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

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

Steel Partners Price Performance

Steel Partners stock opened at $36.50 on Monday. Steel Partners has a 12-month low of $33.12 and a 12-month high of $48.00. The stock has a market cap of $744.24 million, a P/E ratio of 5.34 and a beta of 1.34. The company has a 50-day moving average price of $37.73 and a 200 day moving average price of $10,138.74. The company has a current ratio of 1.24, a quick ratio of 1.13 and a debt-to-equity ratio of 0.10.

Steel Partners (NYSE:SPLP) last released its quarterly earnings data on Wednesday, May 8th. The conglomerate reported $1.50 earnings per share (EPS) for the quarter. Steel Partners had a net margin of 8.27% and a return on equity of 16.61%. The firm had revenue of $476.35 million during the quarter.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Steel Partners stock. HighTower Advisors LLC boosted its stake in shares of Steel Partners Holdings L.P. (NYSE:SPLP) by 2.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,065 shares of the conglomerate’s stock after buying an additional 522 shares during the quarter. HighTower Advisors LLC owned 0.11% of Steel Partners worth $1,023,000 as of its most recent SEC filing. 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.