Steel Partners (NYSE:SPLP) Now Covered by StockNews.com

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

Steel Partners Price Performance

SPLP stock opened at $37.44 on Friday. Steel Partners has a one year low of $33.12 and a one year high of $48.00. The firm has a 50-day moving average of $38.05 and a two-hundred day moving average of $10,139.73. The firm has a market capitalization of $763.42 million, a PE ratio of 5.83 and a beta of 1.26. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 0.21.

Steel Partners (NYSE:SPLP) last released its quarterly earnings results on Friday, March 8th. The conglomerate reported $1.75 earnings per share (EPS) for the quarter. Steel Partners had a net margin of 7.92% and a return on equity of 16.41%. The business had revenue of $466.91 million for the quarter.

Hedge Funds Weigh In On Steel Partners

Institutional investors and hedge funds have recently bought and sold shares of the business. Advisory Services Network LLC acquired a new stake in shares of Steel Partners during the fourth quarter worth approximately $120,000. BNP Paribas Arbitrage SA purchased a new stake in Steel Partners in the 1st quarter worth approximately $122,000. Teton Advisors Inc. boosted its stake in shares of Steel Partners by 4.1% during the 4th quarter. Teton Advisors Inc. now owns 10,200 shares of the conglomerate’s stock valued at $408,000 after buying an additional 400 shares during the period. Finally, HighTower Advisors LLC grew its holdings in shares of Steel Partners by 3.1% during the 1st quarter. HighTower Advisors LLC now owns 19,047 shares of the conglomerate’s stock valued at $792,000 after acquiring an additional 573 shares in the last quarter. Hedge funds and other institutional investors 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.