Initiates Coverage on Steel Partners (NYSE:SPLP)

Equities researchers at started coverage on shares of Steel Partners (NYSE:SPLPGet Free Report) in a research report issued on Monday. The brokerage set a “strong-buy” rating on the conglomerate’s stock.

Steel Partners Stock Performance

Shares of SPLP stock opened at $37.44 on Monday. Steel Partners has a 1 year low of $33.12 and a 1 year high of $48.00. The firm has a market capitalization of $763.48 million, a price-to-earnings ratio of 5.83 and a beta of 1.26. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.27 and a quick ratio of 1.17. The business has a fifty day moving average of $38.07 and a 200 day moving average of $10,210.76.

Steel Partners (NYSE:SPLPGet Free Report) last posted its earnings results on Friday, March 8th. The conglomerate reported $1.75 EPS for the quarter. The firm had revenue of $466.91 million for the quarter. Steel Partners had a return on equity of 16.41% and a net margin of 7.92%.

Institutional Investors Weigh In On Steel Partners

Institutional investors have recently bought and sold shares of the stock. Teton Advisors Inc. increased its holdings in Steel Partners by 4.1% in the 4th quarter. Teton Advisors Inc. now owns 10,200 shares of the conglomerate’s stock valued at $408,000 after purchasing an additional 400 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of Steel Partners during the 4th quarter valued at about $120,000. HighTower Advisors LLC raised its position in shares of Steel Partners by 2.2% during the 3rd quarter. HighTower Advisors LLC now owns 24,065 shares of the conglomerate’s stock worth $1,023,000 after purchasing an additional 522 shares during the period. Finally, BNP Paribas Arbitrage SA bought a new stake in Steel Partners in the first quarter valued at $122,000. 50.75% of the stock is currently owned by hedge funds and other institutional investors.

Steel Partners Company Profile

(Get Free Report)

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.

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