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

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

Steel Partners Stock Up 3.5 %

Steel Partners stock opened at $40.77 on Monday. The stock has a market cap of $781.87 million, a PE ratio of 4.18 and a beta of 1.39. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.27 and a quick ratio of 1.16. The stock’s fifty day moving average is $41.99 and its two-hundred day moving average is $40.28. Steel Partners has a 1-year low of $33.12 and a 1-year high of $48.45.

Steel Partners (NYSE:SPLP) last issued its earnings results on Friday, November 8th. The conglomerate reported $1.65 earnings per share for the quarter. The business had revenue of $520.42 million for the quarter. Steel Partners had a return on equity of 21.72% and a net margin of 11.43%.

Institutional Investors Weigh In On Steel Partners

A hedge fund recently raised its stake in Steel Partners stock. HighTower Advisors LLC boosted its holdings in Steel Partners Holdings L.P. (NYSE:SPLP) by 2.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,420 shares of the conglomerate’s stock after purchasing an additional 635 shares during the quarter. HighTower Advisors LLC owned about 0.14% of Steel Partners worth $1,082,000 at the end of the most recent quarter. 50.75% of the stock is owned by institutional investors.

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.