Steel Partners (NYSE:SPLP) Now Covered by StockNews.com

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

Steel Partners Stock Performance

Shares of SPLP stock opened at $36.01 on Friday. The company has a market capitalization of $689.63 million, a P/E ratio of 3.69 and a beta of 1.01. Steel Partners has a 52 week low of $27.00 and a 52 week high of $48.45. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.16 and a current ratio of 1.27. The company’s 50 day moving average price is $38.70 and its two-hundred day moving average price is $40.45.

Steel Partners (NYSE:SPLP) last posted its quarterly earnings data on Tuesday, March 11th. The conglomerate reported $3.40 EPS for the quarter. The business had revenue of $497.92 million for the quarter. Steel Partners had a net margin of 11.43% and a return on equity of 21.72%.

Hedge Funds Weigh In On Steel Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPLP. HighTower Advisors LLC grew its stake in Steel Partners by 2.2% in the 4th quarter. HighTower Advisors LLC now owns 26,997 shares of the conglomerate’s stock valued at $1,149,000 after buying an additional 577 shares during the last quarter. Teton Advisors Inc. boosted its stake in Steel Partners by 4.0% in the 4th quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate’s stock valued at $553,000 after purchasing an additional 500 shares during the period. Gamco Investors INC. ET AL increased its position in Steel Partners by 3.5% during the 4th quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate’s stock worth $4,123,000 after buying an additional 3,300 shares during the period. Finally, Axxcess Wealth Management LLC bought a new position in Steel Partners during the 1st quarter worth $330,000. 50.75% of the stock is owned by institutional investors.

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.