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

StockNews.com assumed coverage on shares of Steel Partners (NYSE:SPLP) in a research report report published on Thursday morning. The brokerage issued a strong-buy rating on the conglomerate’s stock.

Steel Partners Stock Performance

NYSE SPLP opened at $39.97 on Thursday. The firm has a market capitalization of $814.99 million, a PE ratio of 4.33 and a beta of 1.35. The stock’s 50 day moving average is $40.37 and its 200 day moving average is $38.47. Steel Partners has a twelve month low of $33.12 and a twelve month high of $42.58. The company has a quick ratio of 1.15, a current ratio of 1.26 and a debt-to-equity ratio of 0.08.

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Steel Partners stock. Gabelli Funds LLC boosted its position in shares of Steel Partners Holdings L.P. (NYSE:SPLP) by 0.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 596,503 shares of the conglomerate’s stock after purchasing an additional 1,700 shares during the quarter. Gabelli Funds LLC owned about 2.93% of Steel Partners worth $22,207,000 at the end of the most recent reporting period. 50.75% of the stock is owned by hedge funds and other 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.