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

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

Steel Partners Price Performance

SPLP stock opened at $37.00 on Tuesday. The firm’s 50-day moving average price is $37.63 and its two-hundred day moving average price is $10,209.78. Steel Partners has a 12-month low of $33.12 and a 12-month high of $48.00. The stock has a market capitalization of $754.43 million, a price-to-earnings ratio of 5.42 and a beta of 1.34. The company has a current ratio of 1.24, a quick ratio of 1.13 and a debt-to-equity ratio of 0.10.

Steel Partners (NYSE:SPLP) last released its quarterly earnings data on Wednesday, May 8th. The conglomerate reported $1.50 earnings per share (EPS) for the quarter. Steel Partners had a net margin of 8.27% and a return on equity of 16.61%. The firm had revenue of $476.35 million for the quarter.

Institutional Investors Weigh In On Steel Partners

A hedge fund recently raised its stake in Steel Partners stock. Teton Advisors Inc. grew its stake in shares of Steel Partners Holdings L.P. (NYSE:SPLP) by 22.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,500 shares of the conglomerate’s stock after purchasing an additional 2,300 shares during the period. Teton Advisors Inc. owned approximately 0.06% of Steel Partners worth $496,000 as of its most recent SEC filing. 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.