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

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

Steel Partners Price Performance

NYSE SPLP opened at $39.25 on Wednesday. The company has a 50-day moving average price of $37.29 and a 200-day moving average price of $37.70. Steel Partners has a 52 week low of $33.12 and a 52 week high of $45.00. The company has a quick ratio of 1.15, a current ratio of 1.26 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $800.43 million, a P/E ratio of 5.75 and a beta of 1.36.

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 net margin of 11.04% and a return on equity of 21.44%. The company had revenue of $533.16 million during the quarter.

Institutional Trading of Steel Partners

An institutional investor recently raised its position in Steel Partners stock. Gabelli Funds LLC grew its position in Steel Partners Holdings L.P. (NYSE:SPLP) by 0.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 596,503 shares of the conglomerate’s stock after purchasing an additional 1,700 shares during the quarter. Gabelli Funds LLC owned approximately 2.93% of Steel Partners worth $22,207,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 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.