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

StockNews.com began coverage on shares of Steel Partners (NYSE:SPLP) in a report released on Thursday morning. The firm issued a strong-buy rating on the conglomerate’s stock.

Steel Partners Stock Up 0.0 %

SPLP stock opened at $39.50 on Thursday. The business’s 50 day moving average price is $37.65 and its two-hundred day moving average price is $37.82. The company has a market capitalization of $805.41 million, a price-to-earnings ratio of 5.78 and a beta of 1.35. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.15 and a current ratio of 1.26. Steel Partners has a fifty-two week low of $33.12 and a fifty-two week high of $45.00.

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

Institutional Trading of Steel Partners

A hedge fund recently raised its stake in Steel Partners stock. Gabelli Funds LLC lifted its holdings in Steel Partners Holdings L.P. (NYSE:SPLP) by 0.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 596,503 shares of the conglomerate’s stock after acquiring an additional 1,700 shares during the period. Gabelli Funds LLC owned 2.93% of Steel Partners worth $22,207,000 at the end of the most recent quarter. Hedge funds and other 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.