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

StockNews.com assumed coverage on shares of Steel Partners (NYSE:SPLP) in a research note issued to investors on Tuesday. The firm set a “strong-buy” rating on the conglomerate’s stock.

Steel Partners Stock Performance

Shares of Steel Partners stock opened at $42.05 on Tuesday. The business’s fifty day simple moving average is $42.05 and its 200-day simple moving average is $40.43. The company has a quick ratio of 1.16, a current ratio of 1.27 and a debt-to-equity ratio of 0.11. The firm has a market cap of $806.60 million, a PE ratio of 4.31 and a beta of 1.38. Steel Partners has a 52 week low of $33.12 and a 52 week high of $48.45.

Steel Partners (NYSE:SPLP) last released its quarterly earnings results on Friday, November 8th. The conglomerate reported $1.65 EPS for the quarter. The company had revenue of $520.42 million for the quarter. Steel Partners had a return on equity of 21.72% and a net margin of 11.43%.

Hedge Funds Weigh In On Steel Partners

An institutional investor recently raised its position in Steel Partners stock. HighTower Advisors LLC increased its holdings in shares of Steel Partners Holdings L.P. (NYSE:SPLP) by 2.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,420 shares of the conglomerate’s stock after purchasing an additional 635 shares during the period. HighTower Advisors LLC owned 0.14% of Steel Partners worth $1,082,000 as of its most recent SEC filing. Institutional investors 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.