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

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

Steel Partners Price Performance

SPLP stock opened at $37.44 on Monday. The company has a fifty day moving average price of $38.08 and a 200 day moving average price of $10,210.73. Steel Partners has a 12 month low of $33.12 and a 12 month high of $48.00. The company has a market cap of $763.42 million, a price-to-earnings ratio of 5.83 and a beta of 1.26. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.27 and a quick ratio of 1.17.

Steel Partners (NYSE:SPLP) last released its quarterly earnings results on Friday, March 8th. The conglomerate reported $1.75 EPS for the quarter. Steel Partners had a net margin of 7.92% and a return on equity of 16.41%. The firm had revenue of $466.91 million during the quarter.

Hedge Funds Weigh In On Steel Partners

An institutional investor recently raised its position in Steel Partners stock. Teton Advisors Inc. grew its position in shares of Steel Partners Holdings L.P. (NYSE:SPLP) by 4.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,200 shares of the conglomerate’s stock after buying an additional 400 shares during the quarter. Teton Advisors Inc.’s holdings in Steel Partners were worth $408,000 as of its most recent filing with the SEC. 50.75% of the stock is owned by hedge funds and other 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.