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

Equities research analysts at StockNews.com assumed coverage on shares of Steel Partners (NYSE:SPLP) in a research report issued on Tuesday. The brokerage set a “strong-buy” rating on the conglomerate’s stock.

Steel Partners Stock Up 0.5 %

Shares of NYSE:SPLP opened at $35.70 on Tuesday. Steel Partners has a fifty-two week low of $33.12 and a fifty-two week high of $48.00. The firm’s 50 day moving average price is $38.00 and its 200 day moving average price is $10,139.33. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 0.21. The stock has a market cap of $727.92 million, a price-to-earnings ratio of 5.56 and a beta of 1.26.

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

Institutional Investors Weigh In On Steel Partners

An institutional investor recently raised its position in Steel Partners stock. HighTower Advisors LLC raised its stake in Steel Partners Holdings L.P. (NYSE:SPLP) by 2.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,065 shares of the conglomerate’s stock after purchasing an additional 522 shares during the period. HighTower Advisors LLC owned 0.11% of Steel Partners worth $1,023,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 50.75% of the company’s stock.

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.