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

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

Steel Partners Trading Up 1.2 %

Shares of SPLP stock opened at $41.81 on Monday. The company has a market capitalization of $797.53 million, a PE ratio of 4.29 and a beta of 1.37. Steel Partners has a 52-week low of $34.55 and a 52-week high of $48.45. The business’s fifty day moving average is $41.02 and its 200 day moving average is $41.19. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.16 and a current ratio of 1.27.

Steel Partners (NYSE:SPLP) last announced its earnings results on Tuesday, March 11th. The conglomerate reported $3.40 earnings per share for the quarter. The business had revenue of $497.92 million for the quarter. Steel Partners had a return on equity of 21.72% and a net margin of 11.43%.

Hedge Funds Weigh In On Steel Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of SPLP. HighTower Advisors LLC raised its position in shares of Steel Partners by 2.5% during the 3rd quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock valued at $1,082,000 after buying an additional 635 shares in the last quarter. De Lisle Partners LLP increased its stake in Steel Partners by 83.0% in the third quarter. De Lisle Partners LLP now owns 22,877 shares of the conglomerate’s stock valued at $924,000 after acquiring an additional 10,377 shares during the last quarter. Gamco Investors INC. ET AL raised its position in Steel Partners by 3.5% during the fourth quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate’s stock valued at $4,123,000 after purchasing an additional 3,300 shares in the last quarter. Finally, Teton Advisors Inc. lifted its stake in Steel Partners by 4.0% during the fourth quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate’s stock worth $553,000 after purchasing an additional 500 shares during the last quarter. Hedge funds and other 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.