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

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

Steel Partners Trading Down 3.0 %

SPLP stock opened at $37.44 on Monday. The firm has a market cap of $763.48 million, a P/E ratio of 5.83 and a beta of 1.26. Steel Partners has a 52-week low of $33.12 and a 52-week high of $48.00. 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 simple moving average is $38.07 and its 200-day simple moving average is $10,210.76.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA acquired a new position in Steel Partners in the 1st quarter valued at about $122,000. Advisory Services Network LLC acquired a new position in Steel Partners in the fourth quarter valued at approximately $120,000. Teton Advisors Inc. grew its position in Steel Partners by 3.4% in the third quarter. Teton Advisors Inc. now owns 9,800 shares of the conglomerate’s stock worth $417,000 after acquiring an additional 318 shares during the period. Finally, HighTower Advisors LLC increased its stake in Steel Partners by 3.1% during the first quarter. HighTower Advisors LLC now owns 19,047 shares of the conglomerate’s stock worth $792,000 after acquiring an additional 573 shares during the last quarter. 50.75% of the stock is currently owned by institutional investors and hedge funds.

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.