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

Equities researchers at StockNews.com began coverage on shares of Steel Partners (NYSE:SPLP) in a note issued to investors on Wednesday. The brokerage set a “strong-buy” rating on the conglomerate’s stock.

Steel Partners Price Performance

Shares of Steel Partners stock opened at $41.00 on Wednesday. The firm has a market cap of $836.11 million, a PE ratio of 6.00 and a beta of 1.35. Steel Partners has a 12 month low of $33.12 and a 12 month high of $43.31. The stock has a 50 day moving average of $40.13 and a 200 day moving average of $38.39. The company has a current ratio of 1.26, a quick ratio of 1.15 and a debt-to-equity ratio of 0.08.

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

Institutional Investors Weigh In On Steel Partners

A hedge fund recently raised its stake in Steel Partners stock. Gabelli Funds LLC boosted its stake in shares of Steel Partners Holdings L.P. (NYSE:SPLP) by 0.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 596,503 shares of the conglomerate’s stock after buying an additional 1,700 shares during the period. Gabelli Funds LLC owned approximately 2.93% of Steel Partners worth $22,207,000 at the end of the most recent quarter. 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.