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

Equities researchers at StockNews.com started coverage on shares of Steel Partners (NYSE:SPLP) in a report issued on Friday. The firm set a “strong-buy” rating on the conglomerate’s stock.

Steel Partners Price Performance

NYSE:SPLP opened at $40.00 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.15 and a current ratio of 1.26. The stock has a 50-day simple moving average of $40.37 and a 200 day simple moving average of $38.51. Steel Partners has a one year low of $33.12 and a one year high of $42.58. The company has a market capitalization of $815.72 million, a price-to-earnings ratio of 4.33 and a beta of 1.36.

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

Institutional Investors Weigh In On Steel Partners

An institutional investor recently raised its position in Steel Partners stock. Teton Advisors Inc. lifted its stake in Steel Partners Holdings L.P. (NYSE:SPLP) by 22.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,500 shares of the conglomerate’s stock after purchasing an additional 2,300 shares during the period. Teton Advisors Inc. owned 0.06% of Steel Partners worth $496,000 at the end of the most recent quarter. 50.75% of the stock is owned by institutional investors and hedge funds.

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.