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

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

Steel Partners Price Performance

SPLP opened at $39.97 on Thursday. The company’s 50-day simple moving average is $40.37 and its two-hundred day simple moving average is $38.47. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.15 and a current ratio of 1.26. The stock has a market capitalization of $814.99 million, a P/E ratio of 4.33 and a beta of 1.35. Steel Partners has a 52-week low of $33.12 and a 52-week high of $42.58.

Steel Partners (NYSE:SPLP) last announced its earnings results on Wednesday, August 7th. The conglomerate reported $4.85 earnings per share for the quarter. Steel Partners had a net margin of 11.04% and a return on equity of 21.44%. The business had revenue of $533.16 million during the quarter.

Institutional Trading of Steel Partners

An institutional investor recently raised its position in Steel Partners stock. Teton Advisors Inc. lifted its stake in shares of Steel Partners Holdings L.P. (NYSE:SPLP) by 22.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,500 shares of the conglomerate’s stock after acquiring an additional 2,300 shares during the quarter. Teton Advisors Inc. owned approximately 0.06% of Steel Partners worth $496,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 50.75% of the company’s stock.

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.