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

Analysts at StockNews.com assumed coverage on shares of Steel Partners (NYSE:SPLP) in a research note issued on Sunday. The firm set a “strong-buy” rating on the conglomerate’s stock.

Steel Partners Price Performance

SPLP opened at $38.50 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 0.21. The company’s 50-day moving average price is $38.00 and its 200 day moving average price is $10,139.83. Steel Partners has a fifty-two week low of $33.12 and a fifty-two week high of $48.00. The firm has a market cap of $797.72 million, a price-to-earnings ratio of 6.00 and a beta of 1.26.

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

Institutional Investors Weigh In On Steel Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SPLP. Advisory Services Network LLC acquired a new stake in shares of Steel Partners during the fourth quarter valued at approximately $120,000. BNP Paribas Arbitrage SA acquired a new stake in shares of Steel Partners in the first quarter worth $122,000. Teton Advisors Inc. grew its holdings in shares of Steel Partners by 4.1% during the fourth quarter. Teton Advisors Inc. now owns 10,200 shares of the conglomerate’s stock valued at $408,000 after buying an additional 400 shares in the last quarter. Finally, HighTower Advisors LLC grew its stake in Steel Partners by 3.1% during the 1st 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. 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.