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

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

Steel Partners Price Performance

SPLP opened at $37.50 on Friday. The company has a market capitalization of $764.63 million, a P/E ratio of 5.49 and a beta of 1.36. The company has a 50-day moving average of $37.57 and a 200-day moving average of $6,816.02. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.13 and a current ratio of 1.24. Steel Partners has a 1-year low of $33.12 and a 1-year high of $47.96.

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

Hedge Funds Weigh In On Steel Partners

A hedge fund recently raised its stake in Steel Partners stock. Teton Advisors Inc. increased its holdings in Steel Partners Holdings L.P. (NYSE:SPLP) by 4.1% in the 4th quarter, according to its most recent 13F filing 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 as of its most recent filing with the SEC. 50.75% of the stock is owned by institutional investors and hedge funds.

Steel Partners Company Profile

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.