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

Stock analysts at StockNews.com initiated coverage on shares of Steel Partners (NYSE:SPLP) in a report issued on Sunday. The firm set a “strong-buy” rating on the conglomerate’s stock.

Steel Partners Stock Performance

Shares of SPLP opened at $40.95 on Friday. The company has a market cap of $835.09 million, a price-to-earnings ratio of 6.00 and a beta of 1.35. The firm has a fifty day moving average of $38.98 and a 200-day moving average of $38.22. Steel Partners has a 1 year low of $33.12 and a 1 year high of $43.70. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.15 and a current ratio of 1.26.

Steel Partners (NYSE:SPLP) last posted its quarterly earnings data on Wednesday, August 7th. The conglomerate reported $4.85 earnings per share for the quarter. The business had revenue of $533.16 million during the quarter. Steel Partners had a net margin of 11.04% and a return on equity of 21.44%.

Institutional Investors Weigh In On Steel Partners

A hedge fund recently raised its stake in Steel Partners stock. Gabelli Funds LLC boosted its holdings in Steel Partners Holdings L.P. (NYSE:SPLP) by 0.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 596,503 shares of the conglomerate’s stock after acquiring an additional 1,700 shares during the quarter. Gabelli Funds LLC owned about 2.93% of Steel Partners worth $22,207,000 as of its most recent SEC filing. Institutional investors and hedge funds 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.