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

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

Steel Partners Trading Up 1.4 %

NYSE SPLP opened at $40.58 on Tuesday. The stock’s 50-day moving average is $39.55 and its 200-day moving average is $38.25. Steel Partners has a one year low of $33.12 and a one year high of $43.51. The firm has a market cap of $827.53 million, a P/E ratio of 5.94 and a beta of 1.35. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.26 and a quick ratio of 1.15.

Steel Partners (NYSE:SPLP) last announced its earnings results on Wednesday, August 7th. The conglomerate reported $4.85 earnings per share (EPS) for the quarter. Steel Partners had a return on equity of 21.44% and a net margin of 11.04%. The business had revenue of $533.16 million for the quarter.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Steel Partners stock. Teton Advisors Inc. boosted its position in Steel Partners Holdings L.P. (NYSE:SPLP) by 22.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,500 shares of the conglomerate’s stock after purchasing an additional 2,300 shares during the quarter. Teton Advisors Inc. owned about 0.06% of Steel Partners worth $496,000 at the end of the most recent reporting period. Institutional investors 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.