Steel Partners (NYSE:SPLP) Earns Strong-Buy Rating from Analysts at StockNews.com

Stock analysts at StockNews.com initiated coverage on shares of Steel Partners (NYSE:SPLP) in a research report issued to clients and investors on Tuesday. The firm set a “strong-buy” rating on the conglomerate’s stock.

Steel Partners Price Performance

Shares of NYSE:SPLP opened at $35.00 on Tuesday. The business has a fifty day simple moving average of $38.04 and a 200 day simple moving average of $10,210.53. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 0.21. Steel Partners has a 1 year low of $33.12 and a 1 year high of $48.00. The firm has a market cap of $713.65 million, a price-to-earnings ratio of 5.45 and a beta of 1.26.

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. Steel Partners had a return on equity of 16.41% and a net margin of 7.92%. The company had revenue of $466.91 million during the quarter.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Steel Partners stock. Teton Advisors Inc. lifted its stake in shares of Steel Partners Holdings L.P. (NYSE:SPLP) by 4.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,200 shares of the conglomerate’s stock after acquiring an additional 400 shares during the quarter. Teton Advisors Inc.’s holdings in Steel Partners were worth $408,000 as of its most recent filing with the SEC. 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.