Steel Partners (NYSE:SPLP) Coverage Initiated by Analysts at StockNews.com

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

Steel Partners Price Performance

SPLP opened at $37.44 on Friday. The business’s 50-day moving average is $38.04 and its two-hundred day moving average is $10,210.87. Steel Partners has a 1 year low of $33.12 and a 1 year high of $48.00. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.27 and a quick ratio of 1.17. The firm has a market capitalization of $763.49 million, a PE ratio of 5.83 and a beta of 1.26.

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

Institutional Investors Weigh In On Steel Partners

Institutional investors have recently added to or reduced their stakes in the business. Advisory Services Network LLC acquired a new stake in shares of Steel Partners during the first quarter worth about $287,000. BNP Paribas Arbitrage SA acquired a new stake in shares of Steel Partners during the first quarter worth about $122,000. HighTower Advisors LLC lifted its holdings in shares of Steel Partners by 3.1% during the first quarter. HighTower Advisors LLC now owns 19,047 shares of the conglomerate’s stock worth $792,000 after purchasing an additional 573 shares during the period. Finally, Teton Advisors Inc. lifted its holdings in shares of Steel Partners by 4.1% during the fourth quarter. Teton Advisors Inc. now owns 10,200 shares of the conglomerate’s stock worth $408,000 after purchasing an additional 400 shares during the 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.