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

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

Steel Partners Stock Performance

Shares of SPLP stock opened at $36.94 on Monday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.17 and a current ratio of 1.27. The company has a market capitalization of $753.21 million, a P/E ratio of 5.75 and a beta of 1.26. The company’s 50 day moving average price is $38.04 and its two-hundred day moving average price is $10,069.38. Steel Partners has a 52 week low of $33.12 and a 52 week high of $48.00.

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

Hedge Funds Weigh In On Steel Partners

An institutional investor recently raised its position in Steel Partners stock. HighTower Advisors LLC raised its holdings in shares of Steel Partners Holdings L.P. (NYSE:SPLP) by 2.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,065 shares of the conglomerate’s stock after acquiring an additional 522 shares during the quarter. HighTower Advisors LLC owned approximately 0.11% of Steel Partners worth $1,023,000 at the end of the most recent reporting period. 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.