Steel Partners (NYSE:SPLP) Research Coverage Started at StockNews.com

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

Steel Partners Price Performance

Steel Partners stock opened at $40.49 on Wednesday. The company has a market cap of $825.71 million, a P/E ratio of 5.93 and a beta of 1.35. Steel Partners has a 1-year low of $33.12 and a 1-year high of $43.00. The company has a fifty day simple moving average of $40.26 and a 200 day simple moving average of $38.42. The company has a current ratio of 1.26, a quick ratio of 1.15 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. The business had revenue of $533.16 million during the quarter. Steel Partners had a net margin of 11.04% and a return on equity of 21.44%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Steel Partners stock. Teton Advisors Inc. grew its position in Steel Partners Holdings L.P. (NYSE:SPLP) by 22.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent quarter. 50.75% of the stock is currently owned by hedge funds and other institutional investors.

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.