StockNews.com Begins Coverage on Steel Partners (NYSE:SPLP)

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

Steel Partners Stock Up 0.9 %

Steel Partners stock opened at $35.33 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11. Steel Partners has a 1-year low of $27.95 and a 1-year high of $48.45. The firm’s fifty day simple moving average is $39.31 and its 200-day simple moving average is $40.64. The company has a market capitalization of $676.60 million, a P/E ratio of 3.62 and a beta of 1.01.

Steel Partners (NYSE:SPLP) last announced its quarterly earnings results on Tuesday, March 11th. The conglomerate reported $3.40 earnings per share for the quarter. The company had revenue of $497.92 million during 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

A number of institutional investors have recently modified their holdings of the company. Teton Advisors Inc. raised its holdings in Steel Partners by 4.0% in the 4th quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate’s stock worth $553,000 after acquiring an additional 500 shares during the period. HighTower Advisors LLC grew its position in shares of Steel Partners by 2.2% in the fourth quarter. HighTower Advisors LLC now owns 26,997 shares of the conglomerate’s stock valued at $1,149,000 after purchasing an additional 577 shares during the last quarter. Finally, Gamco Investors INC. ET AL increased its stake in shares of Steel Partners by 3.5% in the fourth quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate’s stock worth $4,123,000 after purchasing an additional 3,300 shares during the period. 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.