Steel Partners (NYSE:SPLP) Coverage Initiated by Analysts at StockNews.com

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

Steel Partners Trading Down 9.7 %

NYSE:SPLP traded down $3.88 during mid-day trading on Friday, hitting $36.12. 705 shares of the company’s stock were exchanged, compared to its average volume of 5,092. Steel Partners has a fifty-two week low of $33.12 and a fifty-two week high of $42.58. The company has a current ratio of 1.26, a quick ratio of 1.15 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $736.49 million, a P/E ratio of 3.91 and a beta of 1.36. The company has a 50 day simple moving average of $40.33 and a 200-day simple moving average of $38.52.

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

Hedge Funds Weigh In On Steel Partners

An institutional investor recently raised its position in Steel Partners stock. Gabelli Funds LLC raised its position in Steel Partners Holdings L.P. (NYSE:SPLP) by 0.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 596,503 shares of the conglomerate’s stock after purchasing an additional 1,700 shares during the period. Gabelli Funds LLC owned 2.93% of Steel Partners worth $22,207,000 as of its most recent filing with the SEC. 50.75% of the stock is currently owned by institutional investors.

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.