Steel Partners (NYSE:SPLP) Receives New Coverage from Analysts at StockNews.com

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

Steel Partners Trading Down 1.2 %

NYSE:SPLP opened at $41.50 on Friday. The company’s 50 day moving average is $38.69 and its 200-day moving average is $38.15. The company has a quick ratio of 1.15, a current ratio of 1.26 and a debt-to-equity ratio of 0.08. Steel Partners has a 12 month low of $33.12 and a 12 month high of $43.70. The firm has a market cap of $846.31 million, a price-to-earnings ratio of 6.08 and a beta of 1.35.

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in Steel Partners stock. Teton Advisors Inc. boosted its holdings in shares of Steel Partners Holdings L.P. (NYSE:SPLP) by 22.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,500 shares of the conglomerate’s stock after buying an additional 2,300 shares during the period. Teton Advisors Inc. owned about 0.06% of Steel Partners worth $496,000 as of its most recent SEC filing. 50.75% of the stock is currently 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.