings data on Wednesday, November 9th. The conglomerate reported $1.45 EPS for the quarter. Steel Partners had a return on equity of 13.54% and a net margin of 9.50%. The company had revenue of $425.67 million during the quarter.

Hedge Funds Weigh In On Steel Partners

Hedge funds and other institutional investors have recently made changes to their positions in the stock. HighTower Advisors LLC increased its holdings in shares of Steel Partners by 3.1% during the first quarter. HighTower Advisors LLC now owns 19,047 shares of the conglomerate’s stock valued at $792,000 after acquiring an additional 573 shares in the last quarter. BNP Paribas Arbitrage SA bought a new position in Steel Partners during the 1st quarter worth approximately $122,000. Advisory Services Network LLC bought a new position in Steel Partners during the 1st quarter worth approximately $287,000. FORVIS Wealth Advisors LLC purchased a new position in shares of Steel Partners in the 2nd quarter valued at approximately $388,000. Finally, Steel Partners Holdings L.P. increased its position in Steel Partners by 7.8% during the 2nd quarter. Steel Partners Holdings L.P. now owns 6,903,483 shares of the conglomerate’s stock valued at $289,774,000 after buying an additional 498,015 shares in the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

Steel Partners Company Profile

(Get Rating)

Steel Partners Holdings L.P., through its subsidiaries, engages in industrial products, energy, defense, supply chain management, logistics, banking, and youth sports businesses worldwide. It operates through Diversified Industrial, Energy, and Financial Services 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.

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