Steel Partners (NYSE:SPLP) Now Covered by Analysts at StockNews.com

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

Steel Partners Price Performance

Shares of SPLP opened at $39.97 on Thursday. 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 has a 12 month low of $33.12 and a 12 month high of $42.58. The firm’s 50 day moving average is $40.39 and its 200-day moving average is $38.49. The stock has a market capitalization of $815.11 million, a PE ratio of 4.33 and a beta of 1.36.

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

Institutional Investors Weigh In On Steel Partners

An institutional investor recently raised its position in Steel Partners stock. Gabelli Funds LLC increased its position in shares of Steel Partners Holdings L.P. (NYSE:SPLP) by 0.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 596,503 shares of the conglomerate’s stock after acquiring an additional 1,700 shares during the period. Gabelli Funds LLC owned about 2.93% of Steel Partners worth $22,207,000 as of its most recent filing with the Securities and Exchange Commission. 50.75% of the stock is owned by institutional investors.

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.