Steel Partners (NYSE:SPLP) Coverage Initiated by Analysts at StockNews.com

Analysts at StockNews.com assumed coverage on shares of Steel Partners (NYSE:SPLP) in a report issued on Saturday. The firm set a “strong-buy” rating on the conglomerate’s stock.

Steel Partners Stock Up 1.4 %

Shares of NYSE:SPLP opened at $36.01 on Friday. 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 business’s 50 day moving average is $38.70 and its 200 day moving average is $40.44. The stock has a market cap of $689.63 million, a P/E ratio of 3.69 and a beta of 1.21. Steel Partners has a 52-week low of $27.00 and a 52-week high of $48.45.

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 firm had revenue of $497.92 million during the quarter. Steel Partners had a net margin of 11.43% and a return on equity of 21.72%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Axxcess Wealth Management LLC purchased a new position in Steel Partners in the 1st quarter worth $330,000. Teton Advisors Inc. raised its stake in shares of Steel Partners by 4.0% in the fourth quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate’s stock worth $553,000 after purchasing an additional 500 shares during the last quarter. Gamco Investors INC. ET AL lifted its stake in Steel Partners by 3.5% during the 4th quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate’s stock valued at $4,123,000 after acquiring an additional 3,300 shares during the period. Finally, HighTower Advisors LLC raised its holdings in shares of Steel Partners by 2.2% during the fourth quarter. HighTower Advisors LLC now owns 26,997 shares of the conglomerate’s stock worth $1,149,000 after purchasing an additional 577 shares during the last quarter. Institutional investors and hedge funds 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.