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

Equities researchers at StockNews.com initiated coverage on shares of Steel Partners (NYSE:SPLP) in a research report issued to clients and investors on Sunday. The firm set a “strong-buy” rating on the conglomerate’s stock.

Steel Partners Stock Performance

NYSE:SPLP opened at $40.88 on Friday. The company has a 50-day moving average of $41.14 and a 200-day moving average of $41.10. The firm has a market cap of $779.69 million, a price-to-earnings ratio of 4.19 and a beta of 1.37. The company has a current ratio of 1.27, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11. Steel Partners has a twelve month low of $34.55 and a twelve month high of $48.45.

Steel Partners (NYSE:SPLP) last announced its earnings results on Tuesday, March 11th. The conglomerate reported $3.40 earnings per share (EPS) for the quarter. Steel Partners had a return on equity of 21.72% and a net margin of 11.43%. The company had revenue of $497.92 million for the quarter.

Hedge Funds Weigh In On Steel Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. De Lisle Partners LLP boosted its position in shares of Steel Partners by 83.0% in the third quarter. De Lisle Partners LLP now owns 22,877 shares of the conglomerate’s stock worth $924,000 after buying an additional 10,377 shares during the period. HighTower Advisors LLC lifted its stake in Steel Partners by 2.5% in the 3rd quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock worth $1,082,000 after acquiring an additional 635 shares in the last quarter. Gamco Investors INC. ET AL boosted its position 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 worth $4,123,000 after acquiring an additional 3,300 shares during the period. Finally, Teton Advisors Inc. grew its stake in Steel Partners by 4.0% during the 4th quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate’s stock valued at $553,000 after acquiring an additional 500 shares in 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.