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

StockNews.com initiated coverage on shares of Steel Partners (NYSE:SPLP) in a report released on Sunday. The brokerage set a “strong-buy” rating on the conglomerate’s stock.

Steel Partners Price Performance

Shares of NYSE:SPLP opened at $40.88 on Friday. The business has a fifty day simple moving average of $41.14 and a 200 day simple moving average of $41.10. The company has a current ratio of 1.27, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11. Steel Partners has a 1 year low of $34.55 and a 1 year high of $48.45. The firm has a market cap of $779.69 million, a price-to-earnings ratio of 4.19 and a beta of 1.37.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Teton Advisors Inc. raised its holdings in Steel Partners by 4.0% in the 4th quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate’s stock worth $553,000 after acquiring an additional 500 shares during the period. De Lisle Partners LLP increased its stake in shares of Steel Partners by 83.0% in the third quarter. De Lisle Partners LLP now owns 22,877 shares of the conglomerate’s stock worth $924,000 after purchasing an additional 10,377 shares during the period. HighTower Advisors LLC lifted its position in shares of Steel Partners by 2.5% during the 3rd quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock worth $1,082,000 after purchasing an additional 635 shares during the last quarter. Finally, Gamco Investors INC. ET AL grew its holdings in Steel Partners by 3.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate’s stock valued at $4,123,000 after buying an additional 3,300 shares during the last quarter. 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.