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

Research analysts at StockNews.com assumed coverage on shares of Steel Partners (NYSE:SPLP) in a research note issued on Wednesday. The firm set a “strong-buy” rating on the conglomerate’s stock.

Steel Partners Trading Down 0.7 %

Shares of NYSE SPLP opened at $37.75 on Wednesday. The stock has a fifty day simple moving average of $37.91 and a 200-day simple moving average of $10,068.94. Steel Partners has a twelve month low of $33.12 and a twelve month high of $48.00. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $769.72 million, a PE ratio of 5.88 and a beta of 1.30.

Steel Partners (NYSE:SPLP) last issued its quarterly earnings results on Wednesday, May 8th. The conglomerate reported $1.50 earnings per share (EPS) for the quarter. The company had revenue of $476.35 million for the quarter. Steel Partners had a net margin of 7.92% and a return on equity of 16.41%.

Hedge Funds Weigh In On Steel Partners

An institutional investor recently raised its position in Steel Partners stock. Teton Advisors Inc. grew its holdings in Steel Partners Holdings L.P. (NYSE:SPLP) by 4.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 10,200 shares of the conglomerate’s stock after acquiring an additional 400 shares during the quarter. Teton Advisors Inc.’s holdings in Steel Partners were worth $408,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 50.75% of the company’s stock.

About Steel Partners

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.