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

Investment analysts at StockNews.com assumed coverage on shares of Steel Partners (NYSE:SPLP) in a research report issued to clients and investors on Monday. The brokerage set a “strong-buy” rating on the conglomerate’s stock.

Steel Partners Trading Up 1.3%

SPLP opened at $38.50 on Monday. Steel Partners has a 1-year low of $27.00 and a 1-year high of $48.45. The firm has a 50-day moving average price of $38.06 and a two-hundred day moving average price of $40.24. The company has a current ratio of 1.27, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $737.31 million, a PE ratio of 3.95 and a beta of 1.21.

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

Insider Activity at Steel Partners

In related news, President Jack L. Howard sold 25,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $24.20, for a total value of $617,100.00. Following the completion of the transaction, the president now owns 62,149 shares in the company, valued at $1,504,005.80. This trade represents a 29.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 84.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Steel Partners

Several large investors have recently modified their holdings of SPLP. Axxcess Wealth Management LLC acquired a new stake in Steel Partners in the 1st quarter valued at $330,000. Teton Advisors Inc. raised its stake 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 worth $553,000 after purchasing an additional 500 shares during the period. HighTower Advisors LLC raised its stake 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 worth $1,149,000 after purchasing an additional 577 shares during the period. Finally, Gamco Investors INC. ET AL raised its stake in 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 acquiring an additional 3,300 shares during the period. Institutional investors and hedge funds 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.