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

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

Steel Partners Price Performance

Shares of NYSE SPLP opened at $36.98 on Monday. Steel Partners has a fifty-two week low of $33.12 and a fifty-two week high of $48.00. The stock has a market cap of $754.02 million, a price-to-earnings ratio of 5.76 and a beta of 1.26. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.17 and a current ratio of 1.27. The firm’s 50-day simple moving average is $38.06 and its 200 day simple moving average is $10,139.54.

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

Hedge Funds Weigh In On Steel Partners

A hedge fund recently raised its stake in Steel Partners stock. HighTower Advisors LLC lifted its holdings in Steel Partners Holdings L.P. (NYSE:SPLP) by 2.2% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,065 shares of the conglomerate’s stock after buying an additional 522 shares during the period. HighTower Advisors LLC owned approximately 0.11% of Steel Partners worth $1,023,000 at the end of the most recent reporting period. 50.75% of the stock is currently 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.