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

Equities researchers at StockNews.com began coverage on shares of Steel Partners (NYSE:SPLP) in a research note issued to investors on Monday. The brokerage set a “strong-buy” rating on the conglomerate’s stock.

Steel Partners Stock Performance

SPLP opened at $40.00 on Monday. The business has a fifty day moving average price of $39.22 and a 200 day moving average price of $38.23. The stock has a market capitalization of $815.72 million, a price-to-earnings ratio of 5.86 and a beta of 1.35. Steel Partners has a 12 month low of $33.12 and a 12 month high of $43.51. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.26 and a quick ratio of 1.15.

Steel Partners (NYSE:SPLP) last released its quarterly earnings data on Wednesday, August 7th. The conglomerate reported $4.85 earnings per share (EPS) for the quarter. The business had revenue of $533.16 million during the quarter. Steel Partners had a return on equity of 21.44% and a net margin of 11.04%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Steel Partners stock. Gabelli Funds LLC raised its holdings in shares of Steel Partners Holdings L.P. (NYSE:SPLP) by 0.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 596,503 shares of the conglomerate’s stock after acquiring an additional 1,700 shares during the quarter. Gabelli Funds LLC owned approximately 2.93% of Steel Partners worth $22,207,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 50.75% of the company’s stock.

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.