Steel Partners (NYSE:SPLP) Now Covered by StockNews.com

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

Steel Partners Price Performance

Steel Partners stock opened at $37.23 on Wednesday. Steel Partners has a 1 year low of $33.12 and a 1 year high of $48.00. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.13 and a current ratio of 1.24. The firm has a 50 day moving average price of $37.61 and a 200 day moving average price of $10,138.58. The company has a market cap of $759.09 million, a price-to-earnings ratio of 5.45 and a beta of 1.36.

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

Hedge Funds Weigh In On Steel Partners

A hedge fund recently raised its stake in Steel Partners stock. Teton Advisors Inc. boosted its holdings in Steel Partners Holdings L.P. (NYSE:SPLP) by 4.1% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 10,200 shares of the conglomerate’s stock after buying an additional 400 shares during the period. Teton Advisors Inc.’s holdings in Steel Partners were worth $408,000 at the end of the most recent reporting period. 50.75% of the stock is currently owned by institutional investors and hedge funds.

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.