Steel Partners (NYSE:SPLP) Earns Strong-Buy Rating from Analysts at StockNews.com

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

Steel Partners Trading Up 1.5 %

Shares of NYSE:SPLP opened at $37.00 on Tuesday. The company has a market capitalization of $754.54 million, a PE ratio of 5.42 and a beta of 1.34. Steel Partners has a 12-month low of $33.12 and a 12-month high of $48.00. The business has a 50 day moving average of $37.62 and a two-hundred day moving average of $10,138.65. The company has a current ratio of 1.24, a quick ratio of 1.13 and a debt-to-equity ratio of 0.10.

Steel Partners (NYSE:SPLP) last released its quarterly earnings results on Wednesday, May 8th. The conglomerate reported $1.50 EPS for the quarter. Steel Partners had a net margin of 8.27% and a return on equity of 16.61%. The company had revenue of $476.35 million for the quarter.

Institutional Trading of Steel Partners

An institutional investor recently raised its position in Steel Partners stock. Teton Advisors Inc. grew its stake in Steel Partners Holdings L.P. (NYSE:SPLP) by 22.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,500 shares of the conglomerate’s stock after acquiring an additional 2,300 shares during the quarter. Teton Advisors Inc. owned about 0.06% of Steel Partners worth $496,000 as of its most recent SEC filing. 50.75% of the stock is currently owned by institutional investors.

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.