Steel Partners (NYSE:SPLP) Now Covered by StockNews.com

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

Steel Partners Stock Performance

Shares of NYSE SPLP opened at $33.67 on Thursday. Steel Partners has a 12-month low of $27.95 and a 12-month high of $48.45. The firm has a market capitalization of $644.72 million, a price-to-earnings ratio of 3.45 and a beta of 1.01. The company has a current ratio of 1.27, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11. The firm has a 50 day moving average of $40.07 and a 200 day moving average of $40.84.

Steel Partners (NYSE:SPLP) last posted its quarterly earnings data on Tuesday, March 11th. The conglomerate reported $3.40 EPS for the quarter. The firm had revenue of $497.92 million during the quarter. Steel Partners had a return on equity of 21.72% and a net margin of 11.43%.

Institutional Investors Weigh In On Steel Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Teton Advisors Inc. boosted its position in shares of Steel Partners by 4.0% in the fourth quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate’s stock worth $553,000 after purchasing an additional 500 shares during the period. Gamco Investors INC. ET AL increased its stake in Steel Partners by 3.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate’s stock worth $4,123,000 after buying an additional 3,300 shares in the last quarter. Finally, HighTower Advisors LLC raised its holdings in Steel Partners by 2.2% during the fourth quarter. HighTower Advisors LLC now owns 26,997 shares of the conglomerate’s stock valued at $1,149,000 after acquiring an additional 577 shares during the period. 50.75% of the stock is owned by hedge funds and other 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.