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

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

Steel Partners Stock Performance

Shares of NYSE:SPLP opened at $40.03 on Tuesday. The company has a market cap of $767.78 million, a P/E ratio of 4.11 and a beta of 1.38. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.27 and a quick ratio of 1.16. Steel Partners has a 1 year low of $33.12 and a 1 year high of $48.45. The stock’s fifty day moving average price is $42.01 and its 200-day moving average price is $40.44.

Steel Partners (NYSE:SPLP) last announced its quarterly earnings results on Friday, November 8th. The conglomerate reported $1.65 earnings per share (EPS) for the quarter. The firm had revenue of $520.42 million for the quarter. Steel Partners had a return on equity of 21.72% and a net margin of 11.43%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Steel Partners stock. HighTower Advisors LLC increased its holdings in Steel Partners Holdings L.P. (NYSE:SPLP) by 2.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,420 shares of the conglomerate’s stock after buying an additional 635 shares during the quarter. HighTower Advisors LLC owned 0.14% of Steel Partners worth $1,082,000 at the end of the most recent reporting period. 50.75% of the stock is currently owned by institutional investors and hedge funds.

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.