StockNews.com Initiates Coverage on Steel Partners (NYSE:SPLP)

StockNews.com began coverage on shares of Steel Partners (NYSE:SPLP – Free Report) in a research report sent to investors on Wednesday. The firm issued a strong-buy rating on the conglomerate’s stock.

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Steel Partners Price Performance

NYSE SPLP remained flat at $37.23 on Wednesday. The company had a trading volume of 13 shares, compared to its average volume of 795. The company has a 50 day moving average of $37.60 and a 200 day moving average of $10,209.72. The company has a market capitalization of $759.09 million, a PE ratio of 5.45 and a beta of 1.36. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.13 and a current ratio of 1.24. Steel Partners has a fifty-two week low of $33.12 and a fifty-two week high of $48.00.

Steel Partners (NYSE:SPLP – Get Free Report) last posted its earnings results on Wednesday, May 8th. The conglomerate reported $1.50 earnings per share (EPS) for the quarter. Steel Partners had a return on equity of 16.61% and a net margin of 8.27%. The firm had revenue of $476.35 million during the quarter.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Steel Partners stock. Teton Advisors Inc. lifted its position in shares of Steel Partners Holdings L.P. (NYSE:SPLP – Free Report) by 4.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,200 shares of the conglomerate’s stock after buying an additional 400 shares during the period. Teton Advisors Inc.’s holdings in Steel Partners were worth $408,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 50.75% of the company’s stock.

Steel Partners Company Profile

(Get Free Report)

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.

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