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

StockNews.com started coverage on shares of Steel Partners (NYSE:SPLP) in a research note issued to investors on Sunday. The firm issued a strong-buy rating on the conglomerate’s stock.

Steel Partners Trading Down 0.7%

SPLP opened at $37.25 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.27 and a quick ratio of 1.16. The firm has a market capitalization of $713.37 million, a PE ratio of 3.82 and a beta of 1.21. Steel Partners has a fifty-two week low of $27.00 and a fifty-two week high of $48.45. The company’s 50-day moving average is $38.31 and its 200 day moving average is $40.31.

Steel Partners (NYSE:SPLP) last posted its quarterly earnings data on Tuesday, March 11th. The conglomerate reported $3.40 EPS for the quarter. The firm 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

Several institutional investors and hedge funds have recently added to or reduced their stakes in SPLP. Axxcess Wealth Management LLC purchased a new stake in Steel Partners in the 1st quarter valued at about $330,000. Teton Advisors Inc. grew its position in shares of Steel Partners by 4.0% during the 4th quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate’s stock valued at $553,000 after acquiring an additional 500 shares during the period. HighTower Advisors LLC grew its position in shares of Steel Partners by 2.2% during the 4th quarter. HighTower Advisors LLC now owns 26,997 shares of the conglomerate’s stock valued at $1,149,000 after acquiring an additional 577 shares during the period. Finally, Gamco Investors INC. ET AL grew its position in shares of Steel Partners by 3.5% during the 4th quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate’s stock valued at $4,123,000 after acquiring an additional 3,300 shares during the period. Hedge funds and other institutional investors own 50.75% of the company’s stock.

About Steel Partners

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.