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

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

Steel Partners Trading Up 0.4 %

Shares of Steel Partners stock opened at $41.05 on Friday. Steel Partners has a 12-month low of $33.12 and a 12-month high of $48.45. 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 business’s 50 day moving average is $41.97 and its 200-day moving average is $40.10. The stock has a market cap of $787.34 million, a P/E ratio of 4.21 and a beta of 1.39.

Steel Partners (NYSE:SPLP) last issued its earnings results on Friday, November 8th. The conglomerate reported $1.65 earnings per share (EPS) for the quarter. The business had revenue of $520.42 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 hedge funds have recently added to or reduced their stakes in the business. HighTower Advisors LLC boosted its holdings in shares of Steel Partners by 2.5% during the third quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock worth $1,082,000 after acquiring an additional 635 shares during the period. De Lisle Partners LLP lifted its holdings in Steel Partners by 83.0% during the 3rd quarter. De Lisle Partners LLP now owns 22,877 shares of the conglomerate’s stock worth $924,000 after purchasing an additional 10,377 shares during the last quarter. Finally, Gabelli Funds LLC boosted its stake in Steel Partners by 0.3% in the 2nd quarter. Gabelli Funds LLC now owns 596,503 shares of the conglomerate’s stock valued at $22,207,000 after purchasing an additional 1,700 shares during the period. 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.