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

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

Steel Partners Trading Down 7.9 %

NYSE:SPLP opened at $35.01 on Monday. The firm has a 50-day simple moving average of $37.00 and a 200-day simple moving average of $37.58. Steel Partners has a one year low of $33.12 and a one year high of $45.50. The firm has a market cap of $713.85 million, a P/E ratio of 5.13 and a beta of 1.36. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.15 and a current ratio of 1.26.

Steel Partners (NYSE:SPLP) last issued its quarterly earnings data on Wednesday, August 7th. The conglomerate reported $4.85 EPS for the quarter. The company 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 Investors Weigh In On Steel Partners

A hedge fund recently raised its stake in Steel Partners stock. Teton Advisors Inc. increased its position in shares of Steel Partners Holdings L.P. (NYSE:SPLP) by 4.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,200 shares of the conglomerate’s stock after acquiring an additional 400 shares during the quarter. Teton Advisors Inc.’s holdings in Steel Partners were worth $408,000 as of its most recent SEC filing. 50.75% of the stock is owned by hedge funds and other institutional investors.

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.