Steel Partners (NYSE:SPLP) Earns Strong-Buy Rating from Analysts at StockNews.com

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

Steel Partners Price Performance

Shares of Steel Partners stock opened at $36.64 on Wednesday. The company has a quick ratio of 1.16, a current ratio of 1.27 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $701.71 million, a price-to-earnings ratio of 3.76 and a beta of 1.01. Steel Partners has a twelve month low of $34.55 and a twelve month high of $48.45. The company has a 50-day simple moving average of $40.89 and a two-hundred day simple moving average of $41.12.

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

Institutional Investors Weigh In On Steel Partners

A number of large investors have recently bought and sold shares of the company. HighTower Advisors LLC raised its position in Steel Partners by 2.5% during the third quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock valued at $1,082,000 after purchasing an additional 635 shares in the last quarter. Gamco Investors INC. ET AL boosted its holdings in shares of Steel Partners by 3.5% in the 4th 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. increased its stake in shares of Steel Partners by 4.0% in the 4th quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate’s stock valued at $553,000 after purchasing an additional 500 shares during the last quarter. 50.75% of the stock is currently owned by institutional investors and hedge funds.

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.