Steel Partners (NYSE:SPLP) Earns Strong-Buy Rating from Analysts at StockNews.com

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

Steel Partners Price Performance

Shares of NYSE SPLP opened at $39.50 on Thursday. The company has a market capitalization of $805.41 million, a PE ratio of 5.78 and a beta of 1.35. The company has a quick ratio of 1.15, a current ratio of 1.26 and a debt-to-equity ratio of 0.08. The stock’s 50 day moving average price is $37.65 and its 200-day moving average price is $37.82. Steel Partners has a twelve month low of $33.12 and a twelve month high of $45.00.

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

Hedge Funds Weigh In On Steel Partners

An institutional investor recently raised its position in Steel Partners stock. Teton Advisors Inc. increased its stake in Steel Partners Holdings L.P. (NYSE:SPLP) by 22.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,500 shares of the conglomerate’s stock after acquiring an additional 2,300 shares during the period. Teton Advisors Inc. owned about 0.06% of Steel Partners worth $496,000 as of its most recent SEC filing. Hedge funds and other 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.