Steel Partners (NYSE:SPLP) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of Steel Partners (NYSE:SPLP) in a research report sent to investors on Wednesday morning. The firm issued a strong-buy rating on the conglomerate’s stock.

Steel Partners Price Performance

SPLP opened at $31.30 on Wednesday. The firm has a 50-day moving average price of $40.67 and a 200-day moving average price of $41.05. Steel Partners has a twelve month low of $27.95 and a twelve month high of $48.45. The company has a quick ratio of 1.16, a current ratio of 1.27 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $599.43 million, a price-to-earnings ratio of 3.21 and a beta of 1.01.

Steel Partners (NYSE:SPLP) last released its quarterly earnings data on Tuesday, March 11th. The conglomerate reported $3.40 earnings per share (EPS) for the quarter. Steel Partners had a return on equity of 21.72% and a net margin of 11.43%. The company had revenue of $497.92 million for the quarter.

Institutional Investors Weigh In On Steel Partners

Institutional investors and hedge funds have recently made changes to their positions in the business. Teton Advisors Inc. raised its stake in Steel Partners by 4.0% in the fourth quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate’s stock valued at $553,000 after purchasing an additional 500 shares in the last quarter. HighTower Advisors LLC increased its holdings in shares of Steel Partners by 2.2% in the 4th quarter. HighTower Advisors LLC now owns 26,997 shares of the conglomerate’s stock worth $1,149,000 after buying an additional 577 shares during the last quarter. Finally, Gamco Investors INC. ET AL increased its holdings in shares of Steel Partners by 3.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate’s stock worth $4,123,000 after buying an additional 3,300 shares during the last quarter. Hedge funds and other institutional investors 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.