Steel Partners (NYSE:SPLP) Receives New Coverage from Analysts at StockNews.com

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

Steel Partners Stock Performance

Shares of NYSE SPLP opened at $41.00 on Wednesday. Steel Partners has a 52-week low of $33.12 and a 52-week high of $43.31. The stock has a market capitalization of $836.11 million, a price-to-earnings ratio of 6.00 and a beta of 1.35. The company has a quick ratio of 1.15, a current ratio of 1.26 and a debt-to-equity ratio of 0.08. The stock’s fifty day simple moving average is $40.20 and its 200 day simple moving average is $38.40.

Steel Partners (NYSE:SPLP) last posted its quarterly earnings data on Wednesday, August 7th. The conglomerate reported $4.85 EPS for the quarter. The company 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 Trading of Steel Partners

An institutional investor recently raised its position in Steel Partners stock. Gabelli Funds LLC increased its holdings in shares of Steel Partners Holdings L.P. (NYSE:SPLP) by 0.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 596,503 shares of the conglomerate’s stock after buying an additional 1,700 shares during the quarter. Gabelli Funds LLC owned 2.93% of Steel Partners worth $22,207,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors 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.