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

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

Steel Partners Trading Down 0.1 %

NYSE SPLP opened at $36.94 on Monday. The firm has a market capitalization of $753.21 million, a P/E ratio of 5.75 and a beta of 1.26. The business has a fifty day simple moving average of $38.04 and a 200 day simple moving average of $10,069.38. Steel Partners has a 12 month low of $33.12 and a 12 month high of $48.00. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 0.21.

Steel Partners (NYSE:SPLP) last announced its quarterly earnings data on Friday, March 8th. The conglomerate reported $1.75 earnings per share (EPS) for the quarter. The firm had revenue of $466.91 million during the quarter. Steel Partners had a return on equity of 16.41% and a net margin of 7.92%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Steel Partners stock. Teton Advisors Inc. lifted its position in shares of Steel Partners Holdings L.P. (NYSE:SPLP) by 4.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 10,200 shares of the conglomerate’s stock after acquiring an additional 400 shares during the quarter. Teton Advisors Inc.’s holdings in Steel Partners were worth $408,000 at the end of the most recent quarter. 50.75% of the stock is owned by institutional investors.

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.